News Update
THE Corporate Affairs Commission (CAC), in collaboration with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), has unveiled a nationwide initiative to provide free business registration for 250,000 nano, micro, and small enterprises.
The partnership was formalised through a Memorandum of Understanding signed in Abuja, where both agencies acknowledged that many entrepreneurs remain trapped in the informal sector due to costs, bureaucracy, and lack of awareness.
SMEDAN Director General, Charles Odii, said the new scheme eliminates these barriers by covering registration costs and integrating beneficiaries into SMEDAN’s MSME database.
This database, he explained, will grant access to grants, technical support, capacity-building programmes, and market linkages.
Registrar-General of the CAC, Hussaini Ishaq Magaji, emphasised that the initiative will break down obstacles to formalisation, noting that by waiving ₦3 billion in registration fees, the government is paving the way for small businesses to achieve legitimacy, growth, and access to wider opportunities.
The free registration drive, aligned with the Federal Government’s Renewed Hope Agenda, is expected to strengthen Nigeria’s MSME ecosystem and foster economic growth.
Both agency heads commended President Bola Ahmed Tinubu for his commitment to empowering small businesses and creating an enabling business environment.
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