By Babatunde Ayedoju

Parents and youths have commended the Federal Government’s recent implementation of the new N77,000 allowance for National Youth Service Corps (NYSC) members who had previously received N33,000 monthly, advising the corps members to avoid extravagant lifestyles.

The move by the Federal Government, which came some days after the Minister of Youth Development, Ayodele Olawande, dropped a hint during a television interview, was first announced in September 2023 to align with the National Minimum Wage (Amendment) Act 2024.

Mokesioluwa Peters, a businessman, described the allowance increase as a positive development, as it provides corps members who struggle with transportation, feeding, and accommodation costs with better financial support during their service year.

He said, “The new allowance is likely to improve the welfare of corps members, giving them more disposable income to cover their basic needs. It may also boost their motivation to participate actively in their primary assignments.

“However, there is a risk that inflation could erode the benefits of the increase if businesses and landlords raise prices in response.”

Mr Peter, who warned that increasing the allowance alone would not solve the country’s broader economic hardship, stressed the need for the corps members to exercise caution.

His words: “As corps members begin to receive the new allowance, they should be mindful of how they spend it. Budgeting wisely will help them make the most of the increase rather than wasting it on unnecessary expenses. They should also consider saving or investing in skills that will benefit them after their service year.

“Additionally, they must be cautious of employers or landlords who may take advantage of the situation by increasing financial demands on them.

“While this pay raise is a step in the right direction, the government must also focus on controlling inflation, increasing food production, and reducing the overall cost of living to make a real and lasting impact

Mr Rasheed Iliasu, another business man, while describing the allowance increase as a good development, because inflation has tripled in recent time, added that it would curb over thinking among the corps members and reduce the burden on their parents, because the previous amount was not enough to cater for their needs.

He advised the corps members to plan their lives better and save instead of spending more.

Dr Gbenga Folorunsho, a medical practitioner, noted that the new NYSC stipend would bring mild relief to the corps members as it would cause a slight increase in their purchasing powers.

Dr Folorunsho, however, said that because of the current state of the country’s economy, the new amount may not have a long-lasting positive impact on the financial state of the corps members.

His words: “Currently, the exchange rate of a dollar to naira is up to N1,500. What should be worked upon is the economy. If the economy is good, even if the money is not up to N77, 000 it will make a great deal of difference. Imagine that dollar to naira is N100, even if corps members are paid N10,000, they will have much relief.”

The medical practitioner advised that the beneficiaries should avoid wastage but invest the money in viable businesses, such as agriculture, stressing that anybody who could survive on N33,000 could also achieve something meaningful with the new amount, adding that they should avoid an extravagant lifestyle.

Miss Yinka Odekunle, another medical practitioner, also described the increase as a positive development that would encourage corps members to serve their country diligently and make them a little more comfortable in this present bad economy.

She advised them to invest in themselves, pay for courses, and get new skills that would make them more marketable after youth service.

Mr Samuel Odeyemi, a clergy man and parent, also pointed out that the Federal Government’s gesture would encourage the youths and stir the interest of the coming generations in education, so that they can become beneficiaries.

He said, “For the Corp members: those who are wise and prudent would learn to have savings ahead of the Passing-out. This will cater to the life immediately after NYSC.”

On the other hand, Dr Mrs. Omolara Fashina, an educationist, noted that a lot of corps members did not justify the N33,000 they were previously receiving monthly, adding that a lot of them abscond from their places of primary assignment.

While advising corps members to invest their new allowance in viable businesses instead of living recklessly, she appealed to the government to focus more on providing youths with skills that can equip them for the challenges of life ahead.