NYSC remits over N1bn to federation account in two years

DIRECTOR-GENERAL of the National Youth Service Corps (NYSC) Shuaibu Ibrahim, a brigadier-general, says the scheme remitted over N1 billion into the federation account between 2020 and 2021. 

Ibrahim said the money was generated from different business initiatives established by the NYSC.

He disclosed this at the weekend when Nigeria’s Permanent Representative to the United Nations Tijjani Bande paid him a courtesy visit in Abuja.

“…in an unprecedented feat, the Scheme remitted over one billion Naira generated as revenue from its various ventures to the federal account between 2020 and 2021,” he said in a statement issued by the scheme’s Deputy Director Press and Public Relations Emeka Mgbemena.

Findings show that the NYSC Ventures were created in 2012 as training and mentoring platforms for corps members interested in entrepreneurship development. Initiatives and funds generated through the ventures are expected to contribute to the nation’s Gross Domestic Product (GDP).

The Ventures Department also produces corps members’ kits and other supplies to orientation camps nationwide. They include NYSC Garment Factories located in Minna, Niger State; and Mgbaku, Anambra State.

The NYSC Rice Mill in Ezillo; NYSC Bakery and Water Factory, Kubwa, Abuja; NYSC Feed Mill in lpaja, Lagos State;  NYSC Entertainment Company Limited, which comprises the NYSC Nationa! Band, NYSC National Troupe and the NYSC Movie, are all registered.

Also, there are also NYSC Farms in Kwali, FCT, and Saminaka, Kebbi State.

Meanwhile, in a bid to enhance credibility of the mobilisation process and safeguard the nation’s education system, the DG announced it held separate meetings with corps producing institutions based in some African countries, including relevant Nigerian regulatory and professional bodies.

Through public sensitisation, production and distribution of face masks, hand sanitisers and liquid soap, Ibrahim also identified some COVID-19 preventive intervention measures deployed by the corps members.

Other achievements listed by the DG were the completion of NYSC North-West and South-West zonal skill acquisition centres, the commencement of work on the centre for the North-Central; publication of nine books on the achievements of the scheme; the establishment of a museum; the process of establishing the NYSC Radio, and the construction of NYSC Printing Press in Kaduna State.

    Earlier, Bande had applauded the scheme, describing it as a well-thought-out initiative for youth engagement in the nation.

    He stressed that matters of youth development were central to the progress of any country, adding that Nigeria had, through the NYSC, demonstrated recognition of youths as critical assets.

    The diplomat, who noted that the scheme had broadened the knowledge of youths about the country and instilled patriotic zeal in them, also expressed delight at its current focus on the empowerment of corps members for self-employment.

    He commended Ibrahim for his achievements since taking office as chief executive of the scheme.

    Olugbenga heads the Investigations Desk at The ICIR. Do you have a scoop? Shoot him an email at [email protected]. Twitter Handle: @OluAdanikin

    Join the ICIR WhatsApp channel for in-depth reports on the economy, politics and governance, and investigative reports.

    Support the ICIR

    We invite you to support us to continue the work we do.

    Your support will strengthen journalism in Nigeria and help sustain our democracy.

    If you or someone you know has a lead, tip or personal experience about this report, our WhatsApp line is open and confidential for a conversation


    Please enter your comment!
    Please enter your name here

    Support the ICIR

    We need your support to produce excellent journalism at all times.


    Most read