The programme was officially announced in Abuja on Friday during the signing of a Memorandum of Understanding (MoU) between both agencies.
According to a joint statement, the move is part of activities marking the second anniversary in office of CAC Registrar-General Hussaini Magaji and SMEDAN Director-General Charles Odii, who both assumed office in October 2023.
For years, Nigerian entrepreneurs have struggled with cost, bureaucracy, and lack of awareness, keeping millions of small businesses in the informal sector and denying them access to finance, markets, and government support. This initiative aims to break those barriers by covering the cost of registration and linking beneficiaries to SMEDAN’s MSME database.
Registered businesses will also gain access to grants, training programmes, technical support, and market opportunities.
Speaking at the event, Magaji said ongoing reforms under President Bola Ahmed Tinubu’s administration are geared toward creating more opportunities for small businesses.
“By removing the cost of business name registration for 250,000 businesses, we are helping entrepreneurs take the first step toward legitimacy and growth. This is also an investment in the MSME ecosystem, as the Commission is forgoing about N3bn in registration fees to make this possible,” he said.
On his part, Odii emphasised that formalisation is the gateway to support, adding that the programme will help reduce the number of illegal businesses and the high collapse rate of SMEs in Nigeria.
“Every MSME in our database without CAC registration will be offered this free registration. For those who are not tech-savvy, our state offices and Business Clinics will provide onboarding support,” he explained.
He further reassured entrepreneurs that the upcoming CAC fee review will not affect the free registration scheme.
Both officials lauded President Tinubu’s commitment to MSME development, noting that the initiative aligns with his Renewed Hope agenda, aimed at lowering barriers for entrepreneurs and fostering economic growth.
How to Apply for Free Registration:
- Visit portal.smedan.gov.ng and complete the online form.
- MSMEs already in SMEDAN’s database without CAC registration automatically qualify.
- Once registered, beneficiaries will be guided on completing CAC certification.
The free registration drive is expected to strengthen Nigeria’s MSME ecosystem by promoting formalisation, boosting access to funding, and enhancing competitiveness in local and global markets.
