President Bola Ahmed Tinubu has officially approved the free formalization and corporate registration of 250,000 Micro, Small, and Medium Enterprises (MSMEs) across the thirty-six states of the federation and the Federal Capital Territory.
The major announcement was made public on Saturday at the State House in Abuja during the prestigious 8th National MSME Awards 2026.
This extensive intervention is targeted at removing financial bottlenecks for nano, micro, and small scale entrepreneurs, effectively integrating them into Nigeria’s formal banking and regulatory ecosystem.
Under this newly approved presidential directive, the beneficiaries will receive full business name registrations without paying the standard statutory fees to the Corporate Affairs Commission (CAC).
Beyond the waiver of registration costs, the federal intervention package encapsulates “moral support for business owners” alongside specialized “technical training for beneficiaries” to ensure long-term corporate survival.
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.
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.
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More details to follow…
