KEY POINTS
- NYSC’s DG urged corps members to save and build income beyond their allowance.
- He said over one million corps members have registered businesses with the CAC.
- NYSC is digitizing entrepreneurship training through a deal with Pan-Atlantic University.
The National Youth Service Corps has urged its corps members to save money and build extra income streams instead of relying on their monthly allowance alone. Director-General Brig. Gen. Olakunle Nafiu made the appeal at the News Agency of Nigeria forum in Abuja on Wednesday, a day before the scheme marks its 53rd anniversary. Moreover, he tied the message to a wider push for financial discipline and entrepreneurship.
Save first, then earn more
Nafiu argued that saving is a habit, not a function of income size. Specifically, he said a young person who cannot save N77,000 would likely struggle even on N300,000. “We encourage them to save and think beyond monthly allowance,” he said. “If you cannot save from N77,000, even if you are paid N300,000, you may still struggle to save.” Therefore, he urged corps members to start small and stay consistent.
The director-general also pointed corps members toward the private sector. Indeed, he stressed that governments rarely employ the most people anywhere in the world. “It is small businesses and private enterprises that drive employment and economic growth,” he said. Consequently, he wants young Nigerians to treat enterprise as a path, not a fallback.
Skills, ventures and the digital economy
Nafiu credited the Skill Acquisition and Entrepreneurship Development program, known as SAED, with building financial discipline and self-reliance. Additionally, he said the scheme keeps teaching corps members about small business, formal registration and the digital economy. So far, more than one million corps members have registered with the Corporate Affairs Commission through NYSC-backed initiatives.
The scheme is also going online. Recently, NYSC signed an agreement with the Enterprise Development Centre of Pan-Atlantic University to digitize entrepreneurship training. Now, corps members can take the courses wherever they serve, which should widen access and lift participation. Meanwhile, NYSC Ventures has expanded into farms, bakeries and water factories that give members hands-on experience.
“We have farms, bakeries and water factories where corps members acquire practical experience,” Nafiu said. “Even if they do not continue those businesses later, they leave with valuable entrepreneurial and management skills.”
Pushing back on the fraud stereotype
Nafiu also urged corps members to explore legitimate online work, from data entry to remote support for foreign companies. However, he pushed back on the assumption that every successful young Nigerian cuts corners. “Not all young people doing well are involved in internet fraud,” he said. “Sometimes it is simply about ideas and awareness, and that is what we are exposing corps members to.”
Looking ahead, the director-general said a proposed NYSC Trust Fund would strengthen skills training, entrepreneurship, staff development and ICT systems. Together, he argued, those investments would better support corps members who want to launch viable businesses after their service year.
