Reps move to set up NYSC Trust Fund as bill scales second reading

Reps move to set up NYSC Trust Fund as bill scales second reading

1/20/2022 6:31:00 PM

Reps move to set up NYSC Trust Fund as bill scales second reading

Private entities will be required to contribute one per cent of their profits to the fund if the bill becomes a law.

(NYSC) Trust Fund.The bill, sponsored by Mayowa Akinfolarin (APC, Ondo), seeks to compel all organised private entities to contribute one per cent of their net profit to the fund. In addition, 0.2 per cent of total revenue accruing to the federation account will fund the entity.

Leading the debate on the bill, Mr Akinfolarin said: “the trust fund will provide a sustainable source of funding for NYSC, skill acquisition training and provision of startup capital to corps members, train and retrain the personnel of the NYSC, develop camps, NYSC formations and provide facilities therein.”

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National Youth Service Corps (NYSC) Trust Fund. The bill, sponsored by Mayowa Akinfolarin (APC, Ondo), seeks to compel all organised private entities to contribute one per cent of their net profit to the fund. In addition, 0.2 per cent of total revenue accruing to the federation account will fund the entity. Leading the debate on the bill, Mr Akinfolarin said: “the trust fund will provide a sustainable source of funding for NYSC, skill acquisition training and provision of startup capital to corps members, train and retrain the personnel of the NYSC, develop camps, NYSC formations and provide facilities therein.” He added that the fund will also be used to fund the monthly allowances need of corps members, sponsor the community development service of the NYSC. This bill is coming amidst renewed call for the scrapping of the NYSC due to the general insecurity in the country, which has subjected corps members to risk. There is a bill before the House seeking to alter the 1999 constitution by scrapping the scheme. It is seeking to repeal section 315(5a) of the 1999 constitution and the National Youth Service Corps Act. The sponsor of the bill, Awaji-Inimbek Abiante (PDP, Rivers), cited insecurity, exploitation by places of primary assignment and poor state of orientation camps. The scheme was set in 1973 by the Yakubu Gowon administration as part of strategies to foster unity in the post-civil war era. It was established by Decree 24. However, the scheme has come under heavy criticism of late because of the deteriorating security situation in the country. In August, the Chairman Committee on Youth Development, Yemi Adaramodu, had during a visit to the FCT Orientation Camp on Kubwa, Abuja, said the scheme will not be scrapped, and expressed support and speedy passage of the trust fund bill when introduced. Director-General of the NYSC, Shuaibu Ibrahim, a brigadier general, has also been soliciting support for the fund. At the ceremony of the Fund’s 2021 Skills Acquisition and Entrepreneurship Development (SAED) festival in December, he said SAED will gain from the bill. He said: “I am confident that the gains of the SAED programme will be enhanced if the proposed National Youth Service Corps Trust Fund becomes a reality.” The bill was referred to the House Committee on Youths and Development for further legislative action.