President Bola Tinubu has formally approved the free formalization and corporate registration of 250,000 Micro, Small, and Medium Enterprises, MSMEs, across the country.
This was announced on Saturday at the State House in Abuja during the 8th National MSME Awards 2026.
According to the presidency, the move is aimed at removing financial difficulty for nano, micro, and small scale entrepreneurs, effectively integrating them into Nigeria’s formal banking and regulatory ecosystem.
The presidency added that the beneficiaries will receive full business name registrations without paying the standard statutory fees to the Corporate Affairs Commission, CAC.
It further revealed that apart from the waiver of registration costs, the federal intervention package comprises ‘moral support for business owners’ alongside specialized ‘technical training for beneficiaries’ to ensure long-term corporate survival.
The presidency disclosed that to access this federal government intervention, interested small business owners are required to log onto the official SMEDAN portal using the designation (#SMEDANGov) to complete their documentation and secure their onboarding slots.
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👉 JOIN GISTSMATE WHATSAPP CHANNEL“The implementation of this policy is driven through a strategic partnership involving the CAC and the Small and Medium Enterprises Development Agency of Nigeria, SMEDAN.
“Top officials within the regulatory agencies noted that the waiver represents a significant financial concession aimed entirely at driving down the high mortality rate of small businesses nationwide,” the presidency said.
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