In a bid to promote formalisation and support small businesses, the Corporate Affairs Commission (CAC) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) have launched a nationwide campaign to provide free business name registration for 250,000 nano, micro and small enterprises (MSMEs).
The initiative was unveiled in Abuja, where both agencies signed a Memorandum of Understanding (MoU) to facilitate the scheme.
A joint statement released by CAC and SMEDAN said the drive is part of commemorating the second year in office of CAC Registrar‑General Hussaini Magaji and SMEDAN Director‑General Charles Odii, both appointed in October 2023.
Formal registration has long been a barrier for many small businesses in Nigeria. Costs, bureaucratic processes, and lack of awareness often keep entrepreneurs in the informal sector, limiting their access to finance, markets, and government support.
This new campaign seeks to remove those hurdles by covering the registration cost for eligible MSMEs, onboarding beneficiaries into SMEDAN’s MSME database and connecting them with aftercare services, including training, grants, and market linkages.
At the event, CAC’s Registrar‑General emphasized that current reforms under President Bola Tinubu are designed to expand opportunities for small businesses across Nigeria.
“This drive is about breaking down the barriers that keep too many of our small businesses informal. By removing the cost of business name registration for 250,000 businesses, we are helping more entrepreneurs take the first step towards growth, legitimacy, and access to bigger opportunities,” he said, adding that CAC will forgo approximately N3 billion in registration fees for this scheme.
SMEDAN’s DG, Charles Odii, noted that this collaboration not only encourages formalisation but also addresses the high failure rate of SMEs.
“Formalisation is the gateway to support. By ensuring these businesses are registered and onboarded into our database, we can provide continuous aftercare, whether that is access to grants, training, or new markets,” Odii said.
He explained that MSMEs already in SMEDAN’s database but without CAC registration will automatically qualify for this programme.
Odii further assured that an upcoming CAC fee review will not affect this free registration drive.
To benefit from the programme, Visit portal.smedan.gov.ng to fill out the registration form, MSMEs on SMEDAN’s database without CAC registration will automatically qualify, Once registered, beneficiaries will receive instructions on how to complete their CAC certification.
Across Nigeria’s 36 states and the Federal Capital Territory, SMEDAN’s state offices and on‑ground Business Clinics will assist entrepreneurs who may face challenges with digital processes.
By lowering the barriers to formalisation, this initiative aligns with the Renewed Hope agenda, aiming to foster a more enabling environment for entrepreneurship in Nigeria.
