The Federal Government has launched the Employed Youth Phase of YouthCred, introducing a credit window that offers up to N3 million to young working Nigerians as part of efforts to expand access to affordable consumer credit. Announced in Abuja by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, the new phase targets employed Nigerians aged 18–39 across both public and private sectors. Many in this group earn steady incomes yet remain unable to access formal credit due to existing barriers in the financial system.
The initiative will be delivered through the Nigerian Consumer Credit Corporation (CREDICORP) and partner financial institutions. Beneficiaries will be able to use the loans for essential needs including mobility, solar home systems, rent support, digital devices, household upgrades, and work tools, all without the requirement of collateral. Edun described the programme as “a practical expression of President Bola Ahmed Tinubu’s vision for a modern, credit-enabled economy where young Nigerians can live productive, dignified lives.”
He explained that government reforms should lead to visible improvements for everyday Nigerians, especially the youth, who make up more than 65 percent of the country’s population. “The future belongs to you,” he said.
He added that by 2050, Africa will supply 25 percent of the global workforce, with Nigeria making a major contribution. According to him, with the ongoing investment in digital infrastructure, young Nigerians “no longer need to ‘japa’ to succeed. You can build your future here.”
The minister said that access to credit provides dignity, financial independence, and equal opportunity, which the administration is determined to support through a growing and inclusive economy.
CREDICORP Managing Director, Uzoma Nwagba, said YouthCred has expanded from a small pilot into a national platform shaped by strong public demand. He noted that the earlier NYSC-focused phase attracted 51,000 applicants who completed credit education, with many receiving loans. “We found that most young people need credit for basic tools—laptops, accommodation, mobility, and solar power. These are essential for a dignified life,” he said.
Nwagba stated that CREDICORP has already reached 200,000 beneficiaries with N30 billion in consumer credit while maintaining zero non-performing loans. He credited this achievement to strong credit education and responsible lending practices. With the extension to employed youth, YouthCred is expected to reach one million young Nigerians and provide the country’s most affordable structured credit without collateral. “YouthCred is not just about loans; it is a movement that teaches financial responsibility and opens doors,” he said.
The Federal Government said the rollout creates a stronger pathway for financial inclusion, youth empowerment, and shared prosperity. Young Nigerians aged 18–39 are required to complete the mandatory credit education programme before applying digitally through CREDICORP’s approved channels.
