The Corporate Affairs Commission and the Small and Medium Enterprises Development Agency of Nigeria have launched a nationwide initiative to provide free business name registration for 250,000 nano, micro, and small enterprises across the country.
The programme was officially announced on Friday in Abuja during the signing of a Memorandum of Understanding between both agencies.
The initiative also marks the second anniversary of the appointments of CAC Registrar-General, Hussaini Magaji, and SMEDAN Director-General, Charles Odii, who assumed office in October 2023.
Aimed at overcoming long-standing challenges faced by small businesses in Nigeria, the programme targets key barriers such as high registration costs, bureaucratic processes, and limited awareness.
Millions of small business operators remain in the informal sector, hindering their access to finance, markets, and government support schemes.
Under the new arrangement, the CAC will waive business name registration fees, while SMEDAN will onboard all beneficiaries into its MSME database. Registered businesses will then gain access to post-registration support, including capacity-building programmes, technical assistance, grant opportunities, and market linkages.
Speaking at the event, CAC Registrar-General Hussaini Magaji said the initiative supports the broader economic reforms being pursued by President Bola Tinubu’s administration to strengthen entrepreneurship and job creation.
“This drive is about breaking down the barriers that keep too many of our small businesses informal,” Magaji stated.
“By removing the cost of business name registration for 250,000 businesses, we are helping entrepreneurs take the first step toward growth, legitimacy, and access to bigger opportunities. It is also an investment in the MSME ecosystem, as the Commission is forgoing approximately N3bn in registration fees to make this possible.”
He also cited the administration’s policies, including significant infrastructure investment, exchange rate reforms, and the N200 billion economic intervention fund for nano businesses, SMEs, and manufacturers, as clear signals of federal support for small business growth.
SMEDAN Director-General Charles Odii described the initiative as a strategic move to address the high rate of informality among small businesses, which limits their ability to grow and access support.
“Formalisation is the gateway to support,” Odii said. “By ensuring that businesses are registered and onboarded into our database, we can provide continuous aftercare, whether that’s access to grants, training, or new markets. The first step for any MSME wishing to benefit is to register on our portal at portal.smedan.gov.ng.”
He explained that MSMEs already captured in SMEDAN’s database but lacking CAC registration would automatically qualify for the scheme. To ensure accessibility for entrepreneurs who may not be digitally inclined, Odii added that SMEDAN State Offices and Business Clinics nationwide would assist with physical onboarding.
Addressing concerns over taxation, Odii clarified that new tax policies set to take effect in 2026 would raise the exemption thresholds for small businesses, ensuring that registration does not translate into an immediate tax burden.
He also confirmed that the upcoming CAC fee review would not affect the free registration programme. “Regardless of the review, 250,000 small businesses across the 36 states and the FCT will enjoy free registration,” he said.
Both officials praised President Tinubu for his continued commitment to MSME development and emphasized that the initiative aligns with his Renewed Hope agenda, which aims to remove barriers and promote a more inclusive and supportive environment for entrepreneurship in Nigeria.
