The Senate, Tuesday, passed for concurrence, the National Youth Service Corps Trust Fund Bill 2022.
Also passed were three other bills to establish the Institute of Credit Administration; Federal University of Agriculture and Entrepreneurship Saki; and Repeal and Re-enact the Pharmacy Council of Nigeria Act.
This was contained in a statement signed by the Special Assistant (Press) To President of the Senate, Dr. Ezrel Tabiowo on Tuesday, June 21, 2022.
According to Tabiowo, the bills were sponsored by the Deputy Senate Leader, Ajayi Boroffice (APC, Ondo North).
He added that the four bills for concurrence, from the House of Representatives, were all passed by the upper chamber, after a clause-by-clause consideration by the Committee of the Whole.
The NYSC Trust Fund was the initiative of the 18th Director-General of NYSC, Major General Shuaibu Ibrahim.
He said the Trust Fund if actualised, would help to reinvigorate the NYSC Skill Acquisition and Entrepreneurship Development programme.
He also said it would empower more Corps Members with start-up capitals for their business initiatives at the end of their service year, which in turn would lift millions of Nigerians out of poverty, given the fact that the businesses to be established will employ millions of Nigerians, thereby taking them off the labour market.
General lbrahim said the Fund would address the infrastructural deficit in the Scheme, such as the upgrade of facilities at the NYSC Orientation Camps; training and retraining of personnel, among others.
Similarly, his successor, Brigadier General Muhammad Kaku Fadah has said the NYSC Trust Fund, when actualised, will boost the scope of the NYSC Skill Acquisition and Entrepreneurship Development programme and also empower more Corps Members to establish their vocational businesses.
He added that the trust fund will reduce unemployment among graduate youths.