Senate panel flags off free business registration for youths

The Senate Committee on Local Content has launched free corporate business registration for youths to boost employment opportunities.

Senator Natasha Akpoti-Uduaghan (PDP, Kogi Central), who spearheaded the initiative in Kogi State, also empowered tertiary institution students with multipurpose business carts and announced the free Corporate Affairs Commission (CAC) registration for 2,500 Small and Medium Enterprises (SMEs) in the district.

She stated that the initiative aims to drive innovation in governance and impact the lives of indigent students across the country, allowing them, market women, and other business owners to register their businesses with the CAC at no cost.

According to Natasha, the business empowerment carts are intended to foster self-reliance and entrepreneurship among students. This initiative is designed to equip them with skills and resources to start and grow profitable businesses, contributing positively to society after graduation and reducing dependency on government support.

The free CAC registration will also enable students to register their businesses on the spot, with certificates of registration provided immediately. The registration, which would have cost N11,000 each, was fully covered by the lawmaker, totaling N27,500,000 for all 2,500 SMEs.

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Senator Natasha stressed the importance of business registration as a foundation for legal business operations, providing the right benefits and recognition. She noted that the 2,500 businesses are already being handled by her office, with business carts distributed to the National Ebira Students’ Union (NAES) in selected institutions to support underprivileged students.

Each beneficiary received start-up funds and transport allowances. Mr. Bello Muftahu Esq. from the CAC FCT Zonal Office stated that the registration would provide legal recognition and access to government and private grants and loans, and praised the lawmaker for her initiative.

Beneficiary institutions include Kogi State Polytechnic, Lokoja; Kogi State University, Anyigba; Ahmadu Bello University, Zaria; Confluence University of Science and Technology, Osara; Federal College of Education, Okene; Bayero University, Kano; Federal Polytechnic, Nasarawa; and Kaduna State Polytechnic.

The business kits include multipurpose business carts with various tools and a clean cooking kiosk PRO.

Attendees included Hon. Abdulrahman Abdulmaleek Danga, Hon. Bode Ogunmola, Alhaji Abdurahman Badamasiu, Dr. Umar Hassan, Mr. Muftahu Bello, Baba Abdulrazaq, Alhaji Yahaya Karaku, Mrs. Mohammed Alami, and representatives from various sectors.