The Corporate Affairs Commission (CAC) in Abuja has announced the successful registration of two million businesses recently.
The development marks a significant step towards addressing the issue of unemployment and working towards the goal of creating 50 million jobs for Nigerian youths.
During a momentous event held in Abuja, the Registrar-General and CEO of the CAC, Hussaini Ishaq Magaji SAN, emphasized that this registration initiative aims to alleviate the challenges faced by young Nigerians who aspire to make a meaningful impact on the country’s economy.
“The registration of the new business was part of the CAC’s contribution to the realisation of the present administration’s economic revival plan in collaboration with Moniepoint to develop the MSMEs sector, in line with the current administration target of 50 million jobs,” he said.
The Executive Director of Moniepoint, Babatunde Olofin, expressed their commitment to implementing the project in alignment with the current government’s efforts to revive the economy.
Olofin emphasized the importance of addressing youth unemployment as a priority and ensuring that aspiring entrepreneurs face no obstacles in their ventures.
By supporting these young entrepreneurs, they will also become employers, contributing to the growth of the labour market.
During the event, the Minister of Industry, Trade, and Investment, Dr Doris Nkiruka Uzoka-Anite, hailed the use of information technology as a significant milestone in stimulating the economy. She recognized the event as an achievement that will have a profound impact on the country’s economic development.