The Bank of Industry, BoI and the National Youth Service Corps, NYSC, has signed a Memorandum of Understanding, MoU on entrepreneurial development for the Nigerian youths.
The pact enables BoI to train and empower corps members in various entrepreneurial skills and give them collateral-free loan as capital and expansion of business initiatives.
Managing Director, BOI, Ms. Eveyln Oputu at the signing of the MoU with the Director General of the scheme, Brigadier General Johnson Olawunmi in Abuja, said Nigerian youths are extremely talented and deserve to be supported.
She expressed the optimism that the acquisition of skills and provision of loan to help the youths start up their own business would reduce the craze for white collar jobs and build them to be self-reliance.
The BoI boss stated that the idea behind the collaboration with NYSC on Skill Acquisition & Entrepreneurship Development, SAED, was borne out of unemployment challenges they face when they complete their youth service programme. > > According to her, the partnership would cut across various disciplines such as learning an entrepreneurial trade skill, engineering skills for those who are not good in trading skills as well as sports among other disciplines.
Oputu said: "We will train them [corps members] in skill acquisition. We know that not everybody has the ability to learn entrepreneurial skills, some have the skills to do business, some are good in engineering and they can transform the rural areas in our country because they can help to transform the roads, also those in sports can train children in sports. Bank of Industry is trying to collaborate with people to do a football academy and basketball.
"What we are doing is going to be more on the rural communities. We are ready to support passionate and determined Nigerian youths." > She said the synergy that would arise from the collaboration would transform the society.
Responding, Brigadier General Olawunmi said the partnership would help to build confidence in the youths of this country.
He said the union between NYSC and the BoI had further helped to develop two out of the mandate of the NYSC which were to instill the spirit of self -reliance in the Corps members and to ginger them towards contributing their quota to the growth of the national economy.
Also speaking at the event, Director, Skills Acquisition and Entrepreneurial Development (SAED), NYSC, Mrs. Mary Danabia said NYSC couldn't confidently boost to have supported up to one percent of the 245,00 corps that have been trained since the inception of SAED programme two years ago due to lack of fund.
On that note, Danabia commended the Bank of Industry for formalising and strengthening the partnership which began about 10 months back.