The Corporate Affairs Commission (CAC) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) have kicked off a nationwide initiative to provide free business name registration for 250,000 Micro, Small and Medium Enterprises (MSMEs).
The programme, unveiled in Abuja on September 26 during the signing of a Memorandum of Understanding (MoU) between both agencies, is aimed at promoting formalization and easing barriers to growth for small businesses in line with the Federal Government’s Renewed Hope agenda.
For many MSMEs, the cost of registration, bureaucratic hurdles, and lack of awareness have long hindered formalization, limiting access to finance, markets, and government support. The new scheme addresses these challenges by covering registration fees and linking beneficiaries directly to SMEDAN’s MSME database.
Through this database, registered businesses will be eligible for aftercare services, including grants, training, technical support, and market linkages.
CAC Registrar-General, Hussaini Ishaq Magaji (SAN), said the initiative would “break barriers that keep many businesses informal by removing the cost of registration and helping entrepreneurs access growth opportunities.”
Similarly, SMEDAN Director-General, Dr. Charles Odii, described formalization as “the gateway to support,” noting that registered businesses would benefit from continuous aftercare to ensure sustainability.
The agencies stressed that the collaboration represents a significant investment in Nigeria’s MSME ecosystem, with the CAC foregoing about ₦3 billion in fees, while SMEDAN will provide ongoing support to help businesses grow.
How to Apply
- Visit the SMEDAN portal: portal.smedan.gov.ng
- Sign up and complete registration.
- When asked if you have a CAC number, select “No.”
- Submit your details.
- Successful applicants will be contacted with next steps to finalize their free CAC registration.
MSMEs already captured on SMEDAN’s database but without CAC registration automatically qualify for the scheme.