President Bola Tinubu Approves Free CAC Registration for 250,000 MSMEs Across Nigeria
President Bola Tinubu has approved the free registration of 250,000 Micro, Small and Medium Enterprises (MSMEs) across Nigeria under a new initiative aimed at boosting entrepreneurship, expanding the formal business sector, and creating more economic opportunities for small business owners.
The announcement was made during the 8th National MSME Awards held at the Presidential Villa in Abuja. The initiative will be implemented through a partnership between the Corporate Affairs Commission (CAC) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN). It is designed to eliminate the cost of business registration, which has long been a major barrier for many entrepreneurs operating in the informal sector.
Under the programme, 250,000 eligible MSMEs will receive free business name registration with the Corporate Affairs Commission, enabling them to operate legally and gain access to financial services, government interventions, grants, loans, and wider business opportunities.
Beyond free registration, beneficiaries are expected to receive business development support, technical training, capacity-building programmes, and access to market opportunities through SMEDAN. The Federal Government believes the initiative will improve the survival rate of small businesses while promoting economic growth and job creation.
The programme forms part of the Tinubu administration’s Renewed Hope Agenda, which seeks to strengthen Nigeria’s MSME ecosystem by encouraging more businesses to formalise their operations. Government officials say bringing more enterprises into the formal economy will improve transparency, increase access to finance, and stimulate private sector development.
Interested entrepreneurs are expected to register through SMEDAN’s official portal. Existing businesses already captured in SMEDAN’s database but not yet registered with CAC are also expected to benefit from the initiative after completing the required documentation. Support will also be available through SMEDAN offices across the 36 states and the Federal Capital Territory for applicants who need assistance.
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The initiative is expected to significantly reduce the financial burden associated with business formalisation, encourage more Nigerians to register their businesses, and position MSMEs to access government incentives, investment opportunities, and structured business support.
