August 7, 2025 – The Minister for Youth Development, Mr Ayodele Olawande, has officially launched a loan scheme called “YouthCred,” aimed at giving Corps Members access to affordable credit. The initiative is led by the Nigerian Consumer Credit Corporation (CREDICORP) and allows Corps Members to apply for single-digit interest loans of up to N200,000.
The launch took place at the NYSC FCT Orientation Camp in Kubwa, Abuja, and is part of President Bola Ahmed Tinubu’s broader youth empowerment agenda.
According to Mr Olawande, “This initiative is one of the laudable youth-related programmes of President Bola Ahmed Tinubu’s administration, aimed at financial empowerment for Corps Members.”
The Director General of the National Youth Service Corps (NYSC), Brigadier General Olakunle Nafiu, praised the launch, saying it would offer Corps Members affordable credit options and help improve their welfare.
“The YouthCred initiative will provide additional financial support for Corps Members,” General Nafiu said. “Over 400,000 Corps Members pass out of the Scheme annually. This programme marks a collective milestone in our efforts towards improving the welfare and socio-economic prospects of Nigerian youths.”
He expressed gratitude to President Tinubu for his ongoing support of youth-focused policies and programmes. He also commended the leadership of CREDICORP for initiating and managing the scheme effectively.
“I also thank the Managing Director/CEO of the Nigerian Consumer Credit Corporation and his team for initiating and professionally driving this initiative with the NYSC,” General Nafiu added. “Your unwavering commitment to creating practical solutions for youth empowerment aligns perfectly with NYSC’s mandate of fostering national unity and providing opportunities for young Nigerian youths to succeed.”
He urged Corps Members to use their credit cards responsibly and follow the rules of the scheme. He also encouraged other stakeholders to work with NYSC to develop more impactful programmes for the youth.
Speaking at the event, the Managing Director/CEO of CREDICORP, Mr Uzoma Nwagba, revealed that N9 billion had been allocated for the first phase of the YouthCred programme, which targets Corps Members nationwide.
He explained that the programme is not only about providing loans but also about promoting responsible borrowing habits and financial planning among young people.