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| President Ahmed Bola Tinubu |
The Federal Government has introduced YouthCred, a national consumer credit programme designed for Nigerians aged 18 to 39. The initiative, part of President Bola Tinubu’s Renewed Hope Agenda, seeks to expand access to credit and boost financial literacy among young people.
Launched in July 2025 by the Nigerian Consumer Credit Corporation (CREDICORP), YouthCred has already reached its 1,000th beneficiary and aims to support 400,000 youths nationwide. The scheme offers low-interest loans without requiring collateral or guarantors.
Applicants must complete an online financial literacy course covering topics like credit management, responsible borrowing, and repayment planning. The entire process is digital, requiring only a Bank Verification Number (BVN) and National Identification Number (NIN) for quick verification. In certain cases, financed items such as digital devices are delivered directly to beneficiaries.
Initially available to members of the National Youth Service Corps (NYSC), the programme will soon be extended to employed young people and youth-led businesses.
CREDICORP stressed that “YouthCred is more than a loan programme — it’s a nationwide movement to reorient how young Nigerians perceive credit.” It added that flexible repayment terms, strict data privacy safeguards, and financial education form the backbone of the scheme.
According to the government, the broader aim is to transform Nigeria’s credit culture, promote responsible borrowing, and drive inclusive economic growth.
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