FG registers 2million businesses to tackle unemployment

The Corporate Affairs Commission (CAC) in Abuja unveiled the registration of two million businesses as part of efforts to curb rising unemployment and achieve the 50 million job creation target for Nigerian youths.

The Registrar-General and CEO of the CAC, Hussaini Ishaq Magaji SAN, at a groundbreaking ceremony in Abuja, said the registration was part of efforts to simplify the burden for young Nigerians who want to contribute meaningfully to the Nigerian 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.

He said the president has youth employment as priority and the first step is to ensure that those willing to engage in different ventures donot encounter hurdles because when they start their enterprises, they will also be employers of labour.

Moniepoint Executive DirectorBabatunde Olofin stated their readiness to actualize the project in line with the present administration’s economic revival agenda, adding that the financial services provider has recognized that crimes and other vices can only be reduced if youths are meaningfully engaged.

In her brief remarks, the Minister of Industry, Trade, and Investment, Dr. Doris Nkiruka Uzoka-Anite, described the event as a landmark achievement through the use of information technology to catalyse the economy.