• NYSC members at a public forum
The Bank of Industry (BOI) has launched a special loan scheme known as the “N2 billion BOI–NYSC Entrepreneurship Programme,” for National Youth Service Corps (NYSC) members as part of efforts to tackle unemployment and promote youth-led enterprises.
During the launch of the loan in Abuja, yesterday, the BOI’s Managing Director, Dr Olasupo Olusi, said that the initiative, would enable serving corps members to access up to N5 million each at a single-digit interest rate of nine percent per annum, repayable over three years, with a three-month moratorium on both principal and interest.
Represented by the Executive Director for Micro, Small and Medium Enterprises (MSME), Shekarau Omar, described the project as a practical intervention to “move young Nigerians from job-seekers to job-creators.”
He emphasised that the partnership between BOI and NYSC builds on previous collaborations such as the Graduate Entrepreneurship Fund (GEF), first launched in 2015, which trained over 3,000 graduates, financed 609 businesses, and disbursed more than N1 billion in loans.
“These numbers are not just statistics; they represent poultry farms, fashion houses, salons, tech start-ups, and creative studios brought to life.
“The core lesson is clear: when young people receive targeted capacity building, affordable finance, and mentoring, they repay, they employ, and they grow,” he added.
