As part of its ongoing efforts to deepen youth empowerment and promote economic inclusion across Nigeria, the Corporate Affairs Commission (CAC) has launched a special youth business registration drive in Bayelsa State. The initiative was unveiled during the official flag-off of the Bayelsa State E-Commerce Entrepreneurship Program (BEEP), themed “Made in Bayelsa, Sold to the World.”
The CAC Registrar General Ishaq Hussaini Magaji who led CAC delegation to the event introduced the new youth-focused registration scheme tailored to assist young Nigerians in formalizing their businesses and unlocking access to vital economic support such as grants, loans, and other government-backed interventions.
A symbolic highlight of the launch was the on-the-spot registration of a young Bayelsa girl’s business by the CAC team a gesture that marked the beginning of what the Commission hoped will become a nationwide movement of youth-owned, formally registered businesses.
In a historic and highly inspiring response, the Executive Governor of Bayelsa State, Senator Douye Diri immediately announced a ₦500 million interest-free startup fund, with the newly registered young entrepreneur receiving the first disbursement as a symbol of the state’s support for youth-led ventures.
CAC RG lauded the Governor’s action as a bold and commendable statement of government’s readiness to support youth initiatives, especially when they are backed by formal business structures.
“This is a powerful message to Nigerian youth that when you take the first step towards formalizing your business, the system will support you,” the CAC RG stated.
The Commission reaffirmed its commitment to working closely with all state governments to ensure no willing young Nigerian is left behind in the journey toward economic self-reliance.
The CAC RG also encouraged more youth to embrace formal business registration as a gateway to credibility, sustainability, and access to national and international markets.
The Bayelsa State Government’s support, particularly through BEEP, is being hailed as a model for other states seeking to empower their youth and grow the local economy through innovation, digital commerce, and institutional collaboration.
“Bayelsa has set a shining example.Let this be the beginning of a national movement toward youth enterprise and economic inclusion.”the CAC RG concluded.
