In a bold move to energize Nigeria’s youth-driven economy, the Corporate Affairs Commission (CAC) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) have unveiled a groundbreaking ₦6 billion initiative designed to formalize and accelerate 250,000 youth-led businesses nationwide.
The joint program—hailed as one of the largest youth enterprise interventions in recent years—offers free business name registration to young entrepreneurs, particularly those in creative and emerging digital sectors. Beyond paperwork, the scheme is expected to create thousands of new jobs and inject a new wave of innovation into Nigeria’s MSME landscape.
During a courtesy visit by the Association of Northern Nigerian Students (ANNS) in Kaduna, CAC Registrar-General, Hussaini Ishaq Magaji (SAN), described the project as a strategic economic injection that empowers youth participation in national development.
“Through this initiative, we are not just registering businesses—we are unlocking ₦6 billion worth of opportunities for young Nigerians,” Magaji stated.
He encouraged students and aspiring business owners to seize the opportunity, emphasizing that formal registration opens access to funding, partnerships, and credibility within the formal economy.
The CAC–SMEDAN collaboration forms part of a wider federal effort to strengthen micro, small, and medium enterprises (MSMEs) while tackling youth unemployment and informal sector limitations.
Digital Transformation at the Core
In addition to the free registration initiative, CAC is accelerating its digital modernization drive through the deployment of an Artificial Intelligence (AI) agent designed to address operational bottlenecks and improve service delivery.
The AI system—currently active in compliance, registry, and customer service departments—will analyze and respond to over 3,000 emails daily, detect duplicate entries, and route issues to the appropriate departments for faster action.
According to Magaji, the technology is part of CAC’s mission to create a fully automated, transparent, and responsive business registration system.
Despite initial challenges such as processing delays and high traffic on its AI-driven registration portal, the system now handles over 11,000 transactions daily, offering instant name approvals and intelligent suggestions for unavailable business names.
What This Means for Young Entrepreneurs
For many Nigerian youths, especially those in content creation, agriculture, and tech-based ventures, this initiative represents more than free registration—it’s a gateway to formal business identity, financial inclusion, and growth opportunities.
By simplifying registration and integrating AI to cut bureaucratic delays, CAC and SMEDAN are signaling a new era of youth-centered digital governance—one where technology and innovation merge to drive sustainable enterprise development.
