YouthCred Loan Scheme Launches at Abuja NYSC Camp

The Federal Government has taken a fresh step to boost youth-led businesses with the launch of the Youth Credit Initiative, widely called YouthCred. Introduced as part of the Nigerian Consumer Credit Corporation (CREDICORP), the scheme targets National Youth Service Corps (NYSC) members and other young entrepreneurs.

Minister of Youth Development, Ayodele Olawande, unveiled the programme at the NYSC orientation camp in Abuja. He explained that while NYSC members are the starting focus, the initiative will expand to include young people in the informal sector and underserved communities across Nigeria. “This platform provides single-digit interest loans for youths eager to grow or start their businesses,” he said.

The Minister linked the scheme to President Bola Tinubu’s belief in youth potential to drive Nigeria’s economic future. He urged participants to embrace the opportunity and ensure timely loan repayments so that “others can benefit from the initiative in the future.”

YouthCred: Credit Access as a Tool for Economic Growth

NYSC Director-General, Brigadier General Olakunle Nafiu, hailed the move as a positive boost for corps members and the NYSC scheme. He assured full cooperation with CREDICORP to integrate credit education into corps members’ orientation and training.

CREDICORP’s broader goal is to make responsible credit accessible to every Nigerian worker, removing policy and market barriers that limit financial growth. Backed by the Federal Government, it aims to enable 50% of working Nigerians to access consumer credit by 2030.

According to Olawande, the YouthCred programme is not just a financial aid tool but also a way to encourage innovation and expand the country’s small and medium business base. The government believes this could significantly contribute to Nigeria’s Gross Domestic Product while empowering thousands of young people to build sustainable livelihoods.