The Federal Government has introduced a new USSD-based credit service, SPARK, to enable Nigerians to access loans and build formal credit histories using basic mobile phones without an internet connection.
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The service, launched by the Nigerian Consumer Credit Corporation (CREDICORP), is targeted at Nigerians, particularly first-time borrowers with limited or no credit history.
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Interested Nigerians can access the service by dialling *347*333# on their mobile phones. The platform does not require a smartphone or internet connection.
According to CREDICORP, SPARK is designed to simplify access to consumer credit while helping beneficiaries establish repayment records that could improve their credit profiles and create opportunities for further financial assistance.
The corporation explained that responsible borrowing and timely repayments would enable users to gradually build their credit histories and improve their access to financial opportunities.
It added that the service was expected to become more widely available to Nigerians before the end of 2026.
The product was unveiled at CREDICORP’s CREDICORP for All showcase in Aba, Abia State, where the corporation presented affordable credit opportunities to more than 1,000 residents.
The event brought together beneficiaries, participating financial institutions, local vendors and government representatives to demonstrate how consumer credit could support businesses and improve livelihoods.
Activities included demonstrations of credit access for market women and traders, presentations on the YouthCred initiative for young Nigerians, and the showcasing of credit-backed tricycles for transport operators.
The event also featured locally assembled tricycles made available on credit through CREDICORP’s Securing Consumer Access for Local Enterprises (S.C.A.L.E.) initiative.
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CREDICORP’s Managing Director and Chief Executive Officer, Uzoma Nwagba, said the initiative was intended to make consumer credit accessible beyond traditional financial institutions.
He explained that the programme was designed to provide credit opportunities for market women, financial support for young people, productive assets for transport operators and a simple way for Nigerians to begin building formal credit histories through SPARK.
Nwagba said the corporation wanted consumer credit to become an opportunity available to every working Nigerian rather than a privilege reserved for a few.
Also speaking at the event, Chinenye Mba-Uzoukwu, Chief Principal to Abia State Governor Alex Otti, said the state government was creating an environment where responsible consumer credit and enterprise could thrive.
Representing the governor, Mba-Uzoukwu said the administration was working to create favourable conditions for businesses to grow, investments to flourish and responsible credit to reach more residents.
She added that strengthening the business environment would make it easier for initiatives such as CREDICORP to support traders, young people and working families across the state.
Similarly, Armstrong Ume Takang, Managing Director of the Ministry of Finance Incorporated (MOFI) and a CREDICORP board member, said the showcase demonstrated how Federal Government policies could translate into economic opportunities for Nigerians.
He explained that CREDICORP was using structured public investment to stimulate enterprise, support local manufacturers and deliver economic benefits directly to citizens.
CREDICORP disclosed that it had facilitated more than ₦53.5 billion in consumer credit for over 351,000 Nigerians since commencing operations, with women accounting for approximately 59 per cent of the beneficiaries.
How to access the SPARK service
Interested Nigerians can dial *347*333# on their mobile phones to access the USSD-based service. A smartphone or internet connection is not required.
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