The Corporate Affairs Commission (CAC) has assured of its commitment to complement the Federal Government’s efforts to lift 100 million Nigerians out of poverty, as the country is set to hold the Nigeria Industrialisation Summit-2021.

This is as the commission has introduced various reform initiatives geared towards making the commission attain the status of a world-class companies’ registry.

This disclosure is contained in a statement signed by CAC’s Head of Media unit, Mr Rasheed Mahe, on Saturday in Abuja.

What the CAC is saying

According to NAN, Mahe quoted the Registrar General/CEO of CAC, Alhaji Garba Abubakar, as saying this when he received members of the summit’s Local Organising Committee led by David Erewa,  the National Vice President of Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA).

Abubakar, who described CAC as the gateway to any foreign or local investment, expressed the commission’s readiness to provide services at the event to facilitate Nigeria’s dire desire for industrialisation as well as its support to the organisers in accordance with provisions of the law.

Speaking at the occasion, the National Vice President of NACCIMA, Mr David Eweta , said the summit was being organised in accordance with President Muhammadu Buhari’s commitment to lift 100 million Nigerians out of poverty within 10 years.

He revealed that in order to help Nigeria realise its poverty alleviation objective, the African Development Bank (ADB) under the leadership of its President, Dr. Akinwunmi Adesina, would provide $520 million as grants to support small businesses in some selected states across the country.

He further disclosed that in order to encourage participation, attendance would be free, adding that the event scheduled for November 2021 was expected to draw participants and resource persons from across the globe.

What you should know

Recall that around October 2020, the CAC moved to provide free business registration services to 250,000 businesses as part of its intervention especially for small and medium scale businesses, to reduce the impact of the coronavirus pandemic.
Earlier in September 2021, the CAC revealed that it has registered 245,000 businesses under its free business name registration scheme with the federal government bearing 50% of the cost of registration.