The Corporate Affairs Commission (CAC) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) are joining forces to empower youth businesses. Both agencies plan to inject N6 billion into the economy through free registration for young entrepreneurs. The project was launched only a few weeks ago and already inspires great excitement nationwide.
Through this joint plan, 250,000 youth-led businesses will receive free registration. This move will help them operate formally and gain easier access to financial opportunities. It will also encourage innovation among Nigeria’s young entrepreneurs who often face high registration costs.
Many young people have brilliant business ideas but lack resources to make them official. This program removes that burden and helps them focus on growing their ventures. It will also open doors to mentorship and business development support from both CAC and SMEDAN.
The impact of this collaboration will reach far beyond paperwork. Each registered business could create jobs and stimulate local trade. As more youth businesses become formal, communities will feel stronger economic activity and new hope for progress.
SMEDAN and CAC are showing that strategic collaboration can solve real problems. By removing obstacles and reducing financial strain, they are building a pathway to economic inclusion. These formalized businesses will not only contribute to the economy but also strengthen national development.
The agencies plan to go further by offering continuous support and training. This will help young entrepreneurs handle finances, expand markets, and stay compliant with regulations. Gradually, this process will boost confidence among investors and strengthen Nigeria’s business environment.
The N6 billion initiative is more than financial aid; it represents belief in the creativity of Nigerian youth. It proves that when given support, young people can create solutions and drive economic growth. Every registered youth business becomes a seed for innovation, productivity, and empowerment.
Applications for free registration are already rolling in across the country. Many youths see this as a golden chance to move from informal trading to formal business ownership. It marks a new beginning where energy, creativity, and enterprise can thrive together.
With this bold step, CAC and SMEDAN have given young Nigerians a renewed sense of purpose. Their partnership is not just building businesses—it is building confidence, hope, and a stronger future for all.
