The federal government has launched YouthCred, a new credit initiative designed to provide National Youth Service Corps (NYSC) members with single-digit interest loans to support their business ventures.
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The programme, unveiled by Minister of Youth Development Ayodele Olawande at the Lagos NYSC camp on Thursday, is being implemented in partnership with the Nigerian Consumer Credit Corporation (CREDICORP). Under the scheme, corps members can access up to N200,000 in credit to kick-start entrepreneurial projects.
LIST OF APPLICATIONS FOR REGULARISATION OF AREA COUNCIL LAND DOCUMENTS NULLIFIED/CANCELLED BY THE HONOURABLE MINISTER OF FCT
Olawande described Nigerian youths as some of the most innovative and hardworking in the world, stressing that financial barriers should not prevent them from realising their ambitions. He said YouthCred was created to give young Nigerians the push needed to pursue business ideas and acquire skills that could transform their future.
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LIST OF APPLICATIONS FOR REGULARISATION OF AREA COUNCIL LAND DOCUMENTS NULLIFIED/CANCELLED BY THE HONOURABLE MINISTER OF FCT
“We don’t want you to abandon your dream because of lack of funds,” he said, urging corps members to remain patient and persistent as the country works to rebuild its economy.
CREDICORP’s managing director, Uzoma Nwagba, said the initiative would help young people access credit responsibly while building a positive credit history. He explained that credit could give them the opportunity to acquire tools like laptops and smartphones needed for online work and digital businesses.
Nwagba acknowledged the negative perception around borrowing but noted that responsible credit was a powerful tool for growth. According to him, the government’s goal is to make credit cheaper and more accessible than traditional financial institutions, helping young Nigerians improve their livelihoods and long-term financial stability.
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