By Jennifer Inah, Abuja
The Nigerian Government has unveiled an initiative to provide free business name registration for 250,000 micro and small enterprises across the country.
The programme follows the signing of a Memorandum of Understanding (MoU) between the Corporate Affairs Commission (CAC) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) in Abuja.
Speaking at the event, the Director-General of SMEDAN, Charles Odii, announced that the scheme would be implemented nationwide, with SMEDAN mobilising and profiling eligible businesses, while the CAC oversees the registration and issuance of certificates.
According to him, “Both agencies will also conduct joint awareness campaigns and maintain a monitoring framework to ensure transparency and measurable impact.”
“Many small businesses shy away from registration out of fear of taxation. But with this initiative, they are not only registered at zero cost, they also enjoy tax exemptions and access to government-backed funding opportunities,” he noted.
Mr Odii explained that to access the free registration, small business owners are expected to register through SMEDAN’s online portal, www.smedan.gov.ng, where their information will be collated and shared with the CAC weekly for processing and issuance of certificates.
Registrar-General of the CAC, Mr Hussaini Magaji, described the collaboration as a significant milestone in the government’s efforts to formalise businesses, expand the tax base, and enhance access to finance and markets.
“This initiative will give 250,000 Nigerian entrepreneurs legal identities, improve their chances of accessing funding, and reduce the risks of informality that often hinder the growth of small businesses,” he said.
“By formalising an additional 250,000 enterprises under this initiative, we are helping to create jobs, foster innovation, and build a more inclusive economy,” he added.
Mr Magaji called on business owners to take advantage of the free registration to formalise their businesses and access opportunities.