On October 8, 2025, the Bank of Industry (BOI) unveiled a N2 billion BOI-NYSC entrepreneurship program in Abuja.
It offers serving National Youth Service Corps (NYSC) members loans up to N5 million at 9% interest, repayable over three years with a three-month moratorium.
Empowering Young Entrepreneurs
Shekarau Omar, BOI’s Executive Director, represented Managing Director Olasupo Olusi. “This shifts corps members from job seekers to creators,” he said.
Thus, the program aims to curb Nigeria’s high youth unemployment.
Building on Past Success
The BOI-NYSC partnership began with the 2012 SAED initiative, followed by the 2015 Graduate Entrepreneurship Fund.
That fund trained 3,000 graduates, financed 609 ventures, and disbursed over N1 billion, launching farms, tech startups, and more.
Real Impact Highlighted
“These are real businesses poultry, fashion, creative studios,” Omar noted. “With training and finance, youth create jobs and thrive.”
He urged corps members to seize this BOI-NYSC entrepreneurship opportunity as a launchpad.
NYSC’s Vision for Youth
NYSC Director-General Brigadier-General Olakunle Nafiu called the program a vital investment. “Ignoring youth risks instability,” he said.
The initiative equips 400,000 annual corps members for entrepreneurship or professional roles.
Strengthening SAED Goals
Nafiu highlighted the SAED program’s evolution since 2012. “We’re building livelihoods, not just skills,” he said.
He proposed expanding the fund to N5 billion to reach more beneficiaries, boosting the BOI-NYSC entrepreneurship impact.
Call for Public Support
Omar stressed monitoring for transparency. Success will be measured by loan approvals, jobs created, and thriving businesses.
Nafiu urged collaboration to unlock Nigeria’s entrepreneurial potential, fostering economic resilience.
Addressing Unemployment Crisis
Nigeria’s youth unemployment, over 60% of the jobless population, drives this initiative.
The BOI-NYSC entrepreneurship program combines affordable loans with training to create sustainable businesses and reduce economic strain.
Future Outlook
The program signals confidence in Nigeria’s youth. “These are future business leaders,” Nafiu said. With robust oversight, it aims to transform lives and strengthen Nigeria’s economy through youth-led innovation.
Path to Prosperity
By empowering corps members, the BOI-NYSC entrepreneurship program tackles unemployment head-on.
It fosters self-reliance, ensuring graduates leave service ready to shape Nigeria’s future with thriving enterprises.
