President Muhammadu Buhari has rejected the bill seeking to establish the Peace Corps of Nigeria as a paramilitary organization.
Buhari's decision was contained in a letter read out to Reps members by the speaker of the house, Yakubu Dogara.
Buhari stated the reasons in a letter sent to National Assembly.
To him, given the "scarce government resources", funding the organisation will be a financial burden on the federal government.
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The push is the latest effort by social activists to use social media to apply economic pressure to force change. Vice President Mike Pence also took the stage to call the Florida massacre "evil in our time ".
Do you agree with Mr President???
Another lawmaker from Lagos state, Yusuf Ayinla, said the issue must be looked at from the angle of unemployment.
The bill had in late December 2017 arrived the Presidency for possible assent after it was transmitted to President Buhari by the Clerk to the National Assembly, Sani Omolori.
"From what I'm seeing, there is a conspiracy against Nigerian youth", he said.
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The proposed bill, the President said, seeks to empower the peace Corps to undertake activities now being performed by extant security and law enforcement agencies.
He said the glory would have gone to the president "but it is now a free opportunity for the National Assembly to take all the glory".
He said funding among other reasons led to his rejection of the bill to give legal teeth to the Corps.
The Nigerian police had remained opposed to the legalisation of the corps.
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He said: "We play as always against Neymar , but he always tries to provoke". He's not a doctor, I'm not a doctor either.