The Corporate Affairs Commission (CAC) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) have announced plans to inject ₦6 billion into the Nigerian economy through the free registration of youth-owned businesses.
The initiative, launched a few weeks ago, targets the registration of 250,000 youth-led enterprises across the country. It is expected to create thousands of jobs, support young entrepreneurs, and help formalize small businesses operating in the informal sector.
Speaking during a meeting with members of the Association of Northern Nigerian Students (ANNS) in Kaduna, the Registrar-General of the CAC, Hussaini Ishaq Magaji, SAN, emphasized the programme’s potential to drive economic inclusion and innovation among young Nigerians. His remarks were contained in a statement shared on the Commission’s official X (formerly Twitter) account.
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Magaji explained that the initiative focuses on youths engaged in content creation, small-scale enterprises, and other emerging industries, enabling them to contribute more meaningfully to national growth.
He urged Nigerian youths to take advantage of the Federal Government’s offer to register 250,000 business names at no cost, describing it as a strategic investment aimed at injecting ₦6 billion into the economy and fostering job creation.
The Registrar-General also encouraged student associations and youth groups to mobilize their members to benefit from the programme, jointly implemented by CAC and SMEDAN, to strengthen micro, small, and medium enterprises (MSMEs) and tackle youth unemployment.
The business registration drive forms part of the Federal Government’s ongoing efforts to promote youth entrepreneurship, enhance financial inclusion, and transition informal businesses into the formal sector of the economy.
