The Federal Government has formally unveiled YouthCred, a national credit scheme targeted at providing affordable consumer credit to 400,000 young Nigerians, including members of the National Youth Service Corps (NYSC).
The initiative, which is managed by the Nigerian Consumer Credit Corporation (CREDICORP), began disbursing credit on a rolling basis and has already reached its 1,000th beneficiary among corps members.
President Bola Tinubu had promised during his Democracy Day address on June 12 that the initiative would commence in July. True to that pledge, the government has now activated the YouthCred programme, which CREDICORP describes as more than just a loan facility.
According to the agency, YouthCred is also a national campaign to change how young people in Nigeria think about money, borrowing, trust, and financial responsibility.
“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,” the agency said.
The programme starts with a simple but mandatory digital financial literacy module. All applicants must complete this training before they can access loans under the scheme. The training covers topics like how credit works, why repayment matters, and how to build and maintain a healthy credit score. Only after completing this course can applicants access structured, low-interest credit for needs such as relocation, digital devices, mobility, or small business support.
CREDICORP said the design of the initiative is intentional: “This ensures that Nigeria’s future workforce isn’t just embracing credit — they’re doing so responsibly.”
With the YouthCred programme now live, CREDICORP says it expects that over time, Nigeria will grow a generation of credit-aware workers who understand how credit systems operate, manage their debt wisely, repay on time, and build a formal credit profile. This, it believes, will create more economic opportunities for young people and foster long-term financial inclusion.
Although the scheme began with NYSC members, it is not exclusive to them. CREDICORP confirmed that YouthCred will soon be expanded to include all employed young Nigerians between the ages of 18 and 39, as well as youth-led businesses across the country. This broader rollout is expected to deepen access to both personal and business credit, especially among underserved populations.
Key features of the YouthCred programme include: Gamified financial education before access to loans, making learning about money and credit fun and interactive; No collateral or guarantor required to access the loans; Fully digital onboarding using Bank Verification Number (BVN) and National Identification Number (NIN); Fast approval and disbursement, or in some cases, direct delivery of financed products (such as devices); and Secure and private data handling, ensuring beneficiaries’ personal information is protected.
CREDICORP described YouthCred as an evolving programme with long-term impact. By equipping young Nigerians with the tools to responsibly access and manage credit, the initiative aims to support job creation, entrepreneurship, mobility, and digital inclusion.
Young Nigerians interested in the YouthCred scheme can visit www.youthcred.com to begin their application, starting with the financial literacy module.
