The Federal Government has expanded its consumer credit reforms with the launch of a new facility targeted at young Nigerians who already earn salaries but remain locked out of traditional lending systems. The initiative, known as YouthCred for Employed Youth, provides access to as much as N5 million without collateral, signalling a major policy move to widen financial inclusion for the country’s working-class population.
YouthCred is being implemented by the Nigerian Consumer Credit Corporation (CREDICORP), the national body created to institutionalise consumer credit and help Nigerians build credit scores, asset ownership, and long-term financial stability. Government officials say the window is specifically designed for employed Nigerians between 18 and 39 years who need structured credit to improve their productivity and living conditions but are often denied loans by commercial banks.
Unlike conventional lending, YouthCred allows beneficiaries to finance practical needs that support work and personal advancement—mobility solutions, energy systems such as solar power, rent support, digital devices, home upgrades, and tools required for career or business efficiency. Repayment can stretch up to 12 months, with a flat, transparent cost structure and no hidden fees.
CREDICORP disclosed that it has already issued N30 billion in consumer credit to over 200,000 Nigerians under various windows, maintaining what it described as a zero non-performing loan record due to rigorous verification and mandatory credit education programmes. The agency expects YouthCred to scale even further, with a target of reaching one million young beneficiaries as it deepens its partnership with commercial lenders and employers.
A key requirement for applicants is completion of the compulsory credit education module, which teaches financial planning, responsible borrowing, credit scoring, and repayment discipline. According to officials, this step ensures that beneficiaries understand how to manage credit sustainably.
Interested applicants can begin their process by visiting https://app.youthcred.com and selecting Employed Youth Credit to proceed with registration.
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