In a major push to strengthen the growth of Micro, Small and Medium Enterprises (MSMEs) across the country, the Federal Government of Nigeria has announced the waiver of business registration fees amounting to ₦3 billion, offering free registration for 250,000 small businesses nationwide. This landmark initiative was made public on Thursday, September 26, 2025, during a formal signing event held in Abuja between the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) and the Corporate Affairs Commission (CAC).
This strategic partnership, forged under the administration’s “Renewed Hope Agenda,” is aimed at fostering inclusiveness and easing the regulatory burdens that hinder many informal businesses from transitioning into the formal economy. According to government representatives present at the event, the free registration scheme is expected to empower entrepreneurs, stimulate grassroots economic activities, and improve Nigeria’s ease of doing business index globally.
Speaking at the event, SMEDAN’s Director-General reaffirmed the agency’s commitment to empowering the small business ecosystem, adding that the initiative will particularly benefit underserved communities and youth-led enterprises who often lack the financial capacity to meet formal registration requirements.
“This waiver is not just a financial relief but a bold step toward formalising the informal sector, which constitutes over 60% of Nigeria’s business landscape,” he said.
Also in attendance was the Registrar-General of the CAC, who described the waiver as a proactive measure to bridge the gap between government policy and private sector participation. He emphasized that registration with the CAC provides small business owners with access to legal recognition, access to funding, participation in government contracts, and expansion opportunities both locally and internationally.
With this development, entrepreneurs can now register their businesses without bearing the usual costs, which would have collectively reached an estimated ₦3 billion. This relief, according to officials, is fully funded by the Federal Government and is in line with its broader economic recovery and poverty alleviation plans.
Interested small business owners are expected to apply through official government channels, with SMEDAN and the CAC providing guidelines and support to ensure a smooth and transparent registration process.
This move comes at a time when the nation’s economy is battling inflation, unemployment, and sluggish private sector growth. By enabling more MSMEs to operate formally, the government hopes to expand its tax net, boost productivity, and encourage local innovation.
This development, shared through verified government handles including @statehouse.digital and @theasovilla, signals renewed government interest in not just stimulating but sustaining entrepreneurship in Nigeria.
