New Telegraph

February 28, 2024

CAC targets creation of 50m jobs from 2 million businesses

The Corporate Affairs Commission (CAC) has registered two million businesses with the potential of creating targeted 50 million jobs. Its Corporate Affairs Head, Hussaini Ishaq Magaji, confirmed the figure over the weekend at a meeting with the Minister of Industry, Trade and Investment, the Moniepoint Executive Director, Babatunde Olofin, in Abuja. Magaji said Moniepoint box containing the proposed two million new businesses would soon be formalised.

“The registration of the new businesses was part of CAC’s contribution to the realisation of the present administration’s economic revival plan. I am delighted with the partnership with moniepoint to develop the MSMEs sector, which will undertake the project at proposed discount rates to ensure Nigeria’s economic development,” he said. Speaking, Olofin stated their readiness to actualise the project in line with the present administration’s economic revival agenda. On her part, Uzoka-Anite described the event as a landmark achievement through the use of information technology to catalyse the economy, stating that job creation to revolutionise the economy was part of President Bola Ahmed Tinubu’s eightpoint agenda aimed at financial inclusion, poverty alleviation, and economic empowerment. She said the government was ready to grant the needed intervention for the project, which is the first of its kind in the country’s history, in order to create jobs and provide an enabling environment for businesses to thrive.

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