The Federal Government has launched the Youth Credit Initiative, known as YouthCred, under the Nigerian Consumer Credit Corporation (CREDICORP), to support young entrepreneurs—particularly members of the National Youth Service Corps (NYSC).
Minister of Youth Development, Ayodele Olawande, unveiled the programme at the Abuja NYSC orientation camp, pledging to expand it beyond Corps Members to reach the informal sector and underserved communities.
According to the Minister, YouthCred offers single-digit interest loans to help young people start or grow their businesses, reflecting President Bola Tinubu’s commitment to empowering youth to drive economic growth through small and medium-scale enterprises.
“This is an opportunity to empower innovative youths with established ventures or fresh ideas. The president’s commitment to youth employment is clear in his continued engagement with young people,” Olawande said.
He urged beneficiaries to make timely repayments so others can benefit from the programme in the future.
NYSC Director-General, Brigadier General Olakunle Nafiu, hailed YouthCred as a positive boost for Corps Members and the NYSC scheme. He said the NYSC will partner with CREDICORP to ensure smooth implementation, including adding a credit education module to Corps Members’ training.
CREDICORP, an initiative of President Tinubu, aims to break structural and policy barriers to consumer credit access, targeting 50% of all working Nigerians by 2030.
Learn more at: www.credicorp.ng
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