The Corporate Affairs Commission (CAC) has partnered with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) to roll out a nationwide initiative offering free business registration to 250,000 nano, micro, and small enterprises (NMSEs) across the country.
The programme was officially unveiled in Abuja on Friday following the signing of a Memorandum of Understanding (MoU) between both agencies. The agreement forms part of activities marking the second year in office of CAC Registrar-General, Hussaini Ishaq Magaji, SAN, and SMEDAN Director-General, Dr. Charles Odii, who were appointed in October 2023.For years, many small business owners have struggled to formalize their operations due to registration costs, bureaucratic processes, and limited awareness. As a result, millions remain in the informal sector, unable to access funding, structured markets, or government-backed support.
The new CAC–SMEDAN initiative aims to remove these obstacles by fully covering registration fees and integrating beneficiaries into SMEDAN’s MSME database.
According to CAC Registrar-General, Hussaini Ishaq Magaji, SAN, businesses captured in the database will benefit from continuous support, including grants, training programmes, technical assistance, and access to market opportunities.He explained that the initiative is designed to lower the entry barrier for small businesses and encourage more entrepreneurs to formalize their operations.
Magaji noted that by waiving business name registration fees for 250,000 enterprises, the Commission is enabling growth, legitimacy, and broader access to opportunities, while also sacrificing an estimated ₦3 billion in registration revenue to strengthen Nigeria’s MSME ecosystem.
SMEDAN Director-General, Charles Odii, emphasized that formal registration is a crucial step for any small business seeking government or institutional support. He stated that once businesses are registered and onboarded into SMEDAN’s system, the agency can provide long-term assistance, ranging from grants and capacity-building to market access.
Also added that MSMEs interested in benefiting from the programme must first register on SMEDAN’s portal at portal.smedan.gov.ng. He also assured entrepreneurs who are less familiar with digital platforms that SMEDAN offices across all states, as well as physical outreach events such as Business Clinics, will be available to help with registration and onboarding.
