President Bola Ahmed Tinubu has approved the free formalisation and Corporate Affairs Commission (CAC) registration of 250,000 Micro, Small and Medium Enterprises (MSMEs) across Nigeria as part of efforts to support small businesses and expand the formal economy. The announcement was made during the 8th National MSME Awards 2026 at the Presidential Villa in Abuja. Under the initiative, beneficiaries will register their businesses with the Corporate Affairs Commission (CAC) at no cost. The programme will be implemented through a partnership between the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) and the CAC.
In addition to the free registration, the Federal Government said participating MSMEs will receive technical training, business support, and mentorship to help improve their operations, increase access to finance, and boost long-term sustainability.
According to the Presidency, the initiative is designed to remove barriers that discourage small businesses from registering formally, making it easier for them to access banking services, government interventions, grants, and other business opportunities
Post a Comment