In a major effort to strengthen Nigeria’s Micro, Small, and Medium Enterprises (MSME) ecosystem, the Corporate Affairs Commission (CAC) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) have launched a nationwide initiative to register 250,000 small businesses for free.
The scheme, unveiled in Abuja on September 26, follows the formal signing of a Memorandum of Understanding (MoU) between the two agencies. It supports the Federal Government’s Renewed Hope Agenda, which focuses on reducing entry barriers for young entrepreneurs and creating a more inclusive economy.
Speaking at the launch, CAC Registrar-General Hussaini Ishaq Magaji (SAN) said the initiative was designed to remove the obstacles preventing small businesses from joining the formal economy.
“This programme is a deliberate step to help informal businesses transition into visibility,” he explained. “Registration opens access to credit, markets, and government incentives that were previously out of reach.”
Dr. Charles Odii, Director-General of SMEDAN, described the collaboration as a “milestone moment” in the country’s drive to strengthen the MSME sector.
“When a business becomes formal, it becomes visible,” Odii said. “Visibility leads to support — through funding, training, and market linkages that can transform the trajectory of small enterprises.”
Under the new scheme, the CAC is waiving approximately ₦3 billion in registration fees, while SMEDAN will provide post-registration support via its national MSME database. The initiative directly addresses long-standing hurdles such as high registration costs, bureaucracy, and lack of awareness, which have kept many entrepreneurs in the informal sector.
Registered businesses will also gain access to capacity-building programmes, technical assistance, and financing opportunities aimed at improving sustainability and competitiveness.
Both agencies emphasized that the project will be implemented across all 36 states and the FCT, ensuring every qualified entrepreneur has access.
“This collaboration brings the Renewed Hope Agenda to life,” the agencies said in a joint statement. “It’s an investment in innovation, job creation, and national prosperity.”
How to Apply
Entrepreneurs can register through the SMEDAN portal by signing up and selecting “No” when asked if they already have a CAC number. Those already listed in the SMEDAN database but without CAC registration will automatically qualify for the free programme.
Industry observers describe the CAC–SMEDAN collaboration as a potential game-changer for Nigeria’s informal economy, one that could unlock new access to finance, mentorship, and structured growth for thousands of emerging businesses.
