Tinubu approves free CAC registration for 250,000 MSMEs nationwide

President Bola Tinubu has approved the free formalisation and registration of 250,000 Micro, Small and Medium Enterprises (MSMEs) across Nigeria as part of efforts to promote small businesses and deepen financial inclusion.

The initiative was announced on Saturday at the State House in Abuja during the 8th National MSME Awards 2026.

According to the Presidency, the programme is designed to eliminate the financial barriers associated with business registration, enabling nano, micro and small-scale enterprises to become part of Nigeria’s formal banking and regulatory system.

Under the initiative, beneficiaries will receive business name registration through the Corporate Affairs Commission (CAC) at no cost, with the Federal Government covering the statutory registration fees.

Beyond the registration fee waiver, the intervention package also includes technical training and business support services aimed at strengthening the capacity of beneficiaries and improving the long-term sustainability of their businesses.

The Presidency said interested entrepreneurs can apply for the programme by visiting the official Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) portal, using the designated #SMEDANGov platform to complete the registration process and secure onboarding.

It added that the initiative is being implemented through a strategic partnership between the Corporate Affairs Commission (CAC) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN).

According to the Presidency, officials of both agencies described the registration waiver as a significant financial concession intended to reduce the high mortality rate among small businesses and encourage more entrepreneurs to operate within the formal economy.

The initiative forms part of the Tinubu administration’s broader strategy to support MSMEs, enhance access to finance, and stimulate economic growth through enterprise development.