EXPLAINER: How to Apply for FG’s Free CAC Registration of 250,000 MSMEs
The Federal Government has commenced applications for the free registration of 250,000 Micro, Small and Medium Enterprises (MSMEs) under the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN)-Corporate Affairs Commission (CAC) Formalisation Programme.
The initiative, approved by President Bola Tinubu, is aimed at eliminating the cost of business registration for eligible nano, micro and small enterprises, thereby encouraging more businesses to join Nigeria’s formal economy.
Under the programme, successful applicants will receive free Business Name registration through the Corporate Affairs Commission, with the Federal Government bearing the statutory registration fees.
The initiative was unveiled by the Presidency during the 8th National MSME Awards held at the State House, Abuja, on June 27.
In addition to free business registration, beneficiaries will receive technical training, business development support and access to opportunities designed to enhance business sustainability, productivity and growth.
Application Process
Interested business owners are required to:
1. Visit the SMEDAN registration portal.
portal.smedan.gov.ng
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2. Create an account using their name, email address, phone number and password.
3. Complete the MSME registration form with accurate business information.
4. Select “No” when asked whether the business already has a CAC registration number.
5. Review the submitted information and complete the application.
6. Await confirmation from SMEDAN if their application is successful.
The government noted that businesses already registered on the SMEDAN database but without CAC registration may automatically qualify for the programme.
Successful applicants will subsequently be contacted with details of the next stage of the free CAC Business Name registration process.
The programme follows the signing of a Memorandum of Understanding (MoU) between the Corporate Affairs Commission and SMEDAN to formalise 250,000 nano, micro and small enterprises nationwide.
According to the Presidency, the initiative is intended to reduce the financial burden of business formalisation, promote financial inclusion and integrate more entrepreneurs into Nigeria’s formal banking and regulatory ecosystem.
The government expressed optimism that the programme would improve access to finance, enhance business credibility and support the growth of small businesses, which remain critical to job creation and economic development.
By PRNigeria
