Oyo State like many of its counterparts in Nigeria is faced with the problem of a high number of its young population lacking access to employment opportunities. The State Government having realized the extent of the problem had to embark on several initiatives with the aim of reducing youth unemployment in the state. Evaluating the impact of any programme is an invaluable element required in policy formulation thus, the study was conducted to investigate the operation, problems and prospects of youth employment programmes in the State, using the Skill Acquisition Scheme and the Youth Empowerment Scheme-Oyo (YES-O) as case studies. A survey methodology was adopted for the study with structured questionnaires designed for four categories of respondents: trainees under the Skill Acquisition Scheme, tutors under the Skill Acquisition Scheme, administrators of the two employment programmes in the State, and cadets of the YES-O programme. The data gotten from respondents were analyzed through the help of the statistical software, SPSS. To ensure a lucid and simple analysis, descriptive statistics measures such as tables and percentages were used in interpreting results gotten from the study. The results obtained showed that many factors have militated against the ability of the two schemes to achieve their objectives. The State Skills Acquisition Scheme was characterized by problems ranging from inadequate funding, lack of an enduring exit strategy, lack of start-up capital, ineffective monitoring and supervisory mechanism, absence of literacy and numeracy components, and poor sensitization. The YES-O programme encountered challenges such as salary-related issues, absence of clearly defined exit strategy, duplications of duties and the inability of cadets to acquire relevant skills useful in the labor market. The recommendations for the improvement of the Skill Acquisition Scheme include the expansion of channels of enrollment into the scheme through collaboration with social groups, the establishment of more training centers, the creation of linkages with Micro Finance Institutions, and the adoption of Public Private Partnership (PPP) developmental strategy in the scheme. With regard to the YES-O programme, components such as entrepreneurship education, vocational training, and business management skills should be incorporated into the programme to cater for cadets in the post YES-O employment period.