President Bola Ahmed Tinubu has approved the free formalisation of 250,000 Micro, Small and Medium Enterprises (MSMEs) across Nigeria as part of efforts to support entrepreneurship, promote business growth, and strengthen the nation’s economy.

Under the initiative, selected beneficiaries will receive free registration with the Corporate Affairs Commission (CAC), enabling them to operate as formally recognised businesses.

The programme will also provide business owners with technical training and mentorship support aimed at improving operational capacity, competitiveness, and sustainability.

According to the government, the initiative is designed to reduce barriers to business formalisation, expand access to opportunities, and encourage more entrepreneurs to participate in the formal economy.

Interested MSMEs have been advised to apply through the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) platform.

The programme forms part of the Tinubu administration’s broader strategy to empower small businesses, stimulate job creation, and drive inclusive economic growth under the Renewed Hope Agenda.