News

Reps Consider NYSC Trust Fund For Corps

Published

4 hours ago

Nov 13, 2024.

The House of Representatives is set to debate a bill aiming to establish a sustainable funding source for the National Youth Service Corps (NYSC), intended to enhance corps members’ training and empowerment initiatives.

The proposed legislation, titled “The NYSC Trust Fund (Establishment) Bill 2024,” was recently read in the House and is sponsored by the representative of the Nasarawa/Toro Federal Constituency.

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EKO HOT BLOG reports that the bill’s primary goal is to create a legal framework for managing a dedicated fund to support the NYSC’s skills acquisition, training, and empowerment programs for corps members.

According to Section 2(1) of the bill, the Trust Fund will support NYSC personnel, orientation camps, and overall improvements in service delivery.It proposes financing through 0.2% of revenue from the Consolidated Revenue Fund, government grants, donations, and contributions from international agencies, NGOs, and the private sector. Funds may also be generated from investments made by the Trust Fund.

NYSC Trust Fund

Section 5(1) outlines that the Fund will be allocated for skill acquisition, retraining of NYSC staff, purchasing instructional materials, and expanding NYSC ventures. Additionally, it will finance equipment and facilities required for corps members’ orientation and training.

The bill proposes a Board of Trustees to oversee fund administration, including members from the NYSC, Federal Ministries of Youth Development and Finance, the Nigeria Governors’ Forum, and local government representatives. The board will regulate fund disbursement, approve projects, and implement policies for corps members’ development and NYSC operational needs.

In line with Section 13(1), the board is authorized to award contracts and identify funding needs for NYSC programs, ensuring efficient management of resources aimed at enhancing the effectiveness of the NYSC scheme.