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.
This drive aims to break down barriers that keep small businesses informal, promoting formalization and strengthening Nigeria’s MSME ecosystem. “This initiative is a game changer for small businesses in Nigeria,” said a source.
The CAC will waive approximately ₦3 billion in registration fees, making it easier for small businesses to formalize. MSMEs already on SMEDAN’s database without CAC registration will automatically qualify for the free registration drive. Interested businesses can apply by visiting (link unavailable) and completing the registration form.
Registered businesses will gain access to government grants, capacity building programs, technical support, market opportunities, and legal recognition to operate nationwide. “By formalizing these businesses, we aim to create more jobs, stimulate economic development, and strengthen Nigeria’s MSME sector,” said a government official.
The initiative aligns with the Federal Government’s Renewed Hope Agenda, prioritizing economic empowerment and small business development as drivers of job creation and national growth. SMEDAN State Offices nationwide will provide support for entrepreneurs who are not digital natives.
The CAC and SMEDAN will work together to promote awareness, monitor the progress of the initiative, and share data responsibly for effective tracking and measurable impact. This collaboration will ensure the success of the initiative and its benefits to small businesses.
The free registration initiative is expected to have a significant impact on Nigeria’s economy, promoting entrepreneurship and job creation. With this initiative, small businesses will be able to access government support and resources, enabling them to grow and thrive.