The Federal Government has officially opened applications for the free registration of 250,000 Micro, Small and Medium Enterprises (MSMEs) under a new initiative aimed at supporting business growth and expanding Nigeria's formal economy.
The programme, implemented through a partnership between the Corporate Affairs Commission (CAC) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), will enable eligible entrepreneurs to register their businesses at no cost.
The initiative is expected to reduce the financial burden on small business owners while giving them access to government-backed funding opportunities, training programmes, and other support services that are usually unavailable to unregistered businesses.
Seven Important Things Every Entrepreneur Should Know
Here are seven important things every entrepreneur should know before applying.
1. CAC Registration Is Completely Free
Successful applicants will not pay any fee for their CAC business name registration. The Federal Government will cover the registration costs for up to 250,000 eligible businesses, removing one of the biggest barriers preventing many entrepreneurs from formalising their operations.
2. The Programme Is Backed by CAC and SMEDAN
The initiative is being jointly implemented by the Corporate Affairs Commission (CAC) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN). It forms part of the Federal Government's efforts, under President Bola Ahmed Tinubu's administration, to strengthen the MSME sector and encourage more businesses to operate legally.
3. It Is Designed to Formalise Small Businesses
Millions of Nigerian businesses operate without formal registration, limiting their ability to access loans, grants, investment opportunities and government interventions. By registering through this programme, entrepreneurs can obtain legal recognition, improve their credibility and position themselves for future growth.
4. Registration Comes With More Than a CAC Certificate
The benefits extend beyond the issuance of a business registration certificate. Beneficiaries will become part of SMEDAN's business support ecosystem, giving them access to capacity-building programmes, entrepreneurship training, technical support, grants, market opportunities and other government initiatives designed to help small businesses thrive.
5. Applications Must Be Submitted Through the SMEDAN Portal
Interested entrepreneurs must submit their applications online via the SMEDAN portal. Applicants must create an account, complete their business profile and indicate that they do not already have a CAC registration before submitting their details. Qualified applicants will be contacted with further instructions after their applications have been reviewed.
6. Existing SMEDAN Members Without CAC Registration Can Apply
Business owners who are already registered with SMEDAN but have not obtained a CAC business registration are also eligible. They do not need to create a fresh account but can update their existing records and proceed with the application process.
7. Government Is Investing Billions to Support MSMEs
The programme represents one of the largest business formalisation drives in recent years. According to the implementing agencies, CAC is waiving about ₦3 billion in registration fees, while SMEDAN will provide post-registration support to help participating businesses become more competitive and sustainable.
How to Apply
Entrepreneurs interested in the programme can follow these steps:
- Visit the SMEDAN portal.
- Create an account and complete your profile.
- When asked whether you already have a CAC number, select 'No.'
- Submit your application after completing all required information.
- Wait to be contacted by SMEDAN with the next stage of the registration process if your application is successful.
The Federal Government says the initiative is expected to boost entrepreneurship, create more formal businesses, improve access to finance and stimulate economic growth by helping thousands of Nigerian MSMEs transition into the formal sector.
