The Bank of Industry (BOI) has unveiled a N2bn entrepreneurship programme aimed at providing affordable loans to National Youth Service Corps (NYSC) members across Nigeria, as part of efforts to tackle unemployment and promote youth-led enterprises.

The initiative known as the “N2bn BOI–NYSC Entrepreneurship Programme,” will enable serving corps members to access up to N5m each at a single-digit interest rate of nine per cent per annum, repayable over three years, with a three-month moratorium on both principal and interest.

Speaking at the launch on Wednesday in Abuja, the Executive Director for Micro, Small and Medium Enterprises (MSME) at BOI, Shekarau Omar, described the initiative as a practical intervention designed to “move young Nigerians from job-seekers to job-creators.”

Omar, who represented the Managing Director of the Bank, Dr. Olasupo Olusi, said 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 N1bn 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,” Omar said.

He commended the NYSC’s Skills Acquisition and Entrepreneurship Development (SAED) department for its ongoing efforts in training corps members to become self-reliant, noting that the new loan scheme would complement SAED’s objectives.

“To our corps members, your service year is a launch pad, not a waiting room,” Omar advised, adding, “Start small, plan well, and stay disciplined about cash flow and compliance. With creativity and determination, you can become the next generation of entrepreneurs shaping Nigeria’s future. (Daily Trust)