NYSC Expands SAED Programme, Moves to Establish Trust Fund for Corps Members

The National Youth Service Corps (NYSC) has intensified efforts to strengthen youth empowerment in Nigeria through an expanded Skills Acquisition and Entrepreneurship Development (SAED) programme, alongside new funding partnerships and the proposed NYSC Trust Fund aimed at improving access to capital for corps members.

The Director-General of NYSC, Brig.-Gen. Olakunle Nafiu, disclosed this in Abuja on Sunday while outlining reforms designed to reposition the scheme to better address youth unemployment and support sustainable entrepreneurship among Nigerian graduates.

He explained that although unemployment was not a major concern when NYSC was established in 1973, the inclusion of skills acquisition in its structure reflected the foresight of its founders, who anticipated future economic and labour market challenges.

Nafiu said the SAED programme has now become a central component of NYSC operations, especially as the country continues to grapple with rising unemployment and economic pressure affecting young people.

According to him, the scheme is now more intentional in its approach, ensuring that corps members graduate from service not only with academic certificates but also with practical vocational and entrepreneurial skills that can support self-reliance and job creation.

He noted that participation in SAED has continued to increase, with corps members actively engaging in training areas such as digital skills development, agriculture, fashion design, trades, and small business management.

However, he identified access to finance as the major challenge limiting the transition from training to actual business ownership among corps members.

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“The issue is not training; funding is what we are now trying to address so that they can translate these skills into businesses,” he said.

The NYSC Director-General also revealed that the scheme has strengthened its collaboration with the Bank of Industry (BoI) to support corps members with funding for viable business ideas.

Through the partnership, the BoI provides an annual ₦2 billion grant facility, while eligible corps members can access up to ₦5 million in loans at about 9 per cent interest rate, which is significantly lower than commercial bank rates.

He added that discussions are ongoing to further reduce the interest rate to make funding even more accessible, while financial literacy training has also been integrated into the NYSC orientation programme to improve corps members’ business and money management skills.

Nafiu further linked the long-term sustainability of the programme to the proposed NYSC Trust Fund, which is expected to provide a dedicated financing structure for youth empowerment and infrastructure development across NYSC facilities nationwide.

He explained that the fund would enable the scheme to offer direct support to corps members, including low-interest loans ranging from zero to three per cent, as well as grants for promising entrepreneurial projects.

“With the Trust Fund, we will be able to invest more in SAED and even provide direct grants to corps members from our own resources at zero to three per cent interest rates,” he said.

He added that the Trust Fund would also help address infrastructural gaps in orientation camps and NYSC state secretariats, improving service delivery and programme delivery efficiency across the country.

The NYSC boss also highlighted the role of NYSC Ventures, which includes farms, bakeries, and water production units designed to give corps members hands-on entrepreneurial experience while also generating supplementary income for the scheme.

He explained that these ventures serve as practical training platforms, particularly in agro-allied value chains and production-based enterprises, helping corps members gain real-world business exposure.

Nafiu stressed that although NYSC is not a profit-making organisation, all proceeds from its ventures are remitted into the Treasury Single Account (TSA) in line with government financial regulations.

He expressed optimism that improved funding through the proposed Trust Fund and strengthened partnerships would enable the scheme to scale up its entrepreneurship initiatives and significantly increase the number of corps members transitioning into job creators rather than job seekers.

NYSC reaffirmed its commitment to continuously evolve its programmes in line with Nigeria’s economic realities, with a focus on entrepreneurship development, innovation, and youth employment generation.

NYSC Expands SAED Programme, Moves to Establish Trust Fund for Corps Members

Yayi’s emergence, defining moment for unity, equity, progress — Ogun West Professionals

The emergence of Senator Solomon Olamilekan Adeola as the consensus governorship candidate of the All Progressives Congress (APC) for the 2027 election has been described as a turning point for unity, equity and political stability in Ogun State, with stakeholders saying the move could reshape the dynamics of the race well ahead of the polls.

The Ogun West Professionals for Yayi (OGWPY), in a statement, said the consensus arrangement not only eliminates internal rivalry but also strengthens the APC’s chances of retaining power, positioning the party for early mobilisation and strategic coordination.

The group noted that the development reflects a deliberate effort to align political interests and avoid divisions that have historically weakened electoral outcomes.

According to the group, the decision—announced by Governor Dapo Abiodun—demonstrates “rare statesmanship and foresight,” while also acknowledging the broader leadership climate under President Bola Ahmed Tinubu, which it said has encouraged unity and discipline within the ruling party.

OGWPY also commended former governors Olusegun Osoba, Gbenga Daniel and Ibikunle Amosun for backing the consensus, describing their support as critical to building continuity and stability. It further praised aspirants such as Gboyega Nasir Isiaka and Abiodun Akinlade for stepping aside in the interest of party unity.

The statement highlighted growing endorsements from prominent figures, including Iyabo Obasanjo, Tunde Lemo and Kayode Amusan, noting that the convergence of political and technocratic support reinforces confidence in Adeola’s candidacy.

Beyond party politics, the group emphasised the historical significance of Adeola’s emergence for Ogun West Senatorial District, which has not produced a governor since the state’s creation more than five decades ago.

It described the development as a long-awaited restoration of equity and inclusion within the state’s power structure.

OGWPY also pointed to Adeola’s track record as Chairman of the Senate Committee on Appropriations, citing infrastructure projects, healthcare delivery and educational support initiatives across Ogun State as evidence of his capacity to lead.

It added that these achievements, coupled with the consensus backing, provide a credible pathway for accelerated development.

As preparations for the 2027 election gather momentum, political observers say the APC’s early consensus could prove decisive, transforming potential internal competition into a unified front and setting the stage for what may become a highly strategic and closely watched governorship race.

Nigeria Rejects Fresh IMF Loans Amid Push for Economic Reforms

Nigeria has ruled out any immediate plans to seek loans from the International Monetary Fund (IMF) or other multilateral financial institutions, according to the Minister of Finance and Coordinating Minister of the Economy, Wale Edun.

Edun made the position known on Thursday during the Finance Ministers’ press briefing at the ongoing IMF–World Bank Spring Meetings in Washington, D.C., stressing that the country is not currently considering new external borrowing from the IMF.

“Nigeria has no plans at the moment to approach the IMF or any other institution to borrow funds,” he said.

He explained that the decision reflects both fiscal strategy and broader concerns about the cost of borrowing, particularly the high interest rates faced by African economies in global financial markets.

According to him, elevated debt servicing costs are placing significant pressure on government revenues, limiting the ability of many countries to invest in critical sectors such as health, education, and infrastructure.

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“At the elevated interest rates that African countries pay, the premium on commercial debt is out of reason and contributes to debt distress,” Edun said, noting that a large portion of national revenue in many developing economies is now directed toward debt repayment.

He added that reducing borrowing costs across Africa would require stronger economic reforms, improved debt-to-GDP ratios, and increased use of technology to enhance efficiency and revenue generation.

Edun also reiterated President Bola Tinubu’s call for a review of the high risk premiums charged on African borrowing, arguing that fairer global financing terms would improve development outcomes across the continent.

As part of broader regional financial planning, Nigeria is also pushing ahead with efforts to host the African Monetary Institute, a key step toward deeper monetary cooperation and financial integration in Africa ahead of its planned rollout in 2026.

On global financial support, the minister urged the IMF to accelerate the disbursement of proposed assistance packages, including a suggested $50 billion support programme for economies affected by global conflicts and economic shocks.

He noted that many vulnerable economies, particularly in Africa, stand to benefit from such funding but stressed the importance of timely and large-scale disbursement.

Edun also highlighted Nigeria’s ongoing domestic reforms, including the removal of fuel subsidies, which he said previously consumed as much as 5 percent of GDP, as part of efforts to strengthen fiscal sustainability and reduce dependence on external borrowing.

He maintained that the government’s focus remains on stabilising the economy through reforms that improve revenue generation, reduce inefficiencies, and attract private sector investment rather than relying on new IMF facilities.

Nigeria Rejects Fresh IMF Loans Amid Push for Economic Reforms