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NYSC DG Canvasses Favourable Environment for Corps Entrepreneurs

Last modified about 2 years ago by . Posted in NYSC |


CBN promises millions of naira.

Towards making extra efforts to reduce unemployment and enhance job creation in the country, the Director General of the National Youth Service Corps, Brigadier-General Johnson Bamidele Olawumi has admonished all serving Corps Members to come up with viable business ideas and become job creators.

Olawumi gave this charge at the official launch of the Youth Innovative Entrepreneurship Development Programme (YIEDP), a tripartite agreement between the CBN, NYSC and Heritage Bank, held in Abuja.

He said there was the need to boost job creation among Corps Members and encourage exportation of Nigerian made products adding that the NYSC Scheme has trained over five hundred thousand Corps Members in Agro-Allied based skills through SAED programme.

He disclosed that Corps Members would enjoy unhindered access to funds as he enjoined Nigerians to patronize Corps entrepreneurs stating that training, financial empowerment and conducive environment are the necessary prerequisites for business growth.
The YIEDP was designed to complement the NYSC-SAED programme.

While launching the programme, the Governor, Central Bank of Nigeria, Mr Godwin Emefiele, said the programme is targeting 10,000 Youths for its pilot case with consideration for ex-corps members with not more than five years post service experience.

He added that the sum of three million naira is available for each beneficiary with 9% interest rate while repayment of the loan would be based on the gestation of such project but added that the collateral is the certificate of National service and the original certificate from the Institution of graduation attended by the loan beneficiary.

Emefiele, who said there are many youths with bright ideas but lack the financial wherewithal to start up added that the CBN would make funds available to support Corps entrepreneurship in Nigeria.

The website to access for the YIEDP is www.yiedp-hbng.com

The Deputy Governor, Economic Policy, Central Bank of Nigeria, Dr (Mrs) Sarah Alade, said about seventy percent of the total population of the country are Youths, hence, the need to introduce them to job creation, boost wealth creation and reduce the increasing rate of unemployment among the Youths.

In his remark, the Chairman, Heritage Bank Plc, Mr Akinsola Akinfemiwa stated that the tripartite agreement is aimed at turning Corps Members with creative ideas to job creators.

“We are looking for game-changers that will break ideas and move this nation forward. We are ready to contribute our quota to the development of this country. You must think and work”. he said.

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