- Nigerian government to register 250,000 MSMEs for free to boost formalisation and financial inclusion
- Beneficiaries will receive business training and development support for sustainable enterprise growth
- Programme aims to enhance job creation and strengthen Nigeria’s MSME sector for long-term economic growth
Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
The Federal Government has approved the free registration of 250,000 Micro, Small and Medium Enterprises (MSMEs) with the Corporate Affairs Commission (CAC), in a major push to formalise businesses, deepen financial inclusion and strengthen Nigeria’s entrepreneurial ecosystem.
President Bola Tinubu announced the initiative during the 8th National MSME Awards 2026 held at the State House in Abuja, describing it as part of his administration’s commitment to supporting small businesses and creating an enabling environment for economic growth.
Credit: CAC
Source: Twitter
Free CAC registration for selected businesses
Under the programme, 250,000 eligible nano, micro and small businesses will receive business name registration through the Corporate Affairs Commission at no cost.
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PM News reported that the Federal Government will bear all statutory registration fees, removing one of the biggest financial barriers that prevent many entrepreneurs from formalising their businesses.
The Presidency said the initiative is expected to encourage more small business owners to operate within the formal economy, giving them access to banking services, government support programmes, investment opportunities and other business benefits that are often unavailable to unregistered enterprises.
More than registration
Beyond the free registration exercise, beneficiaries will also receive technical training and business development support aimed at helping them build stronger and more sustainable enterprises.
Officials said the programme is designed not only to increase the number of registered businesses in Nigeria but also to improve their long-term survival rate by equipping entrepreneurs with practical skills needed to grow and compete.
The intervention forms part of broader efforts by the Federal Government to boost job creation, enhance productivity and expand opportunities for small businesses across the country, according to a report by MSME Africa.
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How interested business owners can apply
The Presidency disclosed that entrepreneurs interested in benefiting from the programme are required to register through the official SMEDAN portal by submitting the necessary information and documentation.
The initiative is being implemented through a partnership between the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) and the Corporate Affairs Commission (CAC), with both agencies expected to fast-track the registration process for successful applicants.
Government officials described the fee waiver as a significant financial relief for small businesses, noting that reducing the cost of formal registration will encourage more entrepreneurs to legitimise their operations, improve access to finance and position their businesses for long-term growth.
Credit: Novatis
Source: Getty Images
The programme is expected to benefit thousands of entrepreneurs nationwide while strengthening Nigeria’s MSME sector, widely regarded as the backbone of the country’s economy.
Everything you need to budget for CAC registration
Legit.ng earlier reported that CAC registration fees in Nigeria range between ₦1,000 and ₦40,000 for elements related to name reservation, reservation of restricted words, and the registration, incorporation, and CTC of documents.
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These costs vary based on company type, authorised share capital, and whether you choose to use an accreditation agent or file yourself.
Registering your business in Nigeria with the CAC gives you full legal recognition under Nigerian law.
Source: Legit.ng