President Bola Tinubu has approved the free corporate registration of 250,000 Micro, Small and Medium Enterprises (MSMEs) as part of efforts to promote business formalisation and support the growth of small businesses across Nigeria.

The approval was announced during the 8th National MSME Awards, underscoring the Federal Government’s commitment to creating an enabling environment for entrepreneurs and expanding access to opportunities available to registered businesses.

Under the initiative, eligible entrepreneurs are required to apply through the official Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) portal.

Businesses already captured in the SMEDAN database but yet to obtain registration with the Corporate Affairs Commission (CAC) will automatically qualify for the registration waiver, according to the programme guidelines.

The initiative is expected to ease the cost of business registration for thousands of entrepreneurs, encourage more informal businesses to formalise their operations, and improve access to government support programmes, financing opportunities, and other business development services.

The Federal Government has consistently identified MSMEs as critical drivers of economic growth, employment generation, and innovation, with the latest intervention aimed at strengthening the sector’s contribution to Nigeria’s economy.

Entrepreneurs seeking to benefit from the programme have been advised to submit their applications through the official SMEDAN portal.