The federal government has commenced the processing of applications for the free registration of 250,000 Micro, Small and Medium Enterprises (MSMEs) under the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN)-Corporate Affairs Commission (CAC) formalisation programme.
The initiative, approved by President Bola Tinubu, is aimed at removing the cost of business registration for eligible nano, micro and small businesses to encourage their integration into Nigeria’s formal economy.
Under the scheme, successful applicants will receive free business name registration through the Corporate Affairs Commission (CAC), with the federal government paying the statutory registration fees.
The programme was announced during the 8th National MSME Awards held at the State House, Abuja, on June 27.
Beyond the free CAC registration, beneficiaries will also receive technical training, business development support and access to opportunities designed to improve business sustainability and growth.
How to apply:
Business owners interested in the programme are required to:
1. Visit the official SMEDAN portal at portal.smedan.gov.ng
2. Create an account using their personal details, including name, email address, phone number and password.
3. Complete the MSME registration form with accurate business information.
4. Select “No” when asked whether the business already has a CAC registration number.
5. Review the information provided and submit the application.
6. Wait for confirmation from SMEDAN if the application is successful.
Businesses already registered on the SMEDAN database but without CAC registration may automatically qualify for the initiative.
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Applicants who are successful will be contacted by SMEDAN with further instructions for completing their free business name registration through the CAC.
The programme follows a Memorandum of Understanding signed between SMEDAN and the Corporate Affairs Commission to formalise 250,000 nano, micro and small enterprises across Nigeria.
According to the Presidency, the initiative is intended to remove financial barriers preventing small businesses from registering their businesses and to integrate more entrepreneurs into Nigeria’s formal banking and regulatory system.
