The Federal Government has opened applications for the free registration of 250,000 Micro, Small and Medium Enterprises under the SMEDAN-Corporate Affairs Commission formalisation programme.

The initiative, approved by President Bola Tinubu, is aimed at removing the financial burden of business registration and helping eligible nano, micro and small businesses join Nigeria’s formal economy.

Under the scheme, successful applicants will receive free Business Name registration through the Corporate Affairs Commission, with the government covering the statutory registration fees.

The programme was announced during the 8th National MSME Awards held at the State House, Abuja, on June 27.

Apart from free registration, beneficiaries will also receive technical training, business development support and access to opportunities designed to improve business growth and sustainability.

To apply, business owners are required to visit the official SMEDAN portal at portal.smedan.gov.ng, create an account with their personal details and complete the MSME registration form with accurate business information.

Applicants must select “No” when asked if their business already has a CAC registration number, review their details and submit the application.

Businesses already registered on the SMEDAN database but without CAC registration may automatically qualify for the programme.

The initiative follows a Memorandum of Understanding between SMEDAN and the CAC to formalise 250,000 nano, micro and small enterprises nationwide.

According to the Presidency, the programme is part of efforts to reduce barriers for small businesses and integrate more entrepreneurs into Nigeria’s formal banking and regulatory systems.