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The Minister of Youth Development, Jamila Bio-Ibrahim, on Tuesday said plans are underway to commence a revenue generation model for the National Youth Service Corps Scheme.
The minister also stated that such move would aid reforms and restructuring of the scheme to make meaningful development.
He hinted 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.
“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 said.
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 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.
