The Federal Government has announced plans to provide financial support to at least 5,000 National Youth Service Corps (NYSC) members, offering N10 million each to help them launch entrepreneurial ventures after completing their service.
Jamila Ibrahim, Minister of Youth Development made this announcement during the inaugural meeting between NYSC management and leaders of Corps Producing Institutions (CPI) in Abuja on Monday.
“The focus of these reforms is to instill an entrepreneurial mindset and make skills development the core of the program,” Ibrahim stated. “The National Youth Skills program will play a pivotal role in these reforms. While typically a 12-month program, this year we’ll start with a six-month abridged version.”
She emphasized that the funded ventures are expected to emerge from this program, targeting various strategic sectors to drive innovation and economic growth.
“Although entrepreneurship has always been a part of the NYSC objectives, we aim to partner with the scheme to strengthen its mandate.
“We are looking to make the scheme more efficient, effective, and beneficial to both the nation and the Corps members”, Ibrahim added.
Ibrahim also outlined a vision for the future where the NYSC program becomes self-sustaining and generates revenue within the next five years.
To achieve this, she mentioned plans to institutionalize NYSC ventures as an investment and asset management outfit.
This initiative marked a significant step in empowering Nigerian youth and fostering economic development through entrepreneurial support and skills development.
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