The Federal Government has commenced applications for the free registration of 250,000 Micro, Small and Medium Enterprises (MSMEs) under the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN)-Corporate Affairs Commission (CAC) Formalisation Programme.
The initiative, approved by President Bola Tinubu, is aimed at removing the cost of business registration for eligible nano, micro and small businesses to encourage their participation in Nigeria’s formal economy.
Successful applicants will receive free Business Name registration through the Corporate Affairs Commission, with the Federal Government covering the statutory registration fees.
The programme was announced during the 8th National MSME Awards held at the State House, Abuja, on June 27.
Beyond free registration, beneficiaries will also benefit from technical training, business development support and access to opportunities designed to improve business sustainability and growth.
According to the guidelines released for the programme, interested business owners are required to visit the SMEDAN registration portal, create an account with their personal details, complete the MSME registration form with accurate business information, select “No” when asked if the business already has a CAC registration number, review the information provided and submit their application.
Businesses already registered on the SMEDAN database but without CAC registration may also qualify for the programme.
Successful applicants will be contacted by SMEDAN with further instructions for their free CAC Business Name registration.
The initiative follows a Memorandum of Understanding signed between SMEDAN and the Corporate Affairs Commission to formalise 250,000 nano, micro and small enterprises nationwide.
The Presidency said the programme is intended to eliminate the financial burden of business registration and integrate more small businesses into Nigeria’s formal banking and regulatory system, thereby enhancing their access to government support and business opportunities.
