The Federal Government has started accepting applications for the free registration of 250,000 Micro, Small and Medium Enterprises (MSMEs) under a new programme being implemented by the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) and the Corporate Affairs Commission (CAC).
The initiative, approved by President Bola Tinubu, will allow eligible nano, micro and small businesses to register their business names at no cost, with the Federal Government paying the statutory registration fees.
The programme, announced during the 8th National MSME Awards held at the State House in Abuja, is aimed at helping more small businesses join Nigeria’s formal economy and gain access to government support.
According to the government, beneficiaries will not only receive free CAC Business Name registration but will also benefit from technical training, business development services and opportunities to support the growth and sustainability of their businesses.
To apply, interested business owners are required to visit the SMEDAN portal, create an account with their personal details, complete the MSME registration form, indicate that they do not already have a CAC registration number, review their information and submit the application.
The government added that businesses already registered with SMEDAN but without CAC registration may automatically qualify for the programme.
Successful applicants will be contacted by SMEDAN with further instructions on completing their free Business Name registration with the Corporate Affairs Commission.
The programme follows a Memorandum of Understanding signed between SMEDAN and the CAC to formalise 250,000 nano, micro and small businesses across the country.
According to the Presidency, the initiative is designed to remove the financial burden of business registration, encourage entrepreneurship and integrate more businesses into Nigeria’s formal banking and regulatory system.
