The Corporate Affairs Commission (CAC), in partnership with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), has begun a free business registration scheme for 250,000 Micro, Small, and Medium Enterprises (MSMSEs) nationwide.
The scheme is tailored to strengthen Nigeria’s Micro, Small, and Medium Enterprises (MSMEs) by promoting formalization among entrepreneurs and reducing barriers to growth, which aligns with the Federal Government’s Renewed Hope vision.
According to a report by the Ministry of Interior, the initiative was announced on Friday, September 26, during the signing of Memorandums of Understanding (MoU) between the two agencies.
The agencies noted that formalization has long been a challenge for many businesses, keeping millions in the informal sector, and a lack of awareness leading to denial of access to finance, markets, and government support, stressing that the new scheme will remove these barriers by covering the cost of registration and linking of beneficiaries directly to SMEDAN’s MSME database.
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Through this database, registered businesses will gain access to aftercare services and opportunities such as grants, capacity-building programmes, technical support, and market linkage, the agencies added.
CAC Registrar-General Hussaini Ishaq Magaji, SAN, highlighted that the free registration drive seeks to eliminate obstacles keeping many businesses in the informal sector by waiving registration fees and enabling entrepreneurs to access growth opportunities.
SMEDAN Director-General Dr. Charles Odii added that:
Formalization is the gateway to support, noting that registered businesses will benefit from continuous aftercare, such as grants, training, and market access.
Speaking together, the two directors highlighted the significant investment in Nigeria’s MSME ecosystem, with CAC waiving approximately ₦3 billion in fees and SMEDAN offering a robust support system to help businesses both register and succeed. They noted that this partnership brings the Federal Government’s Renewed Hope agenda to life by reducing obstacles and fostering a supportive environment for entrepreneurs.
HOW TO APPLY
1. Visit the SMEDAN portal.
2. Sign up and complete your registration on the portal.
3. When asked if you have a CAC number, select “No”.
4. Submit your details to complete the process.
5. Once registration is completed, you will be contacted with the next steps to finalize your free CAC registration.
MSMEs already on SMEDAN’s database without CAC registration automatically qualify for this free registration drive.
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