The Corporate Affairs Commission (CAC) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) have commenced a nationwide programme to provide free business name registration for a quarter of a million Micro, Small and Medium Enterprises (MSMEs).
CAC disclosed this in a statement posted on its social media handles on Friday. The initiative, which aims to boost the country’s MSME sector by promoting formalization and reducing obstacles to growth, aligns with the Federal Government’s Renewed Hope agenda.
The partnership was officially launched in Abuja following the signing of a Memorandum of Understanding (MoU) between the two agencies.
Historically, many small businesses have remained in the informal sector due to high costs, complex bureaucracy, and insufficient public awareness, which often prevents them from accessing critical resources like finance, markets, and government support.
The new scheme eliminates these hindrances by covering the full cost of registration and seamlessly integrating beneficiaries into SMEDAN’s comprehensive MSME database.
Businesses successfully registered through this process will gain immediate access to vital aftercare services, including grants, capacity-building programs, technical assistance, and market linkages.
Hussaini Ishaq Magaji, the CAC Registrar-General, stressed that the free registration drive is intended to dismantle the barriers that keep many enterprises informal, enabling entrepreneurs to seize growth opportunities.
Similarly, Dr Charles Odii, the SMEDAN Director-General, highlighted that formalization is the necessary “gateway to support”, ensuring that registered businesses benefit from continuous training and market access.
Both heads noted that this collaboration represents a significant investment in the Nigerian MSME ecosystem.
The CAC is forgoing approximately ₦3 billion in registration fees, while SMEDAN will provide the necessary support structure to ensure the registered businesses not only start but also flourish.
They concluded that this joint effort gives practical expression to the Renewed Hope agenda by simplifying processes and fostering a supportive environment for entrepreneurs.
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How to Apply
MSMEs can apply by following a simple five-step process. First, visit the SMEDAN portal at portal.smedan.gov.ng.
Next, sign up and complete the registration. When asked for a CAC number, select “No.”
Then, submit the details to finish the process.
Finally, applicants will be contacted with the subsequent steps to complete their free CAC registration.
“It is important to note that MSMEs already listed on SMEDAN’s database but without CAC registration are automatically eligible for the free registration drive”, CAC added.
