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BREAKING: CAC Registers Two Million Enterprises As Federal Government Takes Steps To Combat Unemployment

The Corporate Affairs Commission (CAC) in Abuja has reported the successful registration of two million businesses in recent times.

This development marks a significant stride in addressing unemployment challenges and advancing efforts to generate 50 million jobs for Nigerian youths, according to reports from Naija News.

At a notable gathering held in Abuja, the Registrar-General and CEO of the CAC, Hussaini Ishaq Magaji SAN, underscored that this registration drive aims to alleviate the hurdles faced by young Nigerians aspiring to make meaningful contributions to the country’s economy.

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“The registration of these new businesses is part of the CAC’s contribution to realizing the economic revitalization plan of the current administration, in collaboration with Moniepoint, to foster the growth of the MSMEs sector, aligning with the government’s target of creating 50 million jobs,” he remarked.

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Babatunde Olofin, the Executive Director of Moniepoint, affirmed their dedication to executing the project in line with the current government’s economic revival endeavors. Olofin stressed the significance of prioritizing youth unemployment and ensuring that aspiring entrepreneurs encounter no barriers in their ventures.

By supporting these emerging entrepreneurs, they would also evolve into employers, thus bolstering the labor market’s expansion.

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At the gathering, the Minister of Industry, Trade, and Investment, Dr. Doris Nkiruka Uzoka-Anite, commended the utilization of information technology as a pivotal milestone in stimulating economic growth. She hailed the event as a landmark achievement poised to significantly impact the country’s economic progression.

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