The Corporate Affairs Commission (CAC), in partnership with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), has unveiled a nationwide initiative to provide free business registration for 250,000 nano, micro, and small enterprises (NMSMEs).
The collaboration was sealed through a Memorandum of Understanding (MoU) signed in Abuja, where both agencies highlighted that many Nigerian entrepreneurs remain in the informal sector due to high costs, bureaucracy, and lack of awareness.
SMEDAN Director-General, Charles Odii, explained that the scheme will remove these barriers by covering registration costs and integrating beneficiaries into SMEDAN’s MSME database. This database, he noted, will open access to grants, technical support, training programmes, and market linkages.
Registrar-General of the CAC, Hussaini Ishaq Magaji, said the initiative will dismantle obstacles to business formalisation. By waiving ₦3 billion in registration fees, he added, the government is creating a pathway for small businesses to gain legitimacy, growth, and wider opportunities.
The free registration drive, aligned with the Federal Government’s Renewed Hope Agenda, is expected to strengthen Nigeria’s MSME ecosystem and contribute to national economic growth.
Both agency heads commended President Bola Ahmed Tinubu for his support in empowering small businesses and fostering an enabling environment for enterprise development.
