The Federal Government has announced a massive relief package for small business owners in Nigeria, unveiling a scheme that will provide 250,000 free Corporate Affairs Commission (CAC) registrations for micro, small, and medium enterprises (MSMEs).
The initiative, launched in Abuja through a partnership between the CAC and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), will see the government waive business registration fees worth over ₦3 billion.
Registrar-General of CAC, Hussaini Ishaq Magaji, and Director-General of SMEDAN, Charles Odii, signed the Memorandum of Understanding (MoU), confirming that the scheme will help informal businesses gain access to funding, training, and markets.
According to SMEDAN, businesses already captured in its database but without CAC registration will automatically benefit. New applicants can apply through the SMEDAN portal (portal.smedan.gov.ng), while state offices and Business Clinics will support entrepreneurs who are not tech-savvy.
Government officials say the free registration is more than just paperwork — it’s about unlocking opportunities. Registered businesses will be able to access loans, government grants, technical training, and even international partnerships.
Nigeria’s small business sector, which accounts for the majority of jobs in the country, has long struggled with the cost and bureaucracy of formalisation. With this scheme, the Federal Government hopes to bring thousands of businesses into the formal economy, boosting growth under the Renewed Hope Agenda.
