The National Youth Service Corps (NYSC) has reported that more than 38,000 corps members have transitioned into entrepreneurship and are flourishing as business proprietors.
Brigadier General Yushau Ahmed, Director General of the NYSC, revealed this information while delivering his keynote speech at the Skill Acquisition and Entrepreneurship Development (SAED) Stakeholders’ Meeting in Abuja on Monday.
The gathering facilitated discussions, assessed program effectiveness, and strategized future endeavors to foster entrepreneurship and self-sufficiency among Nigerian youths.
In his speech, the Director General stated, “I am most pleased to report that thirty-eight thousand, four hundred and sixty-three (38,433) of them have established their own businesses and doing well as employers of labour, while eleven thousand, eight hundred and eighty-one (11,881) were financially empowered by our collaborating partners.
“So far, 32,402 Corps members have been trained on eight modules on ‘kick-starting my business fundamentals
“The training will give 1,100 Corps members across Nigeria access to grants powered by NNPC Foundation to kick-start their businesses.
“Another gain of our collaboration with Kudimata is the acceptance by the Corporate Affairs Commission to register over 30,000 businesses of Corps members at 50% discount.”
Brigadier General Ahmed underscored the efficacy of the program in instilling self-reliance among Nigerian youths. He also recognized the substantial contributions of various partners in executing the SAED initiative. The NYSC DG highlighted the crucial role of collaborations with financial institutions and foundations, emphasizing their significant impact.
He mentioned that these partnerships have yielded tangible outcomes, citing Access Bank Plc’s construction of well-equipped Skill Acquisition Centers across diverse geopolitical zones. Additionally, collaborations with banks like Unity Bank and Wema Bank have facilitated funding for corps members’ businesses.
While acknowledging that not all corps members may opt for entrepreneurship, Brigadier General Ahmed noted ongoing efforts to enhance the NYSC job portal and provide free digital training programs for those inclined towards white-collar jobs.
Despite the program’s successes, the NYSC DG outlined challenges such as the necessity for more capacity-building training, scholarships, access to markets, and favorable loan terms. He appealed to stakeholders for sustained and enhanced support to address these obstacles.
Brigadier General Ahmed stressed the NYSC’s pivotal role as a major influencer of Nigerian youths and called for collective endeavors to prepare them for their role in the country’s socio-economic advancement.
During the meeting, Mrs. Ngozi Nwatarali, Director of SAED, reiterated the importance of stakeholder collaboration in realizing the program’s objectives. She emphasized the role of NYSC SAED in empowering youths to achieve self-reliance and contribute meaningfully to national development.
“Our presence here is a step towards eradicating poverty. The hurdles of the paucity of funds, limited access to opportunities for business finance, and absence of a strong apprenticeship system are all surmountable,” Mrs Nwatarali affirmed, expressing confidence in overcoming challenges with the support of stakeholders.