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The Corporate Affairs Commission (CAC) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) have launched a nationwide drive to provide free business registration for 250,000 nano, micro, and small enterprises.
The initiative was announced in Abuja during the signing of a Memorandum of Understanding between the two agencies.
A statement issued by both agencies on Friday noted that the campaign forms part of activities marking the second year in office of CAC Registrar-General Hussaini Magaji and SMEDAN Director-General Charles Odii, who were both appointed in October 2023.
Formalisation has long been a hurdle for many small businesses, with cost, bureaucracy, and lack of awareness keeping millions of entrepreneurs in the informal sector.
This often denies them access to finance, markets, and government support. The new CAC–SMEDAN scheme removes these barriers by covering the cost of registration and linking beneficiaries directly to SMEDAN’s MSME database.
Through this database, registered businesses will gain access to aftercare and opportunities such as grants, capacity-building programmes, technical support, and market linkages.
Speaking at the event, the CAC Registrar-General said ongoing reforms under President Bola Tinubu’s administration were designed to expand opportunities for small businesses and entrepreneurs across the country.
Highlighting recent policies, he noted that Nigeria was “witnessing unprecedented investment in infrastructure, the unification of the exchange rate, and targeted support such as the N200bn economic assistance programme for nano businesses, SMEs and manufacturers.
“This drive is about breaking down the barriers that keep too many of our small businesses informal. By removing the cost of business name registration for 250,000 businesses, we are helping more entrepreneurs take the first step towards growth, legitimacy, and access to bigger opportunities. It is also an investment in the MSME ecosystem, as the Commission is forgoing approximately N3bn in registration fees to make this possible.”
SMEDAN Director-General Charles Odii added that the initiative aims to reduce the number of illegal businesses and decrease the collapse rate of SMEs in Nigeria.
“Formalisation is the gateway to support. By ensuring these businesses are registered and onboarded into our database, we can provide continuous aftercare, whether that is access to grants, training, or new markets. The first step for any MSME wishing to benefit is to register on our portal at portal.smedan.gov.ng.
“Every MSME in our database without CAC registration will be offered this free registration initiative. For those who are not digital natives, SMEDAN State Offices nationwide will provide support, and at physical events such as our Business Clinics, the agency will also be available to onboard entrepreneurs.
“Importantly, the fear of taxation, which often discourages small businesses, has been addressed by reforms in the new tax framework coming into effect in 2026, which raise the exemption threshold. This collaboration with CAC is a practical way to give real meaning to the Renewed Hope agenda for our entrepreneurs,” Odii said.
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