The Federal Government has announced its plan to support 5,000 National Youth Service Corps (NYSC) members with N10 million each for their entrepreneurial ventures after their service year. This was revealed by Dr. Jamila Ibrahim, the Minister of Youth Development, during the inaugural meeting of the NYSC management with heads of Corps Producing Institutions (CPI) in Abuja on Monday.

Dr. Ibrahim emphasized that this funding aligns with forthcoming NYSC reforms, separate from the Nigerian Youth Investment Fund program scheduled for 2024. The minister highlighted the administration’s commitment to fostering an entrepreneurship mindset among youth, aiming to make skills development central to the NYSC program.

The initiative envisions the NYSC as a self-sustaining and revenue-generating entity within five years, with strategic investments in sectors such as agriculture, manufacturing, garment making, communication, and digital banking. Dr. Ibrahim noted that a six-month abridged version of the National Youth Skills program would commence this year to accelerate this vision.

The minister urged educational leaders to nurture the intellectual and civic capacities of Nigerian youth, emphasizing the administration’s goal of driving innovation and economic growth through youth-led ventures. This initiative reflects a broader strategy to position Nigeria as a trillion-dollar economy, leveraging the potential of its young population.