A Bill for an Act to establish a National Youth Service Corps Trust Fund, NYSCTF, has passed second reading in Nigeria’s House of Representatives.
The bill, which seeks to provide a sustainable source of funds for the NYSC, was sponsored by Rep. Akinfolarin Mayowa (APC-Ondo) at plenary on Thursday.
According to Mayowa, if passed and signed into law, the Bill would have an everlasting impact on job creation and empowerment of thousands of Nigerian youths.
Mayowa said: “the trust fund will provide a sustainable source of funding for NYSC, skill acquisition training and provision of startup capital to corps members, train and retrain the personnel of the NYSC, develop camps, NYSC formations and provide facilities therein.”
According to him, in the early years of the establishment of NYSC, the scheme was able to carry out its objectives under the National Youth Service Corps Act.
Speaking further, he said management of the scheme had not only trained, equipped and empowered corps members enrolled under the scheme, but had instilled patriotism and the spirit of nationalism in corps members.
He noted that introducing NYSCTF Bill would complement activities of the scheme and further help in promoting the spirit of self-reliance and entrepreneurship among the corps members through the Trust Fund.
“Corps members and supporting staff will be trained and introduced to various skills which will make them establish a self-sustained business after the mandatory service year.
“My colleagues and I have sincerely considered the significant role this bill will play if passed by this honourable house and assented to by President Muhammadu Buhari.
“It will reduce the negative impact of COVID-19 in our economy and provide job creation for our youths,” Mr Mayowa said.
He urged the Speaker and other lawmakers to support that the bill be read for the second time and referred to the relevant committee of the house for further legislative actions.
Mr Mayowa said the call had become imperative in view of the effort currently being made by the government to diversify the economy, and considering the passion and willingness of the house in reducing poverty.
The Speaker, House of Reps, Femi Gbajabiamila, referred the bill to the House committee on Youths and Development for further legislative action.
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