Wednesday, 22 February 2017


Chief Dr. Ifeanyi Ubah
An oil and shipping mogul, Chief Dr. Ifeanyi Ubah, has called for the review of National Youth Service Corp (NYSC) Scheme to become a job creating platform as against what the scheme offers now. He made this call while speaking at Nnamdi Azikiwe University, Awka on the 20th February 2017 at an event organized by Nigeria Economics Students Association (NESA),UNIZIK Chapter.  According to the Capital Oil boss, the call for the review of National Youth Service Corp (NYSC) Scheme became necessary in order to solve Nigerian employment crisis.

The publisher of The Authority Newspaper advocated for new direction with respect to the NYSC Scheme while speaking on the topic “Entrepreneurship and Nigerian Youths: Ifeanyi Ubah Experience and Lesson.” According to him, “NYSC is a scheme introduced by Federal Government as Interventionist Policy immediately after the civil war as an integration scheme and not for job creation. But now, the greatest crisis facing Nigeria is that of unemployment and the development calls for the review of NYSC Scheme to reflect job creation. The scheme founded in 70s is over 40years old and therefore begging for a review.”

The erstwhile Anambra State governorship candidate went on to analyze the proposed review of NYSC saying, “today, Federal Government pays each Corp member under NYSC Scheme N19,800 (Nineteen thousand Eight hundred naira ) per month and that gives us N237,600 per year and when you factor in other expenses that emanates from camping ,you will be having about N300,000  for each corp member per year. Federal Government Mobilizes 150,000 graduates every year for NYSC. Let's use 150,000 graduates here.

If in a year, Federal Government mobilizes 150,000 graduates for NYSC and spends around three hundred naira (N300,000) on each of them , this amounts to N45 Billion (Forty Five Billion Naira ) per annum. We can review the scheme and make our graduates go through various skill acquisition training upon graduation and N300,000 handed to them by Federal Government to establish the business that he or she might have learned . We can hand over this N300,000 to our graduates after they must have passed through one three weeks or say one month Entrepreneurship or skill acquisition training as a seed or startup capital.”

Chief Ubah further argued: “Yes, we can adjust the 12 months service year to three weeks or one month which will be used for the training of these graduates towards self reliance. What is the gain of spending N45 Billion on our graduates after which you push them to unemployment market? Is it not better we train them and hand each of them the N300,000? Some of them can even use their own seed money to go into cooperative groups among themselves towards setting up various businesses upon graduation and by so doing, we will be creating job creators instead of becoming job seekers."

The Ebube Chukwu Uzo challenged the students to redirect the conversation towards providing solutions to the challenges blighting the Nation as the country is faced with multiple economic shocks. “You must start raising agenda for the policy makers of this Nation. Creating solution is what makes an entrepreneur tick and you must rise to the occasion, especially now that our Nation faces multiple economic shocks," he said. “Good enough, there is hope because you are here today in this hall as stakeholders in this great search for solutions."

The petroleum products marketing magnate later called on the government to redirect its focus in creating enabling environment for entrepreneurship to thrive in Nigeria. “The truth is that government cannot do this alone and there is need for government at all levels to start creating enabling environment through public policies that will stimulate entrepreneurial growth in the country in order to forestall recurring economic crisis in the country,” he said.

Professor Nwogwugwu of Economics Department, University Nnamdi Azikiwe University toed the line of Dr. Patrick Ifeanyi Ubah when he told the students that they must start thinking as job creators. “You are here to learn how to solve problems facing our Nation and not to create one," he said.

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