The Small and Medium Enterprise Development Agency (SMEDAN) has secured presidential approval to register 250,000 businesses for free in collaboration with the Corporate Affairs Commission (CAC).
Dr. Charles Odii, Director General of SMEDAN, announced the initiative on Wednesday in Abuja during an SME stakeholder engagement on the new tax laws. He said:
“SMEDAN has gotten a presidential approval for the registration of 250,000 businesses for free. What MSMEs need to do is just go to SMEDAN website and register their business, and when they are done, SMEDAN will pass it to CAC free of charge.”
Dr. Odii also highlighted the impact of COVID-19 on Nigeria’s SME sector, noting that the country had approximately 41 million SMEs before the pandemic, which fell to 39,224,380 after losing about 3 million.
The initiative is part of a broader effort to improve access to credit for SMEs, including single-digit interest loans and grants. SMEDAN has also signed memoranda of understanding (MoUs) with several state governments, including Katsina, Anambra, and Zamfara, to further support the sector.
Officials say the program will strengthen Nigeria’s SME ecosystem, encourage formal registration, and enhance opportunities for funding and growth.
