The Federal Government of Nigeria, through the Nigerian Consumer Credit Corporation (CREDICORP), has empowered 200,224 Nigerians with N37 billion worth of consumer credit in 2025, covering funding for mobility, digital devices, solar energy solutions, home upgrades, and other life essentials.
The disclosure was made by Uzoma Nwagba, Chief Executive Officer of CREDICORP, in a statement shared on Wednesday via X, where he highlighted the scale, quality, and broader economic impact of the programme within its first full year of implementation.
“This year, we didn’t just set goals. We delivered results,” Nwagba said. “In one year, we enabled 35 financial institutions in this process and directed credit purchases to locally-manufactured goods through Project Scale, creating jobs. And today, we proudly stand at 0% non-performing loans, a sign of quality systems and trust.”
CREDICORP operates as a federal development finance institution, partnering with banks, microfinance institutions, and fintechs to expand responsible consumer credit access rather than lending directly. The approach is designed to strengthen Nigeria’s credit culture while supporting local production and employment.
According to Nwagba, 2025 marked “a year of action, partnerships, and people-centred impact,” with mobility programmes and strategic collaborations unlocking more accessible vehicle ownership for working Nigerians. He noted that microentrepreneurs across the country benefited from structured credit that supports livelihoods at the grassroots level.
The corporation also deepened its push for inclusive energy access through the Credit Access for Light and Mobility (C.A.L.M) Fund. Under the PowerHer774 initiative, clean and reliable solar home systems were delivered to households and women-led businesses across all 774 local government areas, expanding off-grid energy access and reducing dependence on fossil fuels.
Youth-focused credit expansion remained a major pillar of the programme. Through YouthCRED, CREDICORP supported young Nigerians with structured consumer credit, initially targeting National Youth Service Corps (NYSC) members before expanding access to all employed youth nationwide. “We backed ambition, empowering young Nigerians with confidence through credit to dream bigger and do more,” Nwagba said.
Women’s economic inclusion was further advanced through the 10,000 Women in Mobility Initiative, which enables mass vehicle acquisition for women participating in transport, logistics, and allied sectors. “When women move, the nation moves,” the CREDICORP CEO stated.
Beyond direct disbursements, CREDICORP is working with the financial industry on reforms aimed at rebuilding Nigeria’s consumer credit infrastructure, including efforts to improve credit reporting, repayment discipline, and borrower education.
Nwagba said the achievements align with the vision of President Bola Ahmed Tinubu to enable mass prosperity through access to responsible credit. “At CREDICORP, we work tirelessly until all Nigerians have a fair opportunity to live better now,” he said, adding that the scale of impact recorded in 2025 signals even broader outcomes ahead. The programme continues to expand in phases.
