The Corporate Affairs Commission (CAC) in Abuja has announced the registration of two million businesses as part of initiatives aimed at addressing the escalating unemployment rate and achieving the target of creating 50 million jobs for Nigerian youths.
During a ground-breaking ceremony in Abuja, the Registrar-General and CEO of the CAC, Hussaini Ishaq Magaji SAN, underscored the significance of this registration in simplifying the process for young Nigerians seeking to contribute meaningfully to the economy.
Magaji emphasized that registering new businesses aligns with the current administration’s economic revival plan and its focus on developing the Micro, Small, and Medium Enterprises (MSMEs) sector. He reiterated the government’s commitment to youth employment and highlighted the importance of facilitating entrepreneurship to foster job creation.
Babatunde Olofin, Executive Director of Moniepoint, expressed the company’s readiness to support the government’s economic revival agenda. He emphasized the role of meaningful youth engagement in reducing crime and other societal challenges.
In her remarks, Dr. Doris Nkiruka Uzoka-Anite, the Minister of Industry, Trade, and Investment, hailed the event as a landmark achievement facilitated by using information technology to drive economic growth.
Registering two million businesses marks a significant milestone in the government’s efforts to empower entrepreneurs and address unemployment, paving the way for sustained economic development and prosperity.
