But How Much is N33K?
Half a loaf is better than no bread, agreed. But what is even the worth of that half loaf? Can it “beleful” you?
From the above title, you are probably thinking this is just another writeup to criticize the Nigerian government. Quite frankly, this is just the exposé of a rather disgruntled Nigerian youth and former “corper” (I really did not like being called a corper.
Over a year ago, the federal government informed corps members that it would extend the minimum wage increase to the corps and all members will be paid over N10K increase in their allowance. This news was a joyful one to the then corps members. After much deliberation and delay, the government finally implemented the allowance increase from N19,800 to N33K in January 2020. As expected, this was received with much excitement.
The news trended on the Nigerian social media space with memes and videos of corps members embarrassing themselves. It was irritating to some people that I didn’t share in the excitement. I was appreciative quite alright; I just wasn’t elated. How much is N33K in this economy? I know a lot of NYSC members have to share this same sum with their families living in remote parts of the country. For these people, an increment is welcome in any case. Mind you, this sum is still less than $100. Not to seem greedy but if Nigerian youths are allowed to be more creative with the one-year period, a majority of them will earn more than $100 monthly (if the economy of Nigeria doesn’t inhibit their shine).
Early 2020 on social media, I came across a video posted by a participant of the MTN Foundation Youth Entrepreneurship Development Program. Apparently, he was going to be pitching his business idea to the foundation and if successful would win a N2M grant as capital. So how much is N33K? From the video, I could gather that he was an alumnus of the MTN Foundation’s scholarship scheme and so he automatically qualified for the entrepreneurship development program. It was at this point I began wishing I had been in the scholarship scheme while at the university.
Since I came across that video, I have had numerous thoughts running through my head and the result is this article. I have asked myself quite a number of times, how much is N33k? How far can it actually go? How much can it actually do? Well, I know people serving in the North and South-East who claim that they have saved quite a sum from their allowance. This is highly commendable. But then again, how much can be actualized in saving. If these corps members live on $1 a day (which is quite impossible now), only then can they actualize a reasonable sum in savings at the end of their service year. At the same time, how far can the savings go as a business capital or means of survival pending when they find a job? Let’s leave that for the creativity of the corps member.
There are many corps members who wished they had a business venture as an undergraduate. There are only a few corps members who are able to supplement their allowance with extra earnings. Trust me, you want to be the latter. As a prospective corps member or undergraduate, be deliberate about your decisions before it’s time for NYSC. Try as much as possible to get a paying job. Luckily for undergraduates, they still have the opportunity to enter scholarship programs. If you’re lucky enough to enter the MTN scholarship scheme, you just might be pitching for the next N2M grant. Do what it takes, because how much is 33K?
