250,000 MSMEs to benefit as Tinubu approves free CAC registration

President Bola Ahmed Tinubu has signed off on the free formalization and incorporation of 250,000 Micro, Small and Medium Enterprises (MSMEs) in the 36 states and the Federal Capital Territory of Nigeria.

This was announced over the weekend at the State House, Abuja, during the 8th National MSME Awards 2026.

The program is targeted at breaking down the financial constraints that have prevented nano, micro and small enterprises from entering the Nigerian formal sector and incorporating them in the financial and regulatory frameworks of the country.

As per the presidential directive, the beneficiaries will get their business names registered for free without the payment of the usual fees which would have been charged by the Corporate Affairs Commission (CAC).

Apart from the free registration services, the intervention package also entails training and mentoring for sustainability.

Potential beneficiaries, especially those in the area of small businesses who want to take advantage of the programme, have been encouraged to sign up via the SMEDAN website using #SMEDANGov to fill in all the necessary paperwork and get into the programme.

The programme is set to be carried out in collaboration with the Corporate Affairs Commission (CAC) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN).

Those in charge of the programme have pointed out that this waiver will go a long way in offering financial reprieve to entrepreneurs and should result in a reduction in the high failure rate of small businesses.