President Bola Tinubu has approved the free formalization and corporate registration of 250,000 Micro, Small, and Medium Enterprises (MSMEs) across Nigeria in a move aimed at supporting small businesses and expanding financial inclusion.
The announcement was made on Saturday during the 8th National MSME Awards 2026 at the State House in Abuja.
According to the Presidency, the initiative is designed to remove the financial burden associated with business registration for nano, micro, and small enterprises, allowing more entrepreneurs to become part of Nigeria’s formal business, banking, and regulatory system.
Under the programme, selected 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 free registration, the intervention also includes technical training to help entrepreneurs build sustainable businesses, as well as business support designed to improve the long-term survival and growth of registered enterprises.
To participate, interested business owners are expected to register through the official SMEDAN portal by completing the required documentation to secure a place in the programme.
The Presidency explained that the initiative is being implemented through a partnership between the Corporate Affairs Commission (CAC) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN).
Officials involved in the program described the fee waiver as a major financial relief for small businesses, noting that it is intended to reduce the high rate of business failure while encouraging more entrepreneurs to formalize their operations and access the opportunities available within Nigeria’s formal economy
