The Senate Committee on Local Content has introduced free corporate business registration for youths to enhance employment opportunities. Senator Natasha Akpoti-Uduaghan (PDP, Kogi Central) launched this initiative in Kogi State, providing multipurpose business carts to tertiary institution students and facilitating free Corporate Affairs Commission (CAC) registration for 2,500 Small and Medium Enterprises (SMEs) in the district.
This program aims to promote innovation in governance and improve the lives of underprivileged students nationwide, enabling them, market women, and business owners to register their businesses with CAC at no cost. By offering start-up funds, transport allowances, and business empowerment carts, the initiative fosters self-reliance and entrepreneurship among students, preparing them for profitable business ventures post-graduation.
The free CAC registration eliminates the N11,000 registration fee for each business, covering a total of N27,500,000 for all 2,500 SMEs. This initiative emphasizes the importance of legal business operations, providing access to government and private grants and loans, and supporting the growth of budding entrepreneurs.
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