NYSC DG says the scheme through its revenue channels, generated and remitted N511m operating surplus into Federation Account this year
By Kehinde Okeowo
The Director-General, National Youth Service Corps (NYSC), Brigadier General Ibrahim Shuaibu, said that the Scheme remitted the sum of N511m operating surplus into the Federation Account this year.
Shuaibu made this known while briefing journalists in Abuja today.
According to him, the N511m operating surplus of the NYSC this year was generated from five major sources of revenue and it is higher than the N231m remitted last year.
The sources were the NYSC garment factories in Anambra and Niger states as well as the bakery and table water factories in Abuja.
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Others included revenue from film productions and national troupe bookings and performances.
“From these ventures, we generated over N280 million in 2020, which we paid into the federation account. For 2021, we have generated N511 million which we will also pay to the federation account. This is our contribution to the national economy,” he said.
The NYSC DG expressed optimism that the organization would continue to boost its revenue generation to improve the fiscal space for national spending.
He also stated that rather than being dependent on the federal government he introduced the internal reform, to help in augmenting funds from the federal government.
He added that they are determined to continue or even improve on this target, but urged Nigerians to support the corps members.
He said, “When I took over affairs in 2017, I said we will not continue to be a beggar agency depending on the government for 100 percent of its finance. That is why we introduced so many initiatives. We are determined to tap the potentials of our corps members. So, we want the support of all Nigerians to take care of them and feel concerned for their welfare.”