The Corporate Affairs Commission (CAC) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) have unveiled a transformative initiative to provide free business registration for 250,000 Micro, Small, and Medium Enterprises (MSMEs) across Nigeria.
Launched on September 26 in Abuja through a Memorandum of Understanding (MoU), the program aims to formalize the MSME sector, reduce growth barriers, and align with the Federal Government’s Renewed Hope agenda.
The initiative tackles longstanding challenges such as high registration costs, bureaucratic hurdles, and low awareness, which have kept millions of small businesses in the informal sector, limiting their access to finance, markets, and government support.
By covering registration fees estimated at ₦3 billion CAC will enable entrepreneurs to formalize their businesses, while SMEDAN integrates them into its MSME database for ongoing support.
CAC Registrar-General Hussaini Ishaq Magaji, SAN, emphasized that the drive seeks to dismantle barriers to formalization, enabling businesses to unlock growth opportunities.
SMEDAN Director-General Dr. Charles Odii highlighted that registered MSMEs will access aftercare services, including grants, capacity-building programs, technical support, and market linkages.
“Formalization is the gateway to sustainable growth,” Odii said, underscoring the initiative’s role in fostering thriving enterprises.
The collaboration, described as a major investment in Nigeria’s MSME ecosystem, aims to create an enabling environment for entrepreneurs, ensuring they not only register but also succeed.
By combining CAC’s registration expertise with SMEDAN’s support framework, the initiative delivers on the Renewed Hope vision, empowering small businesses to drive economic growth and job creation nationwide.
MSMEs already on SMEDAN’s database without CAC registration automatically qualify for this free registration drive.
Small businesses are encouraged to visit SMEDAN portal: portal.smedan.gov.ng, to Commence registration.
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