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HomeLatestFG to Fund 5,000 NYSC Members With N10m StartUp Grant 

FG to Fund 5,000 NYSC Members With N10m StartUp Grant 

Toba Owojaiye reporting 

Abuja, Nigeria 

 

In a move aimed at fostering entrepreneurship among Nigeria’s youth, the Federal Government has pledged financial support to at least 5,000 National Youth Service Corps (NYSC) members. Each participant will receive N10 million to kickstart their entrepreneurial endeavors upon completing the NYSC program.

Truth Live News gathered that the initiative was disclosed by the Minister of Youth Development, Dr. Jamila Ibrahim, during the inaugural meeting between the NYSC management and leaders of Corps Producing Institutions (CPI) in Nigeria. The event, held on Monday in Abuja, marked the beginning of what the Minister described as crucial reforms within the NYSC program.

Dr. Ibrahim emphasized the importance of instilling an entrepreneurship mindset among participants, with skills development at the core of the program’s objectives. She outlined plans for the National Youth Skills program to play a central role in these reforms, with a shift from the traditional 12-month program to a six-month abridged version.

The Minister highlighted the strategic significance of the ventures funded through this program, foreseeing their emergence in sectors crucial for driving innovation and economic growth.

“While this objective aligns with the scheme’s existing goals, our aim is to strengthen its mandate through partnership,” she explained. “We envision a future where the NYSC program not only sustains itself but also becomes a revenue-generating program within the next five years.”

To achieve this vision, Dr. Ibrahim announced plans to institutionalize NYSC ventures as an investment and asset management outfit. This move is intended to ensure the sustainability and profitability of ventures supported by the program.

The announcement has garnered positive reactions from netizens, who view it as a significant step forward for youth empowerment in Nigeria. Many express hope that the Minister will continue to prioritize such initiatives, particularly as a female youth in a position of influence.

“This is the first positive move we’ve seen from the Minister of Youth, and we hope she builds on it,” remarked one netizen, reflecting the sentiments of many. “As a female youth with this rare privilege, she has a great opportunity to make a difference.”

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