Nigeria offers zero-interest MSME fund, free registration

A new zero-interest loan fund and a major business registration waiver were announced by Nigerian authorities this week as part of a concerted push to support the country's small business sector. The initiatives, unveiled during events marking World MSME Day, aim to address critical financial and regulatory hurdles faced by entrepreneurs.

On Saturday, June 27, President Bola Tinubu approved the free formalization and corporate registration of 250,000 Micro, Small, and Medium Enterprises (MSMEs). The announcement was made at the 8th National MSME Awards 2026 held at the State House in Abuja. The program waives the standard statutory fees for business name registration with the Corporate Affairs Commission (CAC), a move officials said is designed to remove a financial barrier and integrate more enterprises into the formal banking and regulatory ecosystem.

In addition to the fee waiver, the federal intervention package includes business support and specialized technical training for beneficiaries to aid long-term corporate survival. Interested business owners are required to register through the official portal of the Small and Medium Enterprises Development Agency of Nigeria...