The Federal Government has rolled out YouthCred, a new consumer credit initiative aimed at enabling employed Nigerian youths to access affordable financing through the Nigerian Consumer Credit Corporation (CREDICORP).

The scheme targets young Nigerians between the ages of 18 and 39 who are gainfully employed in either the public or private sector. Eligible applicants can obtain loans of up to ₦5 million at government-backed, low-interest rates.

YouthCred is designed to support young workers facing financial pressures, enhance workplace productivity and help beneficiaries establish a verifiable credit record within the formal financial system. The programme is also positioned as a safer and more transparent option compared to high-interest digital loan platforms and informal money lenders.

Loan repayment under the scheme will be structured and deducted directly from beneficiaries’ salaries, reducing default risks and ensuring manageable repayment terms.

The Federal Government said the initiative forms part of broader efforts to promote financial inclusion, protect young workers from predatory lending practices and strengthen consumer credit access nationwide.

Applications for the YouthCred programme are available online at youthcred.com.

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