President Bola Tinubu has approved the free formalisation and corporate registration of 250,000 Micro, Small, and Medium Enterprises (MSMEs) across the country.

Presidency which confirmed the development, Saturday, at the State House in Abuja during the 8th National MSME Awards 2026, explained that the move is aimed at removing financial difficulty for nano, micro, and small scale entrepreneurs, effectively integrating them into Nigeria’s formal banking and regulatory ecosystem.

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The Presidency further disclosed that the beneficiaries will receive full business name registrations without paying the standard statutory fees to the Corporate Affairs Commission CAC).

It stated that apart from the waiver of registration costs, the federal intervention package comprises ‘moral support for business owners’ alongside specialized ‘technical training for beneficiaries’ to ensure long-term corporate survival.

The Presidency disclosed that to access this federal government intervention, interested small business owners are required to log onto the official SMEDAN portal using the designation (#SMEDANGov) to complete their documentation and secure their onboarding slots.

“The implementation of this policy is driven through a strategic partnership involving the CAC and the Small and Medium Enterprises Development Agency of Nigeria, SMEDAN.

“Top officials within the regulatory agencies noted that the waiver represents a significant financial concession aimed entirely at driving down the high mortality rate of small businesses nationwide,” the Presidency said.