BOI Announce N2b Empowerment Scheme for Youth Corps Members
The Bank of Industry (BOI) has announced the launch of a groundbreaking ₦2 billion empowerment scheme aimed at supporting Nigerian youth participating in the National Youth Service Corps (NYSC) program. The initiative, designed to stimulate innovation and self-employment among corps members, is part of BOI’s continued effort to reduce youth unemployment and strengthen Nigeria’s entrepreneurship ecosystem.
Under BOI–NYSC Empowerment Scheme, the program focuses on providing soft loans and financial support to corps members who showcase dynamic entrepreneurial ideas during their one-year service. The scheme is in line with the vision of the federal government for greater economic growth through youth empowerment, enterprise development, and job creation.
Speaking on the official unveiling, BOI Managing Director and Chief Executive Officer, Dr. Olasupo Olusi, reiterated that the project is evidence of the bank’s steady commitment to growing a generation of self-reliant young Nigerians. According to him, the ₦2 billion loan facility will be provided for corps members with viable business proposals across such sectors as agriculture, manufacturing, technology, creative industry, fashion, and renewable energy.
Dr. Olusi noted that entrepreneurship remains the best means of addressing unemployment and poverty in Nigeria. He said the partnership between the BOI and NYSC will be used to assist corps members in shaping their ideas into successful ventures, hence channeling the energy and potential of Nigerian youths into nation-building.
Under the initiative, all corps members who participate will undergo a rigorous selection process that includes business plan assessment, capacity development training, and mentorship programs aimed at building business management and financial literacy skills. Successful applicants will then be supported at competitive interest rates with flexible repayment periods to cater to early-stage entrepreneurs’ needs.
NYSC Director-General Brigadier General Yusha’u Ahmed commended BOI for having the vision of empowering young Nigerians to become employers of labor rather than job seekers. He reaffirmed the NYSC desire to collaborate with the bank towards identifying and training prospective corps members whose ideas could be leveraged for national development.
The BOI, over the past few years, has launched a number of intervention programs and funds that target the empowerment of youth, SMEs, and women-owned enterprises. The latest ₦2 billion initiative further enhances the bank’s reputation as being a leading force behind Nigeria’s entrepreneurial and industrial growth.
Through this program, BOI is hopeful that all corps members graduate from the NYSC program with the skills, capital, and confidence to build successful businesses. It is not just a lending facility—it’s an investment in the nation’s most important resource: its youth.
