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  • News - North Central - FCT
  • Updated: May 14, 2024

FG plans revenue generating scheme for NYSC members

FG plans revenue generating scheme for NYSC members

The Federal Government, FG, through the office of the Minister of Youth Development, Jamila Bio-Ibrahim, has announced plans to begin reforms and restructuring of the National Youth Service Corps Scheme, NYSC, to a revenue-generating model.

Bio-Ibrahim stated that a team to spearhead the review, restructuring, and reforms of the NYSC would be inaugurated soon.

Bio-Ibrahim made the statement at the opening ceremony of the maiden meeting of the NYSC management with heads of corps-producing institutions in Nigeria, in Abuja on Monday.

She said, “Permit me to inform us very briefly on what is to come regarding the 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.”

The minister explained that over 5,000 corps members would have their entrepreneurial ventures funded with close to N10m, adding 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 N10m when passing out.”

Meanwhile, the Director-General of the NYSC, Brig. Gen. Yushau’ Ahmed, while welcoming the heads of CPIs, 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 Administration, 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 challenges faced by the Scheme.

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