FG set to create 50m jobs as CAC registers 2m businesses

The Federal Government said yesterday it was targeting 50million jobs for Nigerian youths.

The government’s promise is coming against the backdrop of registration of two million businesses by the Corporate Affairs Commission, CAC.

The Registrar-General and CEO of the CAC, Hussaini Ishaq Magaji, SAN, disclosed this at a ground-breaking ceremony of Moniepoint project at the Bank of Industry, BOI, in Abuja.

Magaji said the registration of the new business was part of the CAC’s contribution to the realisation of the present administration’s economic revival plan.

He expressed delight over the collaboration with Moniepoint to develop the MSMEs sector, which will undertake the project at proposed discount rates to ensure Nigeria’s economic development.

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In his remarks, Moniepoint Executive, Babatunde Olofin, declared the company’s readiness to actualise the project, in line with the present administration’s economic revival agenda.

In her 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.

She noted that job creation to revolutionise the economy was part of President Bola Tinubu’s eight-point agenda, aimed at financial inclusion, poverty alleviation, and economic empowerment.

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The minister stated the government’s readiness 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.

High point of the event was the handling of the Moniepoint box containing the proposed two million new businesses set to be formalised.