CAC and SMEDAN have launched free business registration for 250,000 small enterprises nationwide.
The initiative removes registration costs, opening access to grants, training and new markets for entrepreneurs.
The Corporate Affairs Commission (CAC) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) have launched a joint initiative to provide free business registration for 250,000 nano, micro, and small enterprises (MSMEs) across the country.
The scheme was announced in Abuja on Friday during the signing of a Memorandum of Understanding (MoU) between the two agencies. It coincides with the second anniversary of the appointments of CAC Registrar-General Hussaini Magaji and SMEDAN Director-General Charles Odii, both of whom assumed office in October 2023.
Nigeria has long grappled with high levels of informality, as costs, bureaucracy, and low awareness deter millions of entrepreneurs from registering their businesses. This often limits their access to finance, markets, and government support.
The CAC–SMEDAN scheme is designed to break these barriers by covering registration fees and onboarding beneficiaries into SMEDAN’s MSME database.
Registered businesses will also benefit from aftercare services, including access to grants, capacity-building programs, technical support, and market linkages.
Speaking at the launch, CAC Registrar-General Hussaini Magaji stated that the initiative aligns with President Bola Tinubu’s economic reforms aimed at expanding opportunities for small businesses.
“This drive is about breaking down the barriers that keep too many of our small businesses informal,” Magaji said.
“By removing the cost of business name registration for 250,000 businesses, we are helping entrepreneurs take the first step toward growth, legitimacy, and access to bigger opportunities. The Commission is forgoing approximately N3bn in registration fees to make this possible.”
He also highlighted complementary policies, including unprecedented investment in infrastructure, the unification of the exchange rate, and the N200bn economic assistance program for nano businesses, SMEs, and manufacturers.
SMEDAN DG Charles Odii stressed that formalization remains the gateway to support for small businesses.
“By ensuring that businesses are registered and onboarded into our database, we can provide continuous aftercare, whether that’s access to grants, training, or new markets,” Odii said.
“The first step for any MSME wishing to benefit is to register on our portal at portal.smedan.gov.ng.”
Odii noted that MSMEs already captured in SMEDAN’s database, but without CAC registration, would automatically qualify.
To support entrepreneurs less familiar with digital platforms, SMEDAN State Offices and Business Clinics across Nigeria will provide physical onboarding.
Responding to fears that registration might expose small businesses to taxation, Odii explained that the new tax framework taking effect in 2026 raises exemption thresholds for small businesses, ensuring registration will not become a burden.
He also confirmed that a forthcoming CAC fee review will not affect the free registration offer.
“Regardless of the review, 250,000 small businesses across the 36 states and the FCT will enjoy free registration,” he assured.
Both officials commended President Tinubu for his commitment to MSME development under his Renewed Hope agenda, noting that the initiative reflects his government’s determination to lower barriers and create an enabling environment for entrepreneurship.
