NYSC Plans Trust Fund As Startup Capital For Corps Members

The National Youth Service Corps (NYSC) is planning a Trust Fund as startup capital for corps members.

The scheme, under the leadership of Maj. Gen. Shuaibu Ibrahim, advocated the establishment of the National Youth Service Corps Trust Fund ( NYSCTF).

With the funds, argues NYSC, corps members would be able to access startup capitals to finance businesses they have learnt the skills to operate.

It also said the funds will address the infrastructural deficits besetting the Scheme.

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The NYSC has a Skill Acquisition and Entrepreneurship Development programme, where it upskills young graduates on a one-year mandatory service to the country.

It comprises both in-camp and post – camp training.

During the service, corps members acquire skills that will help them become unemployed.

Evidently, so many Corps Members that keyed into the activity are today business owners, employing other Nigerians, thereby, contributing to the country’s GDP.

This is in line with the philosophy behind the establishment of the National Youth Service Corps almost 49 years ago.

Also, the NYSC has remained an assembly point for young men and women from different tribes who come to serve their fatherland.

Likewise, the scheme remains a beacon of national unity as it has united Nigerians in many ways including inter-tribal marriages.

Unarguably, the centrality of the Scheme in overall national development cannot be over-emphasised.

Indeed, one of the greatest achievements of the Scheme in recent times is the prioritisation of the skill acquisition programme.

Many corps Members who have participated in the scheme have remained self-reliant since they learn various skills.

Among the skills learnt are fashion designing, hair dressing and barbing; Photography and Web designing.

Others skills are Graphic Designing, Baking, Creative, copy and content writing and Phone repairs among numerous others.

Meanwhile, to further show how necessary this scheme is, the Bank of Industry, Central Bank of Nigeria, Access Bank, Unity Bank, NYSC Foundation, and many others have and some are still supporting the scheme providing start-up grants, as well as loans to interested Corps Members that meet the requisite criteria to fund their businesses.

Implications:

The NYSC mobilises an average of 350,000 youths yearly for service.

However, the scheme has, over the years, discovered that only a few corps members succeed in getting grants and loans from the financial bodies as start-up capitals.

It therefore, proposed the trust fund to provide start-up capital.

The capital will provide a broader spectrum of Corps entrepreneurs to drive their businesses.

With the trust fund, millions of Nigerians will be lifted from poverty.

Meanwhile, the House of Representatives will hold a public hearing on the bill to establish the trust fund.

The hearing will be on Thursday, 24th February.