President Bola Tinubu has approved free registration and formalisation of 250,000 Micro, Small and Medium Enterprises (MSMEs) across Nigeria, aiming to reduce operating costs and improve access to financing, grants and government support programmes.
Announcement at MSME Awards
The approval was announced during the 8th National MSME Awards 2026 held at the State House in Abuja as part of the Federal Government's Renewed Hope Agenda to encourage entrepreneurship, job creation and financial inclusion.
Under the initiative, selected beneficiaries will receive free Business Name registration through the Corporate Affairs Commission (CAC), with the Federal Government covering the statutory registration fees usually paid by entrepreneurs.
Implementation partnership
The intervention will be implemented through a partnership between the Corporate Affairs Commission (CAC) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN). According to the Presidency, the programme is designed to remove one of the biggest barriers preventing many nano, micro and small businesses from becoming formally registered.
Officials said formalising businesses would allow more entrepreneurs to become part of Nigeria's official business, banking and regulatory system while opening opportunities to access government interventions and private-sector financing.
Additional support for beneficiaries
Beyond the free CAC registration, beneficiaries will also receive technical training and business support to improve the sustainability and long-term growth of their enterprises. The programme builds on an earlier Memorandum of Understanding signed between CAC and SMEDAN in 2025 to register 250,000 businesses nationwide at no cost to entrepreneurs.
At the time, CAC said it would forgo about ₦3 billion in registration fees to encourage more Nigerians to formalise their businesses.
5 quick steps to apply
Entrepreneurs can follow these five steps to apply for the free CAC registration:
- Register on the SMEDAN portal: Visit the official SMEDAN registration portal and create an account using your personal details and business information.
- Complete your business profile: Provide accurate information about your business, including its name, location, business activity and ownership details. Existing SMEDAN-registered businesses without CAC registration are also eligible.
- Obtain your SMEDAN identification number: After completing your registration, you will receive a SMEDAN Unique Identification Number (SUIN), which is required for the CAC registration process.
- Wait for CAC processing: Qualified applicants will have their Business Name registration processed by the Corporate Affairs Commission without paying the usual statutory registration fee.
- Receive your registration documents: Once approved, you will receive your official CAC Business Name registration documents and become eligible for additional training, business development support and other government interventions.
Expected impact
The Federal Government said the initiative is expected to encourage more entrepreneurs to operate within the formal economy, improve business credibility and make it easier for small enterprises to access loans, grants and investment opportunities.
