The House of Representatives has begun the process of establishing a National Youth Service Corps Trust Fund to allow funding of the scheme from various sources.
The National Youth Service Corps Trust Fund (Establishment) Bill 2021 is currently awaiting passage at the House on Thursday.
The proposed fund is to “provide sustainable source of funds for the NYSC, skill acquisition training and provision of start-up capital to corps members, train and retrain the personnel of the NYSC, develop camps and the NYSC formations and provide facilities therein.”
It will also “improve the general welfare of corps members and personnel of the scheme and enhance their preparedness to effectively discharge their statutory duties of promoting national unity, integration, self-reliance and accelerated development of the national economy.”
The proposed law will, therefore, provide a legal framework for management and control of the special intervention fund established under Section 3 of the Act.
The bill partly read, “The Trust Fund established under Section 3 of this Act covers all corps members, personnel of the NYSC, orientation camps, formations, facilities and for the overall improvement and efficiency in the discharge of their duties and responsibilities.
“The Trust Fund is to operate concurrently with the National Youth Service Corps scheme from the commencement of the bill.”
The Fund would be financed with a levy of one per cent of the net profit of companies and organised private sector operating business in Nigeria; 0.2 per cent of total revenue accruing to the federation account; and any take off grant and special intervention fund as may be provided by the federal, state and local governments of the federation.
Other sources of fund include “such money as may be appropriated to meet the objective of this Act by the National Assembly in the budget; aids, grants and assistance from international bilateral and multilateral agencies, non-governmental organisations and the organised private sector.
The Director-General, NYSC, Brigadier General Shuaibu Ibrahim, had appeared before the House Committee on Youths Development on November 10, 2021, where he said inmates in the facilities of the Nigerian Correctional Service now feed better than members of the NYSC.
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