In a significant boost for small businesses, the Federal Government has officially commenced the free registration of 250,000 Micro, Small, and Medium Enterprises (MSMEs) across Nigeria.
The initiative, a key part of President Bola Ahmed Tinubu's Renewed Hope Agenda, was formalized on Tuesday with 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).
The Registrar-General/CEO of the CAC, Hussaini Ishaq Magaji, SAN, announced that the Commission will waive all statutory fees for the business name registration of 250,000 micro and small enterprises. He pledged a streamlined process designed to deliver registration certificates to beneficiaries without unnecessary delays.
"To ensure transparency and measurable impact, both organisations will jointly promote awareness, monitor progress, and share data responsibly," Magaji stated.
Outlining the collaborative roles, the CAC boss revealed that while his commission handles the free registration, SMEDAN will be responsible for mobilising, preparing, and profiling eligible businesses. SMEDAN will also provide these businesses with unique identification numbers to integrate them into broader support systems.
In his remarks, the Director-General/CEO of SMEDAN, Charles Odii, hailed the initiative as a landmark achievement for the Tinubu administration. He emphasized the critical role MSMEs play in driving Nigeria's economic growth and Gross Domestic Product (GDP).
Odii also highlighted several other empowerment schemes for small businesses already underway under the Renewed Hope Initiative, positioning this registration drive as a foundational step for further support.
The high point of the event was the formal signing of the MoU, which commits both agencies to a smooth and effective implementation of the project, offering a renewed hope of formalization and growth for a quarter of a million small businesses in Nigeria.
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