FG launches YouthCred, national consumer credit scheme for Nigerian Youths

By Adetayo Omotoyosi Adeolu

The Federal Government of Nigeria has introduced YouthCred, a national consumer credit scheme designed for Nigerian youths between the ages of 18–39, including NYSC members, to expand credit access and boost financial literacy.

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The programme managed by the Nigerian Consumer Credit Corporation (CREDICORP), is in line with President Bola Ahmed Tinubu’s Renewed Hope Agenda. The programme also offers low-interest, collateral-free loans without guarantors.

The Lagos Voice reports that YouthCred, launched in July 2025, has reached its 1,000th beneficiary and targets 400,000 youths nationwide. Information made available stated that applicants must complete a digital financial literacy course covering credit management, repayment, and responsible borrowing.

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In addition to loan disbursement, the initiative also drives nationwide credit reorientation through gamified learning and a fully digital onboarding process using BVN and NIN for swift verification. In some cases, financed items, such as digital devices, are delivered directly.

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Although, YouthCred initially focused on NYSC members, the Federal government promised that it would soon extend to all employed youth and youth-owned businesses with flexible repayment plans. The programme also emphasised data privacy, financial education, and youth empowerment to reshape Nigeria’s credit culture and foster economic inclusion.