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*Tasks Anti-graft Bodies To Monitor Implementation
Prominent pro-democracy and civil rights advocacy group: HUMAN RIGHTS WRITERS ASSOCIATION OF NIGERIA (HURIWA) has described two recent economic advancement initiatives of the current administration for the youths of Nigeria and staff of tertiary institutions as significant and impactful.
This, it said, will become a reality if transparency and accountability is allowed to be the governance templates of their implementation.
In the thinking of the civil Rights advocacy group: HUMAN RIGHTS WRITERS ASSOCIATION OF NIGERIA as espoused in a media statement endorsed by the National Coordinator Comrade Emmanuel Onwubiko, President Bola Ahmed Tinubu knowing that these two programmes are capable of economically advancing the welfare and wellbeing of the youth population and a large numbers of staff of higher educational institutions, should direct the EFCC and ICPC to set up monitoring desks to oversee and forensically monitor the implementation of these two economic development initiatives.
HURIWA recalled that in his Democracy Day address on June 12, President Bola Ahmed Tinubu made a promise that this July, the Federal Government would launch a credit initiative to impact 400,000 Nigerians – including youth corp member – with consumer credit.
The civil society organization HURIWA affirmed that it is worthwile to applaud the government for ensuring that the promise of the President comes to life at the weekend with the official launch of YouthCred, a national initiative under the Nigerian Consumer Credit Corporation (CREDICORP), aimed at empowering young Nigerians with responsible access to credit—starting with NYSC Corps members.
The Civil Rights advocacy Group quoting a media statement from the federal ministry of Youth development stated that government asserted that the launch follows the successful Strategic Planning & Debriefing Session of NYSC State Coordinators, where CREDICORP formally signed an MOU with the National Youth Service Corps and trained NYSC officers across all 36 states on the YouthCred platform. This marks a critical institutional alignment between both agencies to deliver credit, not just as financing, but as a tool for economic transformation.
Also, HURIWA cited the government's media release as stated as follows: "YouthCred is more than a loan program; it is a deliberate act of cultural re-orientation. For decades, credit in Nigeria has been misunderstood, misused, or completely out of reach for young people. This initiative changes that. By combining credit education with structured and affordable access to financing, YouthCred is equipping a new generation to understand credit, use it wisely, and begin building a credit history from an early age. The platform is now live at www.youthcred.com.
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"The first phase of the initiative targets members of the National Youth Service Corps, who will be required to complete a short digital credit education program before they can access tailored loans for personal and productive needs—whether it’s to relocate, purchase a device, finance training, or fund a small business. For the first time, young Nigerians will not only be able to access credit—they’ll understand how to manage it, repay it, and build trust with the financial system."
Besides, the government disclosed in the media statement sighted by HURIWA as disclosing that : "with the launch now live for Corps members, the next phase of YouthCred will extend to employed youth, giving entry-level professionals the opportunity to access credit that matches their realities and supports their aspirations. This will be followed by youth-led enterprises, where young entrepreneurs can access the financing they need to grow their ventures and contribute meaningfully to the economy.
The Rights group noted that with a youth unemployment statistical data that is considerably high at 7.2 percent in the second quarter of 2023, the government should be commended for the efforts to economically empower the youths but the group immediately observed that the country is not seriously lacking in good projects on paper, but emphasized that what is of paramount importance is for the government to adopt the best global practices and put in place a clean governance structure that would compel the agencies responsible for executing these projects to carry them through to their logical conclusions to empower the targeted youths population. HURIWA recommended that government officials who obstruct the smooth implementation of these pro-poor economic empowerment initiatives for the youth population and staff of higher educational institutions in the country, should be prosecuted efficiently by the anti-corruption agencies and blacklisted as economic saboteurs whose names should be on the National criminals's data.
HURIWA also called on the organised civil society organizations to form coalitions to effectively observe the implementation of the initiative and also the loan scheme being introduced for staff of tertiary institutions which HURIWA advocated should rather be coverted to credit scheme rather than loan scheme which is characterised by high interest rates.
HURIWA citing published official information, stated that the Federal Government has launched the Tertiary Institution Staff Support Fund (TISSF), a loan scheme that provides eligible tertiary institution staff with up to ₦10 million to support their welfare and development.
The initiative, unveiled during a high-level stakeholder engagement session held in Abuja, aims to promote financial stability, improve quality of life, and support career advancement for staff across Nigeria’s tertiary institutions.
Director, Press and Public Relations, Federal Ministry of Education, Folasade Boriowo, made the revelation in a statement on Sunday in Abuja.
The statement noted that the scheme was designed to enhance the welfare and professional development of academic and non-academic staff in universities, polytechnics, and colleges of education.
“Each academic and non-academic staff member is eligible to receive up to ₦10 million, capped at 33.3% of their gross annual salary. Each eligible staff’s uses include transportation, medical support, and micro-enterprise ventures such as poultry farming,” the statement explained.
It quoted the Minister of Education, Dr. Maruf Alausa, as stating that the Fund is part of the administration’s broader effort to reposition the tertiary education sector in alignment with President Bola Tinubu’s Renewed Hope Agenda.
HURIWA which applauded the initiative, however asked the federal government to convert it to a credit awarding scheme with minimal interest rate rather than as a loan package which it observed mifht need to be be serviced with the prevailing interest rate authorised by the Central Bank of Nigeria just as the Rights group demanded that the beneficiaries shouldn't be made to see it just as an initiative to boost their welfare but they should think of investing the money in profitable ventures which they can run at their free periods.
The Rights group recalled that last year, the Academic Staff Union of Universities (ASUU), Abuja zone, had disclosed the death of some of its members due to economic hardship alongside poor remuneration of academics and unfavourable working conditions.
The 1st zonal coordinator, ASUU, Abuja zone, Salahu Muhammed made this known while briefing newsmen in Abuja on Monday.
Muhammad said no fewer than 46 academics lost their lives in universities under the Abuja zone.
They are the University of Abuja, Federal University of Technology, Minna, Federal University, Lafia, Nasarawa State University, Nasarawa, and the Ibrahim Babangida University, Lapai.
He said that the union recently lost an eminent Professor of Fisheries, Johnson Oyero, of the Federal University of Technology, Minna, due to inability to afford quality medical facilities.
HURIWA therefore thinks that if the credit or loan scheme for staff of tertiary institutions is adequately implemented with good governance safeguard, there is the practical possibility that the dwindling economic status of staff of higher educational institutions could be transformed for the better.