How much is N33,000?

Over a year ago, the government informed corps members that it would extend the minimum wage increase to them and they will be paid over N10, 000 increments in their allowance. This was joyful news; the government finally implemented the allowance increase from N19, 800 to N33, 000 in January, 2020. As expected, this was received with much excitement.

I was appreciative but I wasn’t elated. How much is N33, 000 in this economy? I know a lot of NYSC members that have to share this sum with their families living in remote parts of the country. For these people, an increment is welcome in any case.  This sum is still less than $100. Not to seem greedy but if Nigerian youths are allowed to be more creative, a majority of them will earn more than $100 dollar monthly.

I have asked myself quite a number of times, how much is N33, 000? 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 dollar 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 members.

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. 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 programmes.

Victor Ilo,

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