Nigerian Govt To Give Corps Members N2Million For Business After Service Year - NYSC

Good News! 2 Million Naira After Service Year.
The Osun State Coordinator of the National Youth Service Corps (NYSC), Mr. Emmanuel Attah, has said the Federal Government has made plans for corps members with good business ideas to get loans of between N200,000 and N2m to start their businesses after the service year.

Mr. Attah stated that the loan, which would be given in collaboration with the Bank of Industry, the Central Bank of Nigeria, and Small and Medium Enterprises Development Agency of Nigeria, would be made available to corps members after they had undergone Skill Acquisition and Entrepreneurial Development (SAED) programmes.

Mr Attah made this known during the SAED Inter-Platoon competition and exhibition at the NYSC Orientation Camp in Ede, Osun State on Tuesday.

"Interested corps members, who have undergone the SAED programme, will be given loans of between N200,000 and N2m after the service year. The business proposal will determine how much will be given to each applicant.

"The loan will be interest-free, and the NYSC discharge certificates of interested corps members who apply for the loans, will be used as the collateral. The discharge certificates will be subsequently returned to them after repayment of the loan, which has no time bound.

"The SAED programme and supporting loan were put in place after the NYSC observed that youths, after the service year, always end up unemployed and roaming the streets looking for non-existing white collar jobs.

"The skill acquisition programme will empower corps members after the service year to be self-employed and also be employers of labour. This will also reduce their involvement in criminal activities", Mr Attah said.

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