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5,000 NYSC Members to Receive N10 Million Each for Business Ventures |
The Federal Government has unveiled plans to disburse N5 billion to empower at least 5,000 National Youth Service Corps (NYSC) members across the country for entrepreneurial ventures after their service year.
The Minister of Youth Development, Dr. Jimila Bio Ibrahim, made this announcement in Minna, Niger State, during the swearing-in ceremony of the 2024 Batch ‘B’ Stream 1 Corps members posted to the state.
She explained that each of the 5,000 Corps members selected for the initiative would receive N10 million as a start-up grant to finance their business ideas.
“We are implementing significant reforms to the NYSC program, integrating skills development and entrepreneurship into your service year. These changes are designed to make your NYSC experience not only a period of national service but also a time to gain valuable skills and knowledge,” the minister said while addressing the Corps members.
Ibrahim also revealed that the restructured Nigerian Youth Investment Fund (NYIF) will begin accepting applications this month.
According to her, the scheme has been simplified to enable more young entrepreneurs to access financial support for their innovative ideas.
The minister further added that recognizing the need for practical skills in today’s competitive economy, the Federal Government is also launching the National Youth Skills Program (NYSP) this month.
“This program aims to train over one million young Nigerians in diverse fields such as technology, agriculture, and more,” she said.
At the event, Niger State Governor Muhammed Bago announced a donation of N320 million to be credited to the accounts of the 1,600 corps members posted to the state to ease hardship and make their stay comfortable.
He also disclosed that N5 billion has been allocated for the construction of a new NYSC camp at Paiko in Paikoro LGA of the state.
