The Corporate Affairs Commission and the Small and Medium Enterprises Development Agency of Nigeria have launched a nationwide drive to provide free business registration for 250,000 nano, micro, and small enterprises.
The initiative was announced in Abuja during the signing of a Memorandum of Understanding between the two agencies. A statement issued by both agencies on Friday noted that the campaign forms part of activities marking the second year in office of CAC Registrar-General Hussaini Magaji and SMEDAN Director-General Charles Odii, who were both appointed in October 2023.
Formalisation has long been a hurdle for many small businesses, with cost, bureaucracy, and lack of awareness keeping millions of entrepreneurs in the informal sector. SMEDAN Director-General Charles Odii added that the initiative aims to reduce the number of illegal businesses and decrease the collapse rate of SMEs in Nigeria.
“Formalisation is the gateway to support. By ensuring these businesses are registered and onboarded into our database, we can provide continuous aftercare, whether that is access to grants, training, or new markets. The first step for any MSME wishing to benefit is to register on our portal at portal.smedan.gov.ng.
CAC is about to review its fees. But irrespective of that review, 250,000 small businesses across the 36 states and the Federal Capital Territory will get free registration,” he added.
How to apply:
1. Visit portal.smedan.gov.ng and complete the registration form.
2. MSMEs already on SMEDAN’s database without CAC registration will automatically qualify for the free registration drive.
3. Once registered with SMEDAN, beneficiaries will be contacted with the next steps for CAC certification.