By Ayomide Otitoju
The Managing Director of NNPC Foundation, Mrs. Emmanuella Arukwe, has highlighted the benefits of the NNPC-NYSC Empowerment Programme during an address to corps members at the NYSC Orientation Camp in Abuja. The initiative, a collaboration between the NNPC Foundation and the National Youth Service Corps (NYSC), is designed to combat Nigeria’s unemployment crisis through entrepreneurship and financial literacy.
Unemployment remains a pressing issue in Nigeria, with the Nigerian Bureau of Statistics (NBS) reporting a 5.3% unemployment rate in Q1 2024, which saw a slight improvement to 4.3% in Q2. In response, the NNPC Foundation—a subsidiary of the Nigerian National Petroleum Company Limited (NNPC Ltd.)—has intensified its efforts to empower young graduates through targeted entrepreneurial support and skill development.
The NYSC Empowerment Programme is a national initiative aimed at equipping corps members with essential financial management skills. Speaking at the Abuja camp, Mrs. Arukwe emphasized the importance of financial literacy in ensuring the success of entrepreneurial ventures. “By educating corps members on financial management and entrepreneurship, the program empowers them to become economically self-sufficient and to contribute positively to society,” she stated.
The programme, implemented across all 37 NYSC Orientation Camps in Nigeria, has already impacted over 560,065 corps members in 2024. It incorporates comprehensive financial literacy training to help participants effectively manage their resources, make informed investments, and establish sustainable businesses.
To further support aspiring entrepreneurs, the NNPC Foundation includes a Business Pitching Exercise in the programme. Corps members with innovative business ideas are guided through developing actionable business plans, which are assessed based on market relevance, innovation, scalability, competitive advantage, and community impact. Mrs. Arukwe explained that standout projects receive startup support, including business advisory services, startup packs, and opportunities for growth.
In 2024, 2,659 corps members participated in the pitching exercise, showcasing their entrepreneurial potential. Additionally, the NNPC Foundation facilitated a 50% reduction in business registration fees with the Corporate Affairs Commission (CAC) for selected corps members, providing them with a smoother transition into business ownership.
The initiative has garnered widespread acclaim, with recognition from the Institute for Humanitarian Studies and Social Development (IHSD) and the United Nations Institute for Training and Research (UNITAR). The NNPC Foundation’s contributions to youth empowerment earned it the Award for Humanitarian Excellence in Service.
Through its innovative approach, the NNPC Foundation is empowering Nigeria’s youth to become economic drivers and job creators. By combining financial literacy, entrepreneurial training, and business support, the programme lays a solid foundation for sustainable economic growth and transformation.
