News

NNPC Foundation Train Youths Corps Members on Financial Literacy

Published

3 years ago

November 10, 2023

In its bid to build the capacity of youth towards making them employers of labour, the NNPC Foundation, in partnership with Kudimata Nigeria Limited, a financial education outfit, have trained the Batch C members of the National Youth Service Corps (NYSC) in basic financial literacy skills.

The training, which aligned with the objectives of Skills Acquisition and Entrepreneurship Development (SAED) scheme of NYSC had its maiden edition featuring Batch B stream in the past months. So far over 118,000 youth corps
members have been trained in financial literacy, while about 70,000 are being trained across the 37 NYSC orientation camps in the country.

Speaking during the training, the Managing Director, NNPC Foundation, Emmanuella Arukwe described financial literacy as not only the bedrock of all successes in the ever-competitive labour market, but a journey towards attaining
self-actualization, thereby heralding the trajectory to sustainable prosperity of the nation.

Arukwe, who implored the corps members to leverage on the knowledge garnered from the training to avert white collar job syndrome, added that the NNPC Foundation is committed to impacting the youth corps to become
employers of labour.

“We are partnering with both NYSC and Kudimata to bring financial literacy to the corps members, as this will help them make a better-informed decision.

We are very passionate about young people and NYSC is a veritable ground as it cuts
across 20 to 30 years old youth, thus, making it the right demography,” she stated.

According to her, “this programme cuts across the 36 states of the country including the Federal Capital Territory (FCT). This is the first step towards a series of programmes that will culminate in instilling entrepreneurship in the Corps members. After this training, those who pass the examination by 70 percent will
move to the next stage.

The next stage will keep them better informed on how to run businesses to ensure success in their businesses. Thereafter, we will do a pitching where those who are properly trained will be selected and be given start- up kits to go ahead and be on their own,” the MD added.

Addressing unemployment as the greatest problem of young graduates, she said,
“We are aware of unemployment as a challenge plaguing young graduates and we recognize the need to empower the youths through capacity building of this magnitude for them to empower the whole nation. This training will help reduce
unemployment and underemployment in Nigeria, thereby making the corps members employers of labour.”

In her remarks, the FCT Coordinator, NYSC, Shokpeka Winifred expressed her profound gratitude to both NNPC Foundation and Kudimata Nigeria Ltd. for their unwavering support to empower the corps to enable them to become self-reliant individuals and wealth creator.

Winifred described the training as a platform for young people to learn the best ways of managing their finances, while also grooming them to become good managers of resources.

The corp members

“Going forward, I’m confident that they will put what they have learnt to use by utilizing their funds well as they are now aware of how to earn, maintain and multiply their finances. We are striving to see them becoming business owners,
tomorrow through further mentorship,” the Coordinator concluded.

One of the corps members at the NYSC orientation camp in Abuja, Prudence

Enema said: “I’m thrilled that the NNPC Foundation took their time to train us on
financial literacy, we are aware that financial literacy is very important, and we
have learnt a lot on how to multiply our money in order not to suffer in the future.”
Another corps member, Okeke Ugochukwu revealed that the training was worthwhile as the importance of saving and categorization of finances were taught effectively.

Related Topics:corp members Nigeria Youth

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FG Seeks Fresh $1.5bn World Bank Loans As Nigeria’s Debt Hits N166.79tn

Published

9 hours ago

September 28, 2026

Nigerian Tracker

By Yusuf Danjuma Yunusa

The Federal Government is in discussions with the World Bank for three new loans worth a combined $1.5 billion, even as Nigeria’s total public debt climbed to a record N166.79 trillion by June 2026.

The proposed facilities consist of three $500 million loans targeting climate resilience, social protection and early childhood development.

The first is an additional $500 million for the Agro-Climatic Resilience in Semi-Arid Landscapes (ACReSAL) project, which would increase its total financing to $1.2 billion. The funds are expected to support land restoration, flood and erosion control, irrigation, water management and other climate-resilience measures across northern Nigeria.

Another $500 million facility is proposed for the Household Prosperity and Empowerment-Social Protection (HOPE-SP) project. It is designed to support poor and vulnerable households through cash transfers, an improved social registry and stronger social protection systems.

The third $500 million loan would finance the Nigeria Early Childhood Development programme, covering all 36 states and the Federal Capital Territory. The programme aims to improve access to healthcare, nutrition, early learning, childcare, water and sanitation for children aged zero to five.

Meanwhile, figures from the Debt Management Office show that Nigeria’s public debt increased by N14.39 trillion , from N152.40 trillion in June 2025 to N166.79 trillion in June 2026. Domestic debt stood at N91.59 trillion, while external debt was N75.20 trillion.

Nigeria’s debt to the World Bank Group also rose to $20.73 billion by June 2026, accounting for about 38 per cent of the country’s $54.52 billion external debt.

Economist Adewale Abimbola said concessional loans could support development if properly structured and effectively utilised, stressing that the key issue was how the borrowed funds were deployed.

News

Report: Nigeria Records N166trn Public Debt

Published

2 days ago

September 26, 2026

Nigerian Tracker

‎
‎By Yusuf Danjuma Yunusa
‎
‎
‎The Debt Management Office (DMO) says Nigeria’s total public debt rose to N166.79 trillion as of June 30, 2026.
‎
‎The DMO published the latest public debt portfolio report on Friday.
‎
‎The figure represents a 9.4 percent or N14.39 trillion increase from the N152.4 trillion recorded at the end of June 2025.
‎
‎It also represents an increase of N7.44 trillion or 4.7 percent compared with the N159.35 trillion recorded at the end of the first quarter (Q1) of 2026.
‎
‎According to the latest report, the debt stock comprises N91.59 trillion in domestic debt, which accounts for 54.91 percent of the total debt stock, and N75.2 trillion in external debt, representing 45.09 percent.
‎
‎The debt office said domestic debt increased by N11.04 trillion (13.7 percent) from N80.55 trillion recorded in June 2025.
‎
‎The office said external debt also rose by N3.35 trillion (4.7 percent) from N71.85 trillion in the same period.
‎
‎According to the DMO, the federal government accounted for N152.77 trillion of the total debt stock, comprising N86.99 trillion in domestic debt and N65.77 trillion in external debt.
‎
‎On the other hand, states and the Federal Capital Territory (FCT) accounted for the remaining N14.01 trillion — N4.59 trillion in domestic debt and N9.42 trillion in external debt.
‎
‎In dollar terms, the agency said Nigeria’s total public debt stood at $120.93 billion as of June 30, 2026 — up from $99.66 billion recorded in June 2025.
‎
‎The DMO said the Central Bank of Nigeria (CBN) official exchange rate of N1,379 per dollar as of June 30 was used to convert the external debt to naira.
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News

NNPC Ltd Welcomes $800m Ima Gas Final Investment Decision

Published

3 days ago

September 25, 2026

Nigerian Tracker

The Nigerian National Petroleum Company Limited (NNPC Ltd) has welcomed the $800 million Final Investment Decision (FID) on the Ima Gas Project, describing it as a landmark development that affirms the growing viability of Nigeria’s upstream gas sector.

The project, located offshore in OMLs 112 and 117 and developed by AMNI International in partnership with TotalEnergies, will produce about 300 million standard cubic feet of gas per day at peak. The output will supply critical feedgas to Nigeria LNG Limited in support of its Train 7 expansion, which will increase capacity at the Bonny Island plant from 22 million tons per annum to 30 Mtpa.

The FID was enabled by the Presidential Directives of 2024, which provided fiscal incentives for non-associated gas, streamlined contracting and lowered development costs. Ima is the fourth major gas project to reach FID under President Bola Ahmed Tinubu, after Iseni, Ubeta and HI.

Group Chief Executive Officer, NNPC Ltd., Engr. Bashir Bayo Ojulari described it as “a decisive vote of confidence in Nigeria’s gas sector and in the bold reforms” that have created competitive terms and a predictable investment environment.

NNPC Ltd. also commends the collaboration between AMNI, TotalEnergies and the Nigerian financial sector, saying the model of indigenous operator, international partner and domestic capital is a template for future developments.

In a statement signed by Andy Odeh Chief corporate communications officer of NNPC Ltd. reaffirms its commitment to work with government, regulators and industry partners to sustain investment momentum and deploy Nigeria’s gas resources for industrialisation, job creation and long-term prosperity.