NYSC tasks corps members on future, diligence
The Federal Government has unveiled the YouthCred programme, encouraging National Youth Service Corps (NYSC) members to take advantage of the initiative.
Speaking yesterday in Abuja while flagging off the scheme at the orientation camp for NYSC Batch B Stream 1 participants, Minister of Youth Development, Ayodele Olawande, described the move as a bold step towards empowering young Nigerians, giving them a solid footing in a credit-based economy.
The Guardian reports that YouthCred is a national credit scheme aimed at providing affordable consumer credit to 400,000 young Nigerians, including NYSC members.
Already, N9 billion has been earmarked for the first phase of the programme.
Specifically, it would see eligible corps members accessing up to N200,000 single-digit interest loan.
Olawande argued that what many Nigerian youths need is not a handout, but access to structured credit and a government that sees them as partners in national development.
He said, “This is no longer about cosmetic policies. We are talking about structural empowerment. “For the first time, you have a President who is not just ruling, but leading. That’s the difference.”
He acknowledged scepticism among youngsters towards government initiatives, attributing it to decades of disconnect.
The initiative, the minister noted, would kick off with NYSC members across all of the country’s 774 council areas and over 8,000 electoral wards, stressing that the goal is to eventually extend the programme to all Nigerian youths, including those in informal sectors without access to traditional banking.
He lauded President Bola Tinubu for his support, as well as the Managing Director/CEO of CREDICORP, Uzoma Nwagba, for initiating the scheme.
Nwagba, on his part, explained that the loan scheme aims to cater to various needs such as relocation expenses, buying work equipment or tools, skills development, and financing small-scale enterprises.
He emphasised that the programme seeks to offer a viable alternative to predatory lenders, also known as ‘loan sharks’, providing a more affordable and sustainable credit option for beneficiaries.
Meanwhile, Director-General of the NYSC, Brigadier-General Olakunle Nafiu, has called on the 2024 Batch ‘B’ Stream members to embrace challenges of the future with courage and vision, highlighting the importance of innovation, resilience, and a commitment to a positive change. He also congratulated them on the successful completion of their one-year mandatory national service.
Nafiu’s congratulatory message was conveyed in a statement shared via the official X handle of the NYSC yesterday.
The piece of advice comes as thousands of corps members nationwide conclude their service year, following months of community development efforts, primary assignments, and nation-building projects in various sectors.
The statement read in part: “I extend my heartfelt congratulations to our 2024 Batch ‘B’ Stream II Corps Members as they celebrate the successful completion of their mandatory service year.
“Your hard work and commitment to building a new Nigeria have not gone unnoticed. As you step into the future, I urge you to embrace the challenges that lie ahead. Rise to the occasion and become the leaders our nation truly needs.
