The Corporate Affairs Commission (CAC), in collaboration with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), has unveiled a major initiative to provide free business name registration for 250,000 nano, micro, and small enterprises (MSMEs) across the country.
The programme was officially announced in Abuja during the signing of a Memorandum of Understanding (MoU) between the two agencies. According to a joint statement, the initiative forms part of activities marking the second year in office of CAC Registrar-General, Hussaini Ishaq Magaji (SAN), and SMEDAN Director-General, Charles Odii, both appointed in October 2023.
Why the Initiative Matters
For years, millions of small business owners in Nigeria have operated informally due to the high cost of registration, bureaucratic hurdles, and limited awareness. This lack of formalisation has denied many entrepreneurs access to:
- Loans and grants
- Government support schemes
- Structured markets and partnerships
- Capacity-building programmes
The CAC–SMEDAN partnership seeks to break these barriers by covering registration costs and linking beneficiaries directly to SMEDAN’s MSME database. Through this database, registered businesses will gain access to aftercare support such as training, grants, market linkages, and technical assistance.
CAC’s Perspective
Speaking at the launch, CAC Registrar-General Hussaini Ishaq Magaji highlighted that the initiative aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda, which prioritises support for entrepreneurs and MSMEs.
He noted that Nigeria is currently benefiting from policies such as:
- Increased investment in infrastructure
- The unification of the exchange rate
- The ₦200 billion economic assistance programme for nano-businesses, SMEs, and manufacturers
Magaji further explained that by removing registration fees for 250,000 businesses nationwide, CAC is forgoing nearly ₦3 billion in potential revenue. He described it as “an investment in the future of Nigerian entrepreneurs and the broader MSME ecosystem.”
SMEDAN’s Perspective
SMEDAN Director-General Charles Odii emphasised that formalisation is the foundation for growth and sustainability of small businesses. According to him, unregistered businesses face higher risks of collapse and exclusion from government-backed opportunities.
He stated:
- Every MSME already in SMEDAN’s database without CAC registration will automatically qualify for the free registration.
- Entrepreneurs who are not digitally savvy can visit SMEDAN state offices or attend Business Clinics nationwide for support.
- The fear of taxation, a major deterrent for many small businesses, has been addressed under Nigeria’s new tax framework effective from 2026, which raises the exemption threshold for small enterprises.
Odii assured that the upcoming CAC fee review will not affect this programme, stressing that all 250,000 beneficiaries across the 36 states and the FCT will enjoy the free registration.
How to Apply for Free CAC Registration
Entrepreneurs who wish to benefit from the initiative can follow these steps:
- Visit portal.smedan.gov.ng and fill out the registration form.
- MSMEs already listed in SMEDAN’s database but without CAC registration will automatically be considered.
- Once onboarded, beneficiaries will be contacted with further instructions for CAC certification.
Broader Impact
Both CAC and SMEDAN leaders commended President Tinubu for his commitment to MSME development, describing the initiative as a practical step toward lowering barriers and strengthening Nigeria’s business environment.
By formalising 250,000 enterprises, the programme is expected to:
- Expand Nigeria’s MSME ecosystem
- Create jobs and reduce poverty
- Improve access to finance and markets
- Promote accountability and sustainable growth
This initiative marks a significant milestone in the federal government’s drive to empower entrepreneurs and accelerate economic development across Nigeria
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