The Federal Government has announced plans to empower at least 5,000 members of the National Youth Service Corps (NYSC) with N10 million each to fund their entrepreneurial ventures after they complete the NYSC programme.
This was disclosed by the Minister of Youth Development, Dr. Jamila Ibrahim, during the opening ceremony of the inaugural meeting of the NYSC management with heads of Corps Producing Institution (CPI) in Nigeria, which was held on Monday, in Abuja.
Ibrahim mentioned that this funding plan aligns with the upcoming NYSC reforms and is separate from the Nigerian Youth Investment Fund Programme scheduled for 2024.
She said that she plans to assemble a team that will be responsible for the review, restructuring, and reform of the NYSC.
The thrust of these reforms will be centred on imbuing participants with an entrepreneurship mindset and making skills-development the core of the programme. Though that is already part of the objectives carried out by the scheme, the aim is to partner with it to strengthen the mandate, she stated.
The Minister elaborated on how this initiative will enable the Federal Government to efficiently utilise and oversee the abundant assets of the NYSC, strategically investing in diverse sectors. She specifically emphasised that the targeted sectors for these investments include agriculture, manufacturing, garment-making, communication, and digital banking.
She also emphasised that this endeavor showcases the governments dedication to supporting entrepreneurial ventures led by young people. It is seen as progress towards engaging the youth in Nigerias journey towards becoming a trillion-dollar economy.
The Minster therefore, urged the participants, being the guardians of higher education in Nigeria, to embrace the significant duty of fostering the intellectual, moral, and civic development of the countrys young generation. This emphasizes the profound responsibility they hold in shaping the minds and character of the nations youth.
