The Corporate Affairs Commission (CAC) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) have launched a nationwide initiative to provide free business registration for 250,000 nano, micro, and small enterprises.
The programme was unveiled in Abuja during the signing of a Memorandum of Understanding (MoU) between the two agencies.
According to a joint statement issued on Friday, the initiative is part of activities marking the second anniversary in office of CAC Registrar-General Hussaini Magaji and SMEDAN Director-General Charles Odii, both appointed in October 2023.
For years, many small businesses have struggled to formalise due to high costs, bureaucracy, and lack of awareness—challenges that often limit access to finance, markets, and government support. The new CAC–SMEDAN scheme seeks to remove these barriers by covering registration costs and linking beneficiaries directly to SMEDAN’s MSME database.
Through this database, registered businesses will enjoy aftercare services and opportunities such as grants, training programmes, technical support, and market linkages.
Speaking at the event, CAC Registrar-General Magaji said reforms under President Bola Tinubu’s administration are designed to expand opportunities for small businesses nationwide. He cited ongoing policies, including major infrastructure investments, exchange rate unification, and the N200bn economic assistance programme for nano businesses, SMEs, and manufacturers.
“This drive is about breaking down barriers that keep too many small businesses informal. By removing the cost of registration for 250,000 businesses, we are helping entrepreneurs take the first step towards growth, legitimacy, and access to bigger opportunities. The Commission is forgoing about N3bn in registration fees to make this possible,” Magaji said.
SMEDAN Director-General Odii added that the programme will reduce the number of unregistered businesses and lower SME failure rates in Nigeria.
“Formalisation is the gateway to support. By ensuring these businesses are registered and integrated into our database, we can provide continuous aftercare—whether through grants, training, or new market access. MSMEs already in our database without CAC registration will automatically qualify. Others can register via our portal at portal.smedan.gov.ng or through SMEDAN State Offices and Business Clinics nationwide,” he explained.
He also assured entrepreneurs that the fear of taxation has been addressed under the new tax framework, effective from 2026, which raises the exemption threshold for small businesses.
Odii noted that the upcoming CAC fee review will not affect the free registration scheme, stressing that 250,000 MSMEs across all 36 states and the FCT will benefit.
Both officials commended President Tinubu for his commitment to MSME growth, saying the initiative reflects his Renewed Hope agenda of reducing barriers for entrepreneurs and creating an enabling environment for business growth.
How to Apply:
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Visit portal.smedan.gov.ng and complete the registration form.
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MSMEs already in SMEDAN’s database without CAC registration will automatically qualify.
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Once registered, beneficiaries will be contacted with the next steps for CAC certification.
ADEOLA KUNLE
