Nigeria Offers 250,000 Free Business Name Registrations to Entrepreneurs

The Federal Government of Nigeria has launched an initiative to provide 250,000 free business name registrations for entrepreneurs across the country. This program is part of a broader effort to bolster the growth and development of Micro, Small and Medium Enterprises (MSMEs) by alleviating the financial burden of formalizing their businesses.

President Bola Ahmed Tinubu's administration approved the initiative, which is designed to encourage more entrepreneurs to register their businesses and operate within the formal economy. The program aims to streamline the process and reduce the costs associated with business registration.

Eligible entrepreneurs are instructed to apply through the official SMEDAN portal at portal.smedan.gov.ng. The Corporate Affairs Commission (CAC) will handle the registration process without charging any fees to the applicants. The government has also issued a warning to entrepreneurs, urging them to be vigilant against fraudsters who might try to exploit this initiative.

Applicants are strongly advised not to pay any individuals claiming they can expedite or guarantee their registration, as the service is officially free. To ensure they benefit from the program and avoid scams, entrepreneurs should exclusively use the official SMEDAN portal and refrain from sharing payment or personal details with unauthorized agents.