Get Guardian on GoogleThe Corporate Affairs Commission (CAC) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) have announced a joint initiative to register 250,000 Micro, Small, and Medium Enterprises (MSMEs) free of charge across the country, with CAC foregoing about ₦3 billion in registration fees.
The initiative, announced during the signing of a Memorandum of Understanding (MoU) in Abuja on Friday, seeks to remove barriers such as high costs and bureaucratic challenges that have long kept many small businesses in the informal sector.
CAC Registrar-General Hussaini Ishaq Magaji, SAN, explained that the scheme will eliminate the registration fee, helping entrepreneurs access official recognition and grow their businesses.
SMEDAN Director-General, Dr. Charles Odii, added that registration is just the first step, noting that registered businesses will benefit from continuous aftercare such as grants, training, and market access.
Together, the two agencies noted that CAC will forgo approximately ₦3 billion in registration fees, while SMEDAN will provide continuous support to help these businesses thrive.
They added that this partnership supports the Federal Government’s Renewed Hope vision to boost Nigeria’s economy by empowering entrepreneurs.
How to Register
1. Visit the SMEDAN portal: http://portal.smedan.gov.ng
2. Sign up and complete your registration on the portal.
3. When asked if you have a CAC number, select “No”.
4. Submit your details to complete the process.
5. Once registration is completed, you will be contacted with the next steps to finalise your free CAC registration.
Note: MSMEs already on SMEDAN’s database without CAC registration automatically qualify for this free registration drive.
