President Tinubu Unveils Free CAC Registration Scheme for 250,000 Small Businesses Nationwide

President Bola Tinubu has approved a nationwide initiative to provide free business registration through the Corporate Affairs Commission (CAC) for 250,000 Micro, Small and Medium Enterprises (MSMEs), in a move aimed at expanding the formal business sector and boosting entrepreneurship across Nigeria.

The President announced the initiative on Saturday during the 8th National MSME Awards held at the Presidential Villa in Abuja. The programme forms part of the Federal Government’s Renewed Hope Agenda to strengthen small businesses, improve access to finance and encourage economic growth.

Beyond waiving CAC registration fees, the initiative is designed to help participating businesses gain legal recognition, making them better positioned to access bank loans, government intervention programmes, grants and new market opportunities. Beneficiaries are also expected to receive technical support and business development training to improve their capacity for long-term growth.

The programme builds on an existing partnership between the Corporate Affairs Commission (CAC) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), which was established to remove the financial barriers that prevent many entrepreneurs from formalising their businesses. Under the collaboration, CAC absorbs the cost of registration while SMEDAN provides post-registration support, including training, mentorship and business advisory services.

Government officials say formalising businesses will not only improve access to funding but also expand tax compliance, create jobs and strengthen Nigeria’s MSME ecosystem. The administration believes the initiative will encourage thousands of informal businesses to transition into the formal economy, increasing their chances of sustainable growth and competitiveness.

The free registration scheme is expected to be implemented nationwide, with eligible entrepreneurs able to register through the designated government channels as details of the rollout are released.