Tinubu Approves Free CAC Registration for 250,000 MSMEs

On Saturday, President Bola Ahmed Tinubu approved a significant initiative to provide free registration for 250,000 micro, small, and medium enterprises (MSMEs) across Nigeria. This announcement was made public during the prestigious 8th National MSME Award held in Abuja.

The initiative aims to remove financial bottlenecks faced by nano, micro, and small-scale entrepreneurs and to integrate them into Nigeria's formal banking regulatory ecosystem. The beneficiaries will receive full business name registration without paying the standard statutory fees to the Corporate Affairs Commission (CAC).

This waiver represents a significant financial concession aimed at reducing the high mortality rate of small businesses nationwide. The initiative is part of a broader federal intervention package that includes moral support for business owners and special technical training to ensure long-term corporate survival.

Business owners are required to log onto the official SMEDAN portal to complete the necessary documentation for registration.