The Presidency has announced that President Bola Tinubu has approved the free formalisation and corporate registration of 250,000 Micro, Small and Medium Enterprises (MSMEs) across Nigeria as part of efforts to support small businesses and deepen financial inclusion.
The announcement was made during the 8th National MSME Awards 2026 held at the State House in Abuja
According to the Presidency, the initiative is aimed at eliminating the cost of business registration for nano, micro and small enterprises, enabling more entrepreneurs to join Nigeria’s formal business, banking and regulatory system.
Under the programme, successful applicants will receive free business name registration through the Corporate Affairs Commission (CAC), with the Federal Government covering the statutory registration fees.
The intervention also includes technical training and business development support to help beneficiaries build sustainable enterprises, improve business survival rates and promote long-term growth.
Interested business owners must apply through the official portal of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) and complete the required registration.
The Presidency said the initiative is being implemented through a partnership between the Corporate Affairs Commission (CAC) and SMEDAN to encourage the formalisation of small businesses across the country
Officials involved in the programme described the registration fee waiver as a significant relief for entrepreneurs, noting that it would reduce barriers to business registration, curb the high rate of business failure, and expand access to financing, government interventions, and other opportunities within Nigeria’s formal economy.
(The Whistler)