FG invites Tailor, Hairdressers, Barbers, Other SMEs To Register Business for Free, Shares Link
- Federal government through CAC and SMEDAN launch free business registration for 250,000 nano, micro and small enterprises nationwide
- The Registered businesses to gain access to grants, training, technical support and new markets via SMEDAN’s MSME database
- The initiative waives ₦3 billion in fees to actualise the formalisation of small businesses in Nigeria
Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
The Corporate Affairs Commission (CAC) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) have launched a nationwide initiative to provide free business registration for 250,000 nano, micro and small enterprises (NMSMEs).
Th move the government believes will help reduce barriers to formalisation.
Source: Getty Images
The scheme was announced on Friday, September 26 in Abuja at the signing of a Memorandum of Understanding (MoU) between CAC Registrar-General Hussaini Ishaq Magaji and SMEDAN Director-General Charles Odii.
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The move forms part of activities marking their second year in office and aligns with the Federal Government’s Renewed Hope Agenda, which seeks to support entrepreneurs and strengthen the small business ecosystem.
Why free registrations for SMEs.
The CAC–SMEDAN scheme aims to close that gap by covering registration fees and onboarding beneficiaries into SMEDAN’s Micro, Small and Medium Enterprises (MSME) database.
Through this database, businesses can access continuous aftercare and additional opportunities such as grants, training, technical support and market linkages, BusinessDay reports.
Speaking on the MoU, CAC boss said:
““This initiative focuses on removing the obstacles that keep many small businesses outside the formal sector. By eliminating the cost of registering 250,000 business names, we are enabling more entrepreneurs to take their first step toward growth, credibility and wider opportunities.
"It also represents a direct investment in the MSME ecosystem, with the Commission foregoing about ₦3 billion in registration fees to achieve this.”
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Source: Getty Images
SMEs in Nigeria get a chance to register
Odii added that formalisation was “the gateway to support,” noting that businesses onboarded into SMEDAN’s database would be positioned for growth and sustainability.
He said:
“By ensuring that these businesses are registered and also captured in our database, we can provide continuous aftercare, whether that’s access to grants, training or new markets."
He also sought to playdown fears of taxation, saying reforms in the new tax framework taking effect in 2026 would raise the exemption threshold for small businesses.
Applications for the scheme are now open on portal.smedan.gov.ng
MEDAN said its state offices nationwide and Business Clinics would provide support for entrepreneurs unable to complete the process online.
MSMEs already in SMEDAN’s database but without CAC registration will automatically qualify for the free registration.
FG to Introduce New Initiative for SMEs
Earlier, Legit.ng reported that the Federal Government has announced a new initiative that will give SMEs across the country easy access to credit facilities.
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The initiative was unveiled by John Enoh, the Minister of State for Industry, Trade, and Investment during the Renewed Hope Global Virtual Conference 2025.
The disbursement of business loans will be carried out in collaboration with the Bank of Industry (BOI) to ensure efficiency.
Source: Legit.ng
