MD, NNPC Foundation, Mrs. Emmanuella Arukwe, addressing Youth Corps members on the advantages of the NNPC-NYSC empowerment programme at the Orientation Camp in Abuja.
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NNPC Foundation Empowers Youths With Entrepreneurial, Financial Literacy Skills
. Impacts 560,065 NYSC Members In 2024
By Sulaimon Salau
Determined to reduce the scourge of unemployment in the country, particularly among the youths, the NNPC Foundation has empowered no fewer than 560,065 Corps members in 2024.
The foundation, a subsidiary of Nigerian National Petroleum Company Limited (NNPC) is dedicated to carrying out the company’s social responsibility programmes in a more focused manner, hence the intervention in entrepreneurial empowerment programmes aimed at addressing the root of the unemployment challenge, especially at the graduate level.
Latest report by the Nigerian Bureau of Statistic (NBS), had put the unemployment rate in the first quarter of 2024 at 5.3% with a marginal one percent improvement to 4.3% in the second quarter.
However, NNPC Foundation believed that this could be addressed when the youths are duly empowered with entrepreneurial and financial literacy skills.
MD, NNPC Foundation, Mrs. Emmanuella Arukwe, addressing Youth Corps members on the advantages of the NNPC-NYSC empowerment programme at the Orientation Camp in Abuja.
Working in partnership with the National Youth Services Corps (NYSC), the NNPC Foundation has created a training/empowerment module targeted at young graduates mobilised for the compulsory national youth service.
Across the 37 NYSC Orientation Camps in the country, interested corps members signed up for the module and are equipped with financial literacy skills to enable them manage and invest their money effectively and function as entrepreneurs.
In 2024, a total of 560,065 NYSC members are estimated to have benefited from the programme.
Speaking on the objective of the programme, the Managing Director of NNPC Foundation, Mrs. Emmanuella Arukwe, said: “By educating corps members on financial management and entrepreneurship, the programme aims to empower them to become economically self-sufficient and to contribute positively to society,”
According to her, “The NNPC Foundation’s NYSC Empowerment Programme goes beyond just equipping corps members with financial literacy skills. Incorporated within the programme is Business Pitching Exercise. This is targeted at those corps members who exhibit keener interest and higher aptitude in pursuing establishing their own businesses and pursuing an entrepreneurial path.
“Under this programme, interested corps members are further trained to hone their skills in developing business ideas into a business plan which they would pitch before a selected panel of assessors to determine winners based on market relevance, competitive edge and innovation, scalability, potential impact on the community.
“During the pitching exercise, projects that standout will receive startup packs, business advisory services, and opportunities to scale their ventures,” Arukwe explained.
Some of the beneficiaries.
No fewer than 2,659 corps members across the country also participated in the NNPC Foundation Pitching Exercise in the outgoing year.
The foundation also facilitated a 50% reduction in the registration fees for some of the corps members to register their businesses with the Corporate Affairs Commission (CAC) thereby starting them off on their entrepreneurial journey.
The efforts of the Foundation in providing humanitarian services across the country and driving youth empowerment have attracted accolades from the Institute for Humanitarian Studies and Social Development (IHSD) and the United Nations Institute for Training and Research (UNITAR), culminating in the Award for Humanitarian Excellence in Service.
Prior to its transformation into a limited liability company under the PIA 2021, NNPC, as a responsible corporate organisation had been involved in a series of entrepreneurial empowerment programmes through its various subsidiaries in the form of host-community CSR programmes. With the transformation into a limited liability company, the NNPC Foundation was established to carry out the company’s social responsibility programmes in a more focused manner. The intervention in the entrepreneurial empowerment programme was retooled to address the root of the unemployment challenge, especially at the graduate level.
This gave birth to the NYSC Empowerment Programme which is designed to upscale NNPC Ltd.’s intervention to the national level while at the same time addressing the factor of financial illiteracy which has been identified as the reason for the low level of success in the various interventions.
The wisdom in incorporating financial literacy into the youth empowerment programme by the NNPC Foundation lies in the fact that one requires a dose of it to be able to establish and successfully run a business.
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MD, NNPC Foundation, Mrs. Emmanuella Arukwe, addressing Youth Corps members on the advantages of the NNPC-NYSC empowerment programme at the Orientation Camp in Abuja.
- Advertisement -
NNPC Foundation Empowers Youths With Entrepreneurial, Financial Literacy Skills
. Impacts 560,065 NYSC Members In 2024
By Sulaimon Salau
Determined to reduce the scourge of unemployment in the country, particularly among the youths, the NNPC Foundation has empowered no fewer than 560,065 Corps members in 2024.
The foundation, a subsidiary of Nigerian National Petroleum Company Limited (NNPC) is dedicated to carrying out the company’s social responsibility programmes in a more focused manner, hence the intervention in entrepreneurial empowerment programmes aimed at addressing the root of the unemployment challenge, especially at the graduate level.
Latest report by the Nigerian Bureau of Statistic (NBS), had put the unemployment rate in the first quarter of 2024 at 5.3% with a marginal one percent improvement to 4.3% in the second quarter.
However, NNPC Foundation believed that this could be addressed when the youths are duly empowered with entrepreneurial and financial literacy skills.
MD, NNPC Foundation, Mrs. Emmanuella Arukwe, addressing Youth Corps members on the advantages of the NNPC-NYSC empowerment programme at the Orientation Camp in Abuja.
Working in partnership with the National Youth Services Corps (NYSC), the NNPC Foundation has created a training/empowerment module targeted at young graduates mobilised for the compulsory national youth service.
Across the 37 NYSC Orientation Camps in the country, interested corps members signed up for the module and are equipped with financial literacy skills to enable them manage and invest their money effectively and function as entrepreneurs.
In 2024, a total of 560,065 NYSC members are estimated to have benefited from the programme.
Speaking on the objective of the programme, the Managing Director of NNPC Foundation, Mrs. Emmanuella Arukwe, said: “By educating corps members on financial management and entrepreneurship, the programme aims to empower them to become economically self-sufficient and to contribute positively to society,”
According to her, “The NNPC Foundation’s NYSC Empowerment Programme goes beyond just equipping corps members with financial literacy skills. Incorporated within the programme is Business Pitching Exercise. This is targeted at those corps members who exhibit keener interest and higher aptitude in pursuing establishing their own businesses and pursuing an entrepreneurial path.
“Under this programme, interested corps members are further trained to hone their skills in developing business ideas into a business plan which they would pitch before a selected panel of assessors to determine winners based on market relevance, competitive edge and innovation, scalability, potential impact on the community.
“During the pitching exercise, projects that standout will receive startup packs, business advisory services, and opportunities to scale their ventures,” Arukwe explained.
Some of the beneficiaries.
No fewer than 2,659 corps members across the country also participated in the NNPC Foundation Pitching Exercise in the outgoing year.
The foundation also facilitated a 50% reduction in the registration fees for some of the corps members to register their businesses with the Corporate Affairs Commission (CAC) thereby starting them off on their entrepreneurial journey.
The efforts of the Foundation in providing humanitarian services across the country and driving youth empowerment have attracted accolades from the Institute for Humanitarian Studies and Social Development (IHSD) and the United Nations Institute for Training and Research (UNITAR), culminating in the Award for Humanitarian Excellence in Service.
Prior to its transformation into a limited liability company under the PIA 2021, NNPC, as a responsible corporate organisation had been involved in a series of entrepreneurial empowerment programmes through its various subsidiaries in the form of host-community CSR programmes. With the transformation into a limited liability company, the NNPC Foundation was established to carry out the company’s social responsibility programmes in a more focused manner. The intervention in the entrepreneurial empowerment programme was retooled to address the root of the unemployment challenge, especially at the graduate level.
This gave birth to the NYSC Empowerment Programme which is designed to upscale NNPC Ltd.’s intervention to the national level while at the same time addressing the factor of financial illiteracy which has been identified as the reason for the low level of success in the various interventions.
The wisdom in incorporating financial literacy into the youth empowerment programme by the NNPC Foundation lies in the fact that one requires a dose of it to be able to establish and successfully run a business.
