The Corporate Affairs Commission (CAC) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) are set to inject N6 billion into the economy through free registration of youth-led businesses.
The initiative, launched recently, targets 250,000 young entrepreneurs across the country. It aims to formalise small enterprises, create jobs, and expand youth participation in national economic growth.
Registrar-General of CAC, Hussaini Ishaq Magaji, SAN, disclosed this in Kaduna while receiving members of the Association of Northern Nigerian Students. He said the registration drive would strengthen youth entrepreneurship and reduce unemployment.
According to Magaji, the Federal Government’s free business name registration is a strategic effort to help young Nigerians gain access to funding, contracts, and business support opportunities. He described the N6 billion investment as both an empowerment tool and a formalisation strategy for small enterprises.
“The CAC is injecting six billion naira into the economy and creating 250,000 jobs for Nigerian youths through this registration initiative,” Magaji said.
He urged students and young entrepreneurs to take advantage of the programme, a partnership between CAC and SMEDAN, designed to support Micro, Small, and Medium Enterprises (MSMEs).
The CAC is also addressing delays in its registration services with an Artificial Intelligence (AI) system capable of processing applications faster. Magaji said the AI tool would handle compliance and customer service requests, improving response time and accuracy.
He added that the portal now processes over 11,000 transactions daily, despite initial service disruptions from high demand. The AI system will further ensure efficiency across all registration and inquiry processes.
