The Nigerian Consumer Credit Corporation (CREDICORP) has introduced YouthCred in Lagos, in alignment with President Bola Ahmed Tinubu’s Renewed Hope agenda, an innovative credit program aimed at equipping young Nigerians, including National Youth Service Corps (NYSC) members, with responsible, affordable financial access.
The unveiling event, held at the Ipaja orientation camp of the Lagos State NYSC, replicated a similar launch recently conducted at Abuja’s Kubwa camp. The campaign, termed ‘Real Financial Knowledge. Real credit: transforming a generation with the right money skills to build a great future’, promises to reshape youth engagement with credit and monetary responsibility.
Federal Minister of Youth Development, Comrade Ayodele Olawande, described the scheme not only as a resource for corps members but a comprehensive platform for all young Nigerians, regardless of their status. He encouraged youths to leverage the scheme to bring their entrepreneurial ideas and creative projects to fruition.
Engr. Uzoma Nwagba, MD/CEO of CREDICORP, characterized the program as a revolution poised to instill a credit culture across the nation. He emphasized President Tinubu’s visionary commitment to youth empowerment and explained that CREDICORP serves as a vital anchor in enabling self-reliance among young people. Nwagba further shared that the venture is steering a nationwide movement to alter perceptions about money, borrowing, and trust among Nigeria’s youth.
Adding their support, Lagos State Commissioner for Youth and Social Development, Mobolaji Ogunlende, heralded the federal government’s move as transformative. He noted the continued backing by Lagos State Governor Babajide Sanwo-Olu, focusing on social inclusion, gender balance, and youth advancement.
Meanwhile, Mrs. Christiana Salmwang, Lagos NYSC Coordinator, commended President Tinubu’s administration for prioritizing the welfare of young Nigerians, especially corps members, through initiatives like YouthCred.
This program aims to deliver fair, flexible, and low-interest consumer credit to over 400,000 young individuals, including those serving in NYSC. Prior to loan access, participants complete a digital credit education course designed to cultivate financial literacy and responsible borrowing habits. The loans, intended to support relocation, acquisition of work equipment, skill development, or small enterprise funding, start at single-digit interest rates with amounts reaching up to two hundred thousand naira.
The program not only offers critical financial resources but champions a cultural shift toward entrepreneurship and fiscal responsibility. Young Nigerians are encouraged to embrace this opportunity to build a brighter, self-sufficient future, as the movement gathers momentum.
