By Boluwatife Oshadiya, Entrepreneurship & SME Correspondent | July 14, 2026
Key Points
- Federal Government begins free CAC registration for 250,000 nano, micro and small businesses
- Successful applicants will receive Business Name registration at no cost through the SMEDAN-CAC formalisation programme
- Beneficiaries will also access business support services, training and growth opportunities
Main Story
The Federal Government has opened applications for the free registration of 250,000 Micro, Small and Medium Enterprises (MSMEs) under a formalisation programme being implemented by the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) in partnership with the Corporate Affairs Commission (CAC).
The initiative, approved by President Bola Tinubu, is designed to eliminate the financial barrier associated with business registration, allowing more nano, micro and small enterprises to join Nigeria’s formal economy. Under the programme, the Federal Government will fully cover the statutory cost of Business Name registration for successful applicants.
The scheme was unveiled during the 8th National MSME Awards held at the State House, Abuja, on June 27, where the Presidency said the programme would strengthen financial inclusion and improve access to government support for small businesses.
Interested business owners are required to register on the SMEDAN portal, create an account, complete their MSME profile, indicate that their business has not yet been registered with the CAC, and submit their application for consideration.
Businesses already captured in the SMEDAN database but without CAC registration may also qualify automatically for the initiative. Successful applicants will be contacted with further instructions for completing their free Business Name registration.
The programme follows a Memorandum of Understanding signed between SMEDAN and the CAC to formalise 250,000 businesses nationwide. Beyond registration, beneficiaries will receive technical training, business development support and access to programmes aimed at improving business sustainability and long-term growth.
What’s Being Said
“The initiative is aimed at removing financial barriers facing nano, micro and small enterprises while integrating more businesses into Nigeria’s formal banking and regulatory ecosystem,” the Presidency said during the launch of the programme.
SMEDAN has also encouraged entrepreneurs operating informal businesses to take advantage of the opportunity, noting that formal registration improves access to financing, government intervention programmes, contracts and investment opportunities.
What’s Next
- Applications remain open through the SMEDAN registration portal for eligible businesses.
- Successful applicants will be notified by SMEDAN before proceeding with their free CAC Business Name registration.
- Government agencies are expected to commence business support, capacity-building and formalisation activities for successful beneficiaries after registration.
The Bottom Line: The programme represents one of the Federal Government’s largest business formalisation initiatives in recent years. If successfully implemented, it could significantly expand the number of formally registered MSMEs, improve access to finance and broaden Nigeria’s tax and regulatory base without imposing registration costs on small business owners.
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