The Small and Medium Enterpeises Development Agency, SMEDAN, says it is speeding up efforts to formalise informal businesses through a Federal Government-backed programme offering free CAC registration.
Speaking at the 2026 Top Management Retreat of the Federal Ministry of Industry, Trade and Investment in Abuja, SMEDAN Director-General Charles Odii urged entrepreneurs to register their businesses at no cost.
- READ ALSO: SMEDAN Unveils 2026 Roadmap for MSME Growth
Odii said the programme, approved by President Bola Tinubu, was initially designed to formalise 250,000 businesses and has made significant progress.
He said formalisation supports Nigeria’s Industrial Policy and enables businesses to access government support, financing and growth opportunities.
Odii added that SMEDAN is providing advisory services, capacity building and access to finance, including N12 billion in interest-free loans for small businesses.
