FG Launches “YouthCred” Initiative, Providing Consumer Credit to Young Nigerians
By Patience Ikpeme
The Federal Government on Monday initiated “YouthCred,” a consumer credit programme designed to benefit 400,000 young Nigerians, including members of the National Youth Service Corps (NYSC).
This programme fulfills a promise made by President Bola Ahmed Tinubu in his Democracy Day address on June 12, where he announced that such an initiative would commence this July.
Nigerian Consumer Credit Corporation (CREDICORP), the agency overseeing the programme, revealed on Monday that the President’s commitment is now coming to fruition, with beneficiaries receiving credit by the minute.
The agency stated that, “YouthCred is not just about credit. It is a national effort at credit re-orientation, starting from the root, to reshape how young Nigerians think about money, building a credit history, credit scores, and trust.”
CREDICORP explained that the YouthCred journey begins with a straightforward digital credit education module. Only upon completion of this training can applicants gain access to structured, affordable credit.
This credit is intended for various needs, including resettlement, acquisition of digital devices, mobility solutions, or support for micro-enterprises. This approach ensures that Nigeria’s future workforce is embracing credit responsibly.
The agency further observed that a consistent pipeline of YouthCred over the years would lead to a working population in Nigeria that comprehends credit mechanisms, utilizes it judiciously, repays on schedule, and develops a formal credit history that unlocks greater opportunities.
The YouthCred initiative has initially rolled out for NYSC Corps members. Plans are underway to expand its reach shortly to encompass all employed youth aged 18–39, as well as youth-led enterprises, thereby supporting broader access to personal and productive credit across the nation.
Key features of the YouthCred program include gamified credit education preceding loan access, the absence of collateral or guarantor requirements for loans, fully digital onboarding processes utilizing Bank Verification Number (BVN) and National Identification Number (NIN), rapid approval and disbursement of funds or receipt of products, and a commitment to data privacy and secure platforms.
Interested young Nigerians can access the program by visiting [www.youthcred.com](https://www.youthcred.com).
