Home News FG mulls N10m entrepreneurial grant for Corps members

FG mulls N10m entrepreneurial grant for Corps members

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The Minister of Youth Development, Dr. Jamila Bio-Ibrahim has announced plans to begin reformation and restructuring of the National Youth Service Corps (NYSC) scheme.

The Minister also stated that over 5,000 corps members would have their entrepreneurial ventures funded with about N10 million and that a team to spearhead the review, restructuring, and reformation would be inaugurated soon.

Bio-Ibrahim made the statement at the opening ceremony of the maiden meeting of NYSC management with heads of Corps-Producing Institutions (CPIs) in Nigeria, in Abuja on Monday.

“Permit me to inform us very briefly on what is to come regarding NYSC reforms. I am pleased to announce that I will be inaugurating a team to undertake the review, restructuring, and reforms of the NYSC.

The first of these reforms will be centred on reviewing participants with an entrepreneurship mindset and making skills development a core of the programme.”

She explained that that over 5,000 corps members will have their entrepreneurial ventures funded with close to N10 million, and that the vision was not only to have a self-sustaining scheme but also a revenue-generating programme within the next five years.

“The NYSC already does that but the objective is to work with them to strengthen that mandate that they already have to be more efficient, effective, and beneficiary.

“So we envision a future where the NYSC programmes are not only self-sustained but also a revenue-generating programme within the next five years and to achieve this, we will institutionalise the NYSC ventures as an investment and asset management outfit.

“Furthermore, as part of the Nigeria Youth Investment Fund programme for 2024, I’m also pleased to announce that at least 5,000 corps members will have their entrepreneurial ventures funded with up to N10 million passing out” Bio-Ibrahim said.

While welcoming the heads of CPIs, NYSC Director-General, Brigadier General Yusha’u Ahmed (rtd.) said the meeting was aimed at enhancing the mobilisation process of prospective corps members, as well as evolving strategies for eliminating identified flaws and ensuring a more seamless mobilisation process.

“We have identified some obstacles, including the delegation of roles to subordinates, and we believe that the direct involvement of chief executives of institutions will promote a deeper appreciation of issues and ensure desired results”, Ahmed said.

He reiterated that the NYSC was committed to the security and general welfare of corps members, and appealed to CPIs, parents, and the general public to complement efforts in sensitising young graduates on call-up for national service.

Minister of the Federal Capital Territory (FCT), Barrister Nyesom Wike, who was represented by the Mandate Secretary of Women Affairs Secretariat in the FCT Administration, Mrs. Adedayo Benjamins-Laniyi commended the decision of the NYSC to invite critical stakeholders to brainstorm strategies for greater success, and for achieving desired results.

He praised the NYSC’s commitment to national development and integration while acknowledging the challenges faced by the Scheme.

“The NYSC has consistently symbolised our collective commitment to national development, unity, and integration. However, like any other human endeavour, we are aware that the Scheme faces challenges, including those posed by the mobilisation process.

“In this regard, the need for the adoption of innovative strategies to surmount challenges and enhance best practices for the engagement of our young graduates in national development efforts cannot be overemphasised”, he added.

 

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