The Federal Government has commenced applications for the free registration of 250,000 Micro, Small and Medium Enterprises under the Small and Medium Enterprises Development Agency of Nigeria and Corporate Affairs Commission formalisation programme. Approved by President Bola Tinubu, the initiative is aimed at removing the cost of business registration for eligible nano, micro and small enterprises to encourage more businesses to join the formal economy.
Under the programme, successful applicants will receive free Business Name registration through the Corporate Affairs Commission, with the Federal Government covering the statutory registration fees. Beneficiaries will also have access to technical training, business development support and other opportunities designed to improve the growth and sustainability of their businesses.
Interested entrepreneurs are required to register through the official SMEDAN portal by creating an account, completing the MSME registration form and indicating that their business is not yet registered with the Corporate Affairs Commission. Businesses already listed on the SMEDAN database but without CAC registration may also qualify automatically for the programme.
The initiative follows a Memorandum of Understanding between SMEDAN and the Corporate Affairs Commission to formalise 250,000 businesses nationwide. Announced during the 8th National MSME Awards in Abuja, the programme is expected to reduce financial barriers to business registration while improving access to finance, government support and regulatory services for small enterprises.