Reported by: Agande Richard Aondofa | Edited by: Henry Owen
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 Micro, Small, and Medium Enterprises (MSMEs). The program aims to strengthen Nigeria’s MSME ecosystem by promoting formalization and reducing barriers to growth, aligning with the Federal Government’s Renewed Hope vision.
The announcement was made in Abuja on Friday, September 26, during the signing of a Memorandum of Understanding (MoU) between the two agencies. Formalization has long been a challenge for small businesses, with costs, bureaucracy, and lack of awareness keeping millions in the informal sector, thereby limiting their access to finance, markets, and government support. The new CAC–SMEDAN scheme removes these barriers by covering registration costs and linking beneficiaries directly to SMEDAN’s MSME database.
Through this database, registered businesses will gain access to aftercare services and opportunities, including grants, capacity-building programs, technical support, and market linkages. CAC Registrar-General Hussaini Ishaq Magaji, SAN, emphasized that the free registration drive seeks to break barriers that keep many businesses informal by eliminating registration costs and facilitating growth opportunities.
SMEDAN Director-General Dr. Charles Odii highlighted that formalization serves as the gateway to support, noting that registered businesses will benefit from continuous aftercare, including training, grants, and market access. Together, the agencies underscored that the initiative represents a significant investment in Nigeria’s MSME ecosystem, with CAC foregoing about ₦3 billion in fees, while SMEDAN provides the support system to ensure that businesses not only register but also thrive. The collaboration exemplifies the Federal Government’s Renewed Hope agenda by lowering barriers and creating an enabling environment for entrepreneurs.
How to Apply:
MSMEs can register through the SMEDAN portal at http://portal.smedan.gov.ng. During registration, select "No" when asked if you already have a CAC number, submit your details, and follow the instructions to finalize your free registration. MSMEs already in SMEDAN’s database without CAC registration automatically qualify.
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