Thousands of small business owners across Nigeria are set to benefit from a major federal government initiative after President Bola Ahmed Tinubu approved the free CAC registration of 250,000 Micro, Small and Medium Enterprises (MSMEs).
The announcement was made on Saturday during the 8th National MSME Awards 2026 held at the State House in Abuja. Consequently, eligible business owners will no longer have to pay the standard registration fee charged by the Corporate Affairs Commission (CAC).
Moreover, the initiative is expected to help more entrepreneurs gain access to financing, grants, partnerships and wider business opportunities by bringing them into Nigeria’s formal business system.
According to the Presidency, the programme is designed to support nano, micro and small businesses by removing the cost of registering a business name. Beneficiaries will also receive additional support to improve their chances of long-term success.
The Presidency explained that successful applicants will enjoy complete business name registration at no cost.
Previously, entrepreneurs paid about N21,000 to complete the registration process. However, under the new programme, that fee has been waived entirely.
The Presidency also encouraged Nigerians to take advantage of the opportunity.
“Before: N21,000. Now: FREE.”
It further stated:
“No registration fee. Just an opportunity to formalise your business, build credibility and open new doors to finance, grants, partnerships and markets.”
In addition to the free registration, beneficiaries will receive technical training aimed at improving business management and sustainability. Furthermore, the government said participants would also benefit from continued guidance designed to strengthen their businesses.
According to the Presidency, the intervention is being implemented through a partnership between the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) and the Corporate Affairs Commission.
The statement added:
“The implementation of this policy is driven through a strategic partnership involving the CAC and the Small and Medium Enterprises Development Agency of Nigeria, SMEDAN.”
Furthermore, officials described the programme as a major financial relief for entrepreneurs across the country.
The Presidency also noted:
“Top officials within the regulatory agencies noted that the waiver represents a significant financial concession aimed entirely at driving down the high mortality rate of small businesses nationwide.”
Interested business owners have been advised to complete their registration through the official SMEDAN portal to secure available slots.https://portal.smedan.gov.ng/
Meanwhile, the government urged entrepreneurs, traders, artisans, creators and young innovators to take advantage of the programme before the available spaces are filled.
The Presidency encouraged Nigerians to spread the information to eligible business owners.
“If you know a young entrepreneur, trader, creator, artisan or small business owner who needs this, please share it with them.”
It also advised:
“Register through SMEDAN today. Don’t sleep on this opportunity.”
As more businesses join the formal economy, the programme is also expected to strengthen financial inclusion, improve tax records and create new opportunities for economic growth.
