The Corporate Affairs Commission (CAC) and Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) have teamed up to provide free business registration for 250,000 nano, micro, and small enterprises across Nigeria.
The program, announced in Abuja, aims to formalize businesses and drive economic growth.
Breaking Barriers
Announced during a Memorandum of Understanding signing, this initiative marks the second anniversary of CAC Registrar-General Hussaini Magaji and SMEDAN Director-General Charles Odii’s appointments in October 2023.
Formalization is a major hurdle for small businesses due to costs and bureaucracy, limiting access to loans, markets, and government aid.
Program Benefits
The CAC-SMEDAN scheme covers registration costs and integrates businesses into SMEDAN’s MSME database.
Registered firms gain access to grants, training, technical support, and market opportunities, fostering growth and stability.
Leadership’s Vision
CAC’s Magaji highlighted reforms under President Bola Tinubu, including infrastructure investments, exchange rate unification, and a N200 billion aid package for small businesses.
“This program waives N3 billion in fees, helping entrepreneurs formalize and grow,” he said, emphasizing its role in strengthening Nigeria’s MSME sector.
SMEDAN’s Commitment
SMEDAN’s Odii stressed reducing informal businesses and SME failures. “Formalization unlocks support like grants and markets,” he said.
Businesses can register at portal.smedan.gov.ng, with SMEDAN state offices assisting non-digital users at events like Business Clinics.
A 2026 tax reform raising exemption thresholds addresses taxation fears.
Unaffected by Fee Changes
Odii confirmed that an upcoming CAC fee review won’t impact the free registration for 250,000 businesses across Nigeria’s 36 states and the Federal Capital Territory, ensuring accessibility.
How to Apply
- Visit portal.smedan.gov.ng to fill out the registration form.
- MSMEs in SMEDAN’s database without CAC registration qualify automatically.
- After SMEDAN registration, businesses will receive CAC certification instructions.
Why It Matters
This initiative supports Tinubu’s Renewed Hope agenda, reducing barriers for entrepreneurs and boosting Nigeria’s MSME ecosystem.
By promoting formalization, it paves the way for sustainable economic growth in 2025.
Free Technical Education Nigeria: Government Enforces No Fees
