In a landmark move to support small businesses, the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has partnered with the Corporate Affairs Commission (CAC) to provide free business registration for 250,000 Micro, Small, and Medium Enterprises (MSMEs) across Nigeria.
The Memorandum of Understanding (MoU) for this initiative was signed at the CAC Head Office in Abuja, with top officials including Registrar General of CAC, Hussaini Ishaq Magaji, and Director-General of SMEDAN, Charles Odii in attendance.
Why This Matters for Entrepreneurs
Ordinarily, registering a business with CAC costs around ₦11,000, which many small business owners find difficult to afford. With this new partnership, however, 250,000 entrepreneurs will now be able to register their businesses completely free of charge.
This step directly aligns with President Bola Ahmed Tinubus Renewed Hope Agenda, which seeks to:
- Break down barriers for entrepreneurs.
- Encourage innovation across sectors.
- Support nationwide job creation.
Benefits of Free CAC Registration for MSMEs
This program goes beyond free registration. For MSMEs, it is a gateway to:
- Formalization – making businesses legally recognized.
- Credibility – boosting trust with customers, partners, and investors.
- Access to Government Support – grants, loans, and interventions are often limited to registered businesses.
- Growth Opportunities – positioning for expansion in both local and international markets.
A Step Toward Inclusive Growth
Both SMEDAN and CAC have reaffirmed their commitment to empowering Nigerian entrepreneurs. According to the DG of SMEDAN, Charles Odii, this collaboration is designed to remove obstacles holding back small businesses and create an enabling environment for sustainable growth.
This initiative is expected to open doors for thousands of young entrepreneurs, traders, artisans, and startups who have been operating informally due to registration costs.
If you own a small business in Nigeria, this is your chance to get your business registered with CAC at no cost, thanks to the new CAC-SMEDAN partnership.
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