The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has officially opened the approval process for free business name registration in partnership with the Corporate Affairs Commission (CAC), offering 250,000 micro, small and medium enterprises (MSMEs) across Nigeria the opportunity to formalise their businesses without paying statutory fees.
The nationwide initiative launched under the Federal Government’s Renewed Hope Agenda aims to break down longstanding barriers that have kept millions of entrepreneurs in the informal sector, such as costs, bureaucracy and low awareness about registration benefits.
How the Free Registration Works
Under the programme, the CAC has waived all statutory fees associated with business name registration for 250,000 eligible MSMEs. SMEDAN is responsible for mobilising, profiling and preparing businesses for registration, then onboarding them into CAC’s system so they can receive official certification without delay.
CAC Registrar-General Hussaini Ishaq Magaji, SAN, said the scheme is designed to remove financial barriers for small business owners and give them a legal identity that improves credibility and access to opportunities.
SMEDAN Director-General Charles Odii highlighted that formalised businesses will be linked to SMEDAN’s MSME database, opening doors to aftercare services, including access to grants, capacity-building programmes, technical support and market linkages.
Why It Matters for Entrepreneurs
Formal registration is often a major hurdle for startups and small enterprises due to out-of-pocket costs that can range from informal agent fees to official charges. By waiving about ₦3 billion in fees, the initiative helps entrepreneurs take a critical step toward growth, legitimacy and access to a broader market.
Formalised businesses can also access bank accounts, financing options, government interventions, and export opportunities more easily key factors that can help MSMEs scale and increase their contributions to economic growth.
How to Register
Interested business owners can begin the process by visiting portal.smedan.gov.ng and completing the registration form. MSMEs already listed in SMEDAN’s database but without existing CAC registration will automatically qualify and receive guidance on next steps.
SMEDAN also plans to support entrepreneurs who are not tech-savvy through state-level offices and business clinics, ensuring broader access to the programme.
By helping informal businesses formalise, the initiative is expected to expand Nigeria’s official business registry, strengthen the MSME ecosystem, and improve data quality for policy design and implementation. Formalisation also enhances compliance with regulations and tax systems, particularly ahead of new tax reforms taking effect in January 2026.
