In a major step to empower Nigerian entrepreneurs, the Corporate Affairs Commission (CAC) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) have launched a nationwide free business registration drive for 250,000 Micro, Small, and Medium Enterprises (MSMEs) across the country.
The initiative, officially unveiled in Abuja on Friday, September 26, follows the signing of a Memorandum of Understanding (MoU) between both agencies. It is part of the Federal Government’s Renewed Hope Agenda, designed to strengthen Nigeria’s MSME ecosystem by promoting business formalization and removing barriers to growth.
Why This Matters
For years, many small businesses in Nigeria have operated informally due to challenges such as registration costs, bureaucracy, and lack of awareness. This has limited their access to finance, government support, and market opportunities.
The new CAC–SMEDAN Free Business Name Registration Scheme eliminates these barriers by covering the entire cost of registration and linking beneficiaries directly to the SMEDAN MSME database — a move that opens the door to grants, training, technical support, and market linkages.
Key Benefits for MSMEs
Through this partnership, registered businesses will gain access to:
- Free CAC business name registration
- SMEDAN’s aftercare and support services
- Grants and capacity-building programmes
- Technical and advisory assistance
- Market linkages and networking opportunities
Statements from the Agencies
CAC Registrar-General, Hussaini Ishaq Magaji, SAN, emphasized that the initiative is about breaking the barriers that keep many entrepreneurs in the informal sector by removing the cost of registration and helping them access structured growth opportunities.
Similarly, SMEDAN Director-General, Dr. Charles Odii, described formalization as “the gateway to support”, noting that businesses registered under this scheme will enjoy continuous benefits — from funding access to training and market exposure.
The collaboration represents a significant investment in Nigeria’s MSME ecosystem. The CAC is foregoing approximately ₦3 billion in registration fees, while SMEDAN provides the ecosystem and aftercare support to ensure businesses not only register but thrive.
Together, the agencies reaffirmed that this partnership gives practical meaning to the Renewed Hope Agenda by lowering entry barriers and creating a more enabling environment for entrepreneurs nationwide.
How to Apply
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Visit the SMEDAN portal: http://portal.smedan.gov.ng
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Sign up and complete your registration on the portal.
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When asked if you have a CAC number, select “No.”
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Submit your details to complete the process.
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Once registration is completed, you will be contacted with the next steps to finalize your free CAC registration.
Note: MSMEs already registered on the SMEDAN database but without CAC registration, automatically qualify for this free registration drive.
This initiative is a golden opportunity for Nigerian entrepreneurs to formalize their businesses at no cost, gain access to growth opportunities, and position themselves for future funding and government support.
If you’re a small business owner, don’t miss this chance — register today and take a crucial step toward business growth and sustainability.
