In an attempt to break down barriers for entrepreneurs across Nigeria, the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has officially partnered with the Corporate Affairs Commission (CAC) to provide free business registration for 250,000 Micro, Small, and Medium Enterprises (MSMEs).
The Memorandum of Understanding (MoU) sealing this partnership was signed yesterday at the CAC Head Office in Abuja. The event was attended by members of the press, representatives of SMEDAN and CAC, and the heads of both agencies: Registrar-General of CAC, Hussaini Ishaq Magaji, and Director-General of SMEDAN, Charles Odii.
This initiative is designed to remove one of the major barriers faced by entrepreneurs — the cost of registration. Typically, registering a business with CAC costs around ₦11,000, but through this partnership, 250,000 businesses nationwide will now be able to access registration completely free of charge.
Speaking at the event, both agencies emphasized that this effort is part of President Bola Ahmed Tinubu’s Renewed Hope Agenda, which is focused on breaking down barriers for entrepreneurs, encouraging innovation, and supporting job creation across the country.
For MSMEs, this new development represents more than just free registration. It is a pathway to formalization, improved credibility, access to government interventions, and opportunities to scale in both local and international markets.
SMEDAN remains committed to creating an enabling environment where small businesses can progress, and this collaboration with CAC marks another significant step towards achieving that goal.