FREE BUSINESS REGISTRATION: SMEDAN and CAC Partner to Provide Free Business Registration for 250,000 MSMEs

-Special Report-

FREE BUSINESS REGISTRATION-SMEDAN and CAC Unite to Empower 250,000 MSMEs Across Nigeria

In a landmark move aimed at transforming Nigeria’s entrepreneurial landscape, the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) and the Corporate Affairs Commission (CAC) have launched a nationwide initiative to provide free business registration for 250,000 Micro, Small, and Medium Enterprises (MSMEs).

This ambitious program, unveiled through a Memorandum of Understanding signed at the CAC headquarters in Abuja, marks a pivotal step toward formalizing Nigeria’s vast informal business sector.

The initiative is rooted in the Federal Government’s Renewed Hope Agenda, championed by President Bola Ahmed Tinubu, which seeks to dismantle systemic barriers that hinder small business growth. Historically, the cost of registration, averaging ₦11,000, has discouraged many entrepreneurs from formalizing their ventures. By waiving these fees, CAC and SMEDAN are not only removing financial obstacles but also opening doors to legitimacy, credibility, and access to broader economic opportunities.

Registrar-General of CAC, Hussaini Ishaq Magaji, emphasized that the Commission is foregoing approximately ₦3 billion in registration fees to make this initiative a reality. He described the program as a strategic investment in Nigeria’s MSME ecosystem, enabling businesses to transition from informal operations to structured enterprises capable of scaling and attracting support. Director-General of SMEDAN, Charles Odii, echoed this sentiment, noting that formalization is the gateway to sustainability. He explained that registered businesses will be integrated into SMEDAN’s MSME database, granting them access to grants, technical assistance, training programs, and market linkages.

The registration drive is designed to reach nano, micro, and small enterprises across Nigeria, particularly those that have long operated outside the formal economy due to cost, bureaucracy, or lack of awareness. Entrepreneurs interested in benefiting from the scheme are encouraged to register via SMEDAN’s portal at portal.smedan.gov.ng. . Once onboarded, these businesses will receive continuous aftercare, positioning them for long-term growth and resilience.

This partnership between SMEDAN and CAC is more than a bureaucratic collaboration, it is a bold statement of intent. It signals a shift toward inclusive economic development, where small businesses are not just acknowledged but actively supported. By removing the cost barrier and streamlining access to formal registration, the initiative is expected to boost job creation, stimulate innovation, and enhance Nigeria’s competitiveness in regional and global markets.

As the program rolls out, stakeholders across the public and private sectors are watching closely. The success of this initiative could redefine how Nigeria nurtures its entrepreneurial talent, offering a replicable model for other nations grappling with informal economies. For the 250,000 MSMEs poised to benefit, this is not just free registration, it is a gateway to transformation.