President Bola Tinubu has approved the free formalisation and registration of 250,000 Micro, Small and Medium Enterprises (MSMEs) across Nigeria in a major push to support small businesses and bring more entrepreneurs into the formal economy.
The approval was announced on Saturday at the State House in Abuja during the 8th National MSME Awards 2026.
According to the Presidency, the initiative is designed to ease the financial burden on nano, micro and small-scale business owners while helping them gain access to Nigeria’s formal banking and regulatory systems.
Under the programme, selected beneficiaries will receive full business name registration through the Corporate Affairs Commission (CAC) at no cost, with the Federal Government waiving the statutory registration fees usually attached to the process.
Beyond the free registration, the intervention package will also provide moral support for business owners as well as specialised technical training aimed at improving sustainability and boosting the long-term survival of participating businesses.
The Presidency explained that interested entrepreneurs seeking to benefit from the programme are expected to register through the official SMEDAN portal using the designation #SMEDANGov to complete the necessary documentation and secure onboarding slots.
“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 stated.
