The Federal Government has unveiled a nationwide initiative to provide free Corporate Affairs Commission (CAC) business name registration for 250,000 Micro, Small and Medium Enterprises (MSMEs) through a partnership between the Corporate Affairs Commission (CAC) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN).
The programme is designed to encourage business formalisation, improve access to finance and government support, and lower the cost of doing business. Here are seven key things entrepreneurs should know about the initiative.
7 Key facts every MSME should know
It is completely free
The Federal Government will pay the cost of registering 250,000 eligible businesses. Entrepreneurs do not have to pay CAC registration fees under the scheme.
It is a partnership between CAC and SMEDAN
The initiative is being implemented by the Corporate Affairs Commission (CAC) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), with approval from President Bola Ahmed Tinubu.
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The goal is to formalise small businesses
Many Nigerian MSMEs operate informally, limiting their access to loans, grants, government programmes, and larger markets. The initiative aims to bring more businesses into the formal economy.
Registration opens the door to more opportunities
Beyond obtaining a CAC certificate, beneficiaries will be enrolled in SMEDAN’s support ecosystem, giving them access to business training, grants, capacity-building programmes, technical support, market linkages, and other government interventions.
Applications are made through the SMEDAN portal
Interested entrepreneurs should register on the SMEDAN portal, complete their profile, indicate that they do not already have a CAC registration, and submit their application. Eligible applicants will be contacted with the next steps.
Existing SMEDAN members can also benefit
MSMEs already registered on SMEDAN’s database but without a CAC business registration automatically qualify for the initiative and do not need to start the process from scratch.
The programme represents a major government investment
The initiative covers the registration cost for 250,000 businesses. According to the agencies, CAC is foregoing about ₦3 billion in registration fees, while SMEDAN will provide post-registration support to help businesses grow and remain sustainable.
HOW TO APPLY
1. Visit the SMEDAN portal, portal.smedan.gov.ng
2. Sign up and complete your registration on the portal.
3. When asked if you have a CAC number, select “No”.
4. Submit your details to complete the process.
5. Once registration is completed, you will be contacted with the next