NYSC urges corps members to save, build income beyond monthly allowance

The Director-General of the National Youth Service Corps (NYSC), Brig.-Gen. Olakunle Nafiu, has advised corps members to cultivate a savings culture and develop alternative sources of income beyond their monthly allowance.

 

Nafiu gave the advice on Wednesday during the News Agency of Nigeria (NAN) Forum in Abuja ahead of the 53rd anniversary of the NYSC, scheduled for May 22.

 

He said the NYSC Skill Acquisition and Entrepreneurship Development (SAED) programme remains a key platform for promoting financial discipline, entrepreneurship and self-reliance among corps members.

 

“We encourage them to save and think beyond monthly allowance. If you cannot save from N77,000, even if you are paid N300,000, you may still struggle to save,” he said.

 

The NYSC boss noted that the scheme has continued to expose corps members to entrepreneurship, small business development and opportunities within the digital economy, including remote jobs and online services for foreign organisations.

 

“The government anywhere in the world is not the highest employer of labour. It is small businesses and private enterprises that drive employment and economic growth,” Nafiu said.

 

According to him, over one million corps members have been documented with the Corporate Affairs Commission through NYSC-backed initiatives designed to encourage entrepreneurship and formal business registration.

 

He also disclosed that the NYSC recently signed a Memorandum of Understanding with the Enterprise Development Centre of Pan-Atlantic University to digitise entrepreneurship training for corps members nationwide.

 

The initiative, he explained, would allow corps members to access online business training regardless of their places of primary assignment.

 

Nafiu further said NYSC Ventures has expanded operations through investments in sectors such as agriculture and manufacturing.

 

“We have farms, bakeries and water factories where corps members acquire practical experience. Even if they do not continue those businesses later, they leave with valuable entrepreneurial and management skills,” he said.

 

He encouraged corps members to explore opportunities in the digital economy, noting that many young Nigerians now earn legitimate incomes remotely through services such as data entry and online support roles.

 

“Not all young people doing well are involved in internet fraud. Sometimes it is simply about ideas and awareness, and that is what we are exposing corps members to,” he added.

 

The director-general also said the proposed NYSC Trust Fund would help strengthen entrepreneurship training, ICT infrastructure, staff development and support for corps members seeking to establish businesses after completing national service.