Tinubu Approves Free CAC Registration for 250,000 MSMEs

President Bola Tinubu has approved the free corporate registration of 250,000 Micro, Small, and Medium Enterprises (MSMEs) across Nigeria as part of efforts to support small businesses and promote economic growth.

The approval was announced during the 8th National MSME Awards, where the Federal Government reaffirmed its commitment to reducing barriers to business formalization and encouraging entrepreneurship.

Under the initiative, eligible entrepreneurs are required to apply through the official Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) portal at portal.smedan.gov.ng.

In addition, businesses that have already been onboarded onto the SMEDAN database but do not have a Corporate Affairs Commission (CAC) registration will automatically qualify for the registration waiver.

The initiative is expected to ease the cost of formal business registration, expand access to government support programmes, and enable more small businesses to operate within the formal sector of the economy.