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The Federal Government has opened applications for free registration of 250,000 Micro, Small and Medium Enterprises under the SMEDAN-CAC formalization programme, removing the cost of business registration for eligible nano, micro and small businesses.
The initiative, approved by President Bola Tinubu, enables successful applicants to receive free Business Name registration through the Corporate Affairs Commission, with the Federal Government covering statutory fees.
The programme was announced during the 8th National MSME Awards at the State House, Abuja, on June 27. Beyond free registration, beneficiaries will receive technical training, business development support and access to opportunities aimed at improving business sustainability and growth. Applications are open via the SMEDAN portal at portal.smedan.gov.ng.
Key Points:
Small business owners can now formalise operations without registration costs.
Access to formal banking and the regulatory ecosystem improves business growth prospects.
Entrepreneurs benefit from technical training and business development support.
Free registration signals government commitment to supporting the informal sector.
Timing of the programme, amid economic challenges, offers relief to small businesses.
Application uptake and the programme’s impact on formalising Nigeria’s informal business sector.
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