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Corp Members to Receive N2 Million after Youth Service

Are you a corp member with a wonderful business idea? Or do you have a great business plan but don't know where to get the start-up capital for your business? Do you wish to be self-employed after graduating from the university? In one of my previous article here on myschoolbam.com, I discussed and list out some creative ways to make money as a college student while in school.

N2 million loan for nysc corp members

As a student, creative thinking and learning how to study hard in school makes you a better person in the society when you graduate from the university. We go to school to learn not only academics but creative ways to help us build our society into a better place.

Most university graduates have always nursed the idea of been self-employed even before graduating from school but don't seem to have the capital to start and manage their business. Now the Federal Government of Nigeria is planning to set up a programme that will turn the fortune around. This is good news to youth corp members who will be serving as from next year.

The Federal Government of Nigeria are currently discussing on the idea of supporting graduates who are through with their mandatory National Youths Service with a sum of N2 million start-up capital to start a business. This great idea was revealed by Emmanuel Attah a Coordinator of NYSC in Osun State at the Skills Acquisition and Entrepreneurial Development (SAED) held at the NYSC orientation camp situated in Ede, Osun State.

Attah said the loans will be given only to interested corp members who have undergone the SAED programme only and it would be in collaboration with Small and Medium Enterprises Development Agency of Nigeria, the Central Bank of Nigeria and the Bank of Industry whom will all be working together to make sure the loans are disbursed to each members accordingly.

Capital loans will be given out to interested corp members between N200,000 to N2,000,000 according to the weight of your business proposal. This will only be available after completion of their mandatory nysc programme. I think this is a welcome development to graduates who have a bright business plan but lack the capital to start their business.

Also Read: Best courses for art students in Nigerian universities.

According to Attah, no interest rate will be attached to the loan but all beneficiaries who apply for the loans will have to submit their NYSC discharged certificate to be used as collateral. The discharged certificate will be return to the applicants once the loan is been paid in full. There is no time limit for the return payment of the loan and no hidden charges as processing fee or any other fee attached. Once your nysc discharged certificate is submitted as collateral, you will only get it back when you have return your loan amount in full.

This development was organized by SAED a Federal Government programme to reduce the rate of unemployment and poverty among graduates who always end up roaming the streets looking for white-collar jobs that doesn't exist. This Skill acquisition programme seeks to empower interested corp members to be self-employed and employers of labour after their service year instead of depending on white collar jobs to be provided by the government.

So prospective corp members are hereby advised to start developing business plans and bringing up business ideas that will make them succeed in life and be self-depended before going through service. This will help reduce criminality and nuisance behavior in the community because they will find something useful to do with their life.

I hope this is a welcome development from our government once again. If this programme is effectively put in place and move smoothly, the youth will gradually be eliminated from poverty.

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