The Federal Government has announced a plan to empower at least 5,000 Corps members with ₦10 million each to initiate their entrepreneurial ventures upon completing the National Youth Service Corps (NYSC) program. Dr. Jamila Ibrahim, the Minister of Youth Development, unveiled this initiative to promote entrepreneurship and skill development among participants.
During the inaugural meeting of the National Youth Service Corps (NYSC) management with heads of Corps Producing Institutions (CPI) in Nigeria, Dr. Ibrahim outlined proposed reforms for the NYSC program. These reforms aim to cultivate an entrepreneurial mindset and prioritize skills development. The objective is to improve the efficiency and effectiveness of the scheme, with the ultimate goal of making it self-sustaining and revenue-generating within the next five years.
To achieve this objective, the Federal Government intends to formalize the NYSC ventures as an investment and asset management entity. This step will facilitate strategic investments in various sectors, including agriculture, manufacturing, garment-making, communication, and digital banking.
This initiative underscores the government’s dedication to investing in youth-led entrepreneurial endeavors as a critical component of Nigeria’s path to becoming a trillion-dollar economy. Additionally, the National Youth Skills program will play a significant role, with a six-month condensed version scheduled to commence this year to drive innovation and economic expansion.
Brig.-Gen. Yusha’u Ahmed, Director-General of NYSC, stressed the importance of collaborating with Vice-Chancellors, Rectors, and Provosts to enhance the mobilization process. The meeting aimed to rectify shortcomings and ensure a smoother mobilization process by garnering greater commitment from stakeholders.
Minister of the Federal Capital Territory, Nyesom Wike, praised the NYSC’s adoption of innovative strategies and technology-driven approaches to improve efficiency. He encouraged active participation in the meeting, expressing confidence that it would result in a more responsive and impactful NYSC.
