In a bid to support the businesses of corp members, The National Youth Service Corp or NYSC, on Tuesday, disclosed that it has paid out N1.5 billion through its Graduate Entrepreneurship Fund, in partnership with the Bank of Industry or BOI.
The fund is part of the NYSC’s commitment to invest in ventures run by corp member, making them employers of labour after their service year.
Yusha’u Ahmed ,the Director General of the scheme, explained that each corp member can access up to N3 million by writing bankable business proposals.
He said this during a media dialogue with journalists and editors, to Mark the 50th anniversary of the scheme in Abuja.
He praised the Nigerian media for their role in the growth of the Scheme, which he said has helped in making the organisation effective and transparent.
Ahmed said that the Scheme has made useful contributions to the development of Nigeria, and has made it become a household name in the country.
However, Ahmed listed some of the challenges to include; “Paucity of funds, inadequate facilities in many Orientation Camps in the face of the Annual increase in the population of Corps participants, rejection of Corps Members by some employers, lack of Transit Lodges for Corps Members in many States,” amongst others.
In addition, he said that the scheme is tightening collaboration with security agencies to ensure the safety of corps members.
The National Youth Service Corp (NYSC), in partnership with the Bank of Industry (BOI), has disbursed N1.5 billion through its Graduate Entrepreneurship Fund to support the businesses of corp members. Each corp member can access up to N3 million by submitting viable business proposals. This initiative is part of NYSC's effort to foster entrepreneurship among corp members, enabling them to become employers after their service year.
During the 50th anniversary celebration in Abuja, NYSC Director General Yusha’u Ahmed acknowledged the media’s role in the scheme's success and outlined the scheme's contributions to Nigeria's development. Despite these achievements, Ahmed highlighted challenges such as insufficient funds, inadequate facilities in Orientation Camps, rejection of corps members by some employers, and lack of Transit Lodges for corps members in many states.
To ensure the safety of corps members, NYSC is strengthening its collaboration with security agencies.
