Smart IT & Accounting Solutions

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...