The World Bank is exploring a collaboration with the National Youth Service Corps (NYSC) to address youth unemployment and foster entrepreneurial growth in Nigeria. This was revealed by the World Bank’s Country Director, Ndiame Diop, during a visit to the NYSC headquarters in Abuja.
Diop commended the NYSC for its pivotal role in national development over its 51-year history. He highlighted the impact of Corps Members in transforming rural areas, promoting socio-economic growth, and contributing to public health through campaigns to reduce infant and maternal mortality.
NYSC Director-General, Brigadier General Y.D. Ahmed, emphasized the scheme’s commitment to youth empowerment through its Skills Acquisition and Entrepreneurship Development (SAED) program. Since its inception in 2012, over 2 million Corps Members have received vocational training, with 600,000 establishing thriving businesses nationwide.
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Ahmed also acknowledged partnerships with organizations like the Central Bank of Nigeria (CBN), Bank of Industry (BoI), and Access Bank, which provide loans to support Corps Members in starting businesses. However, he noted challenges, including inadequate training facilities and limited access to start-up capital.
“If the World Bank partners with us, we can scale our efforts to reduce youth unemployment and empower more young entrepreneurs,” Ahmed stated.
This potential partnership underscores the shared commitment of NYSC and the World Bank to driving economic growth and fostering entrepreneurial innovation among Nigeria’s youth.
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