The Federal Government has launched YouthCred, a new youth-focused credit scheme designed to give gainfully employed Nigerian youths access to affordable loans of up to ₦5 million. The initiative is being implemented through the Nigerian Consumer Credit Corporation (CREDICORP) and targets young workers between the ages of 18 and 39 in both the public and private sectors.
YouthCred is designed to support young professionals facing financial pressures by providing a safe, structured, and transparent credit option. Beyond access to funds, the programme also helps beneficiaries build a formal credit history, improving their long-term financial stability and access to future opportunities.
Why it matters
YouthCred offers a reliable alternative to high-interest loan apps, loan sharks, and unregulated lenders that often trap young people in cycles of debt. By promoting responsible borrowing and credit transparency, the scheme aims to improve productivity, financial inclusion, and economic security for Nigeria’s youth workforce.
Eligibility Criteria
Applicants must be Nigerian citizens between the ages of 18 and 39.
They must be gainfully employed, either in the public sector or the private sector.
Applicants are required to have a verifiable source of income, as loan repayment is structured through salary deductions.
They must be willing to build a formal credit history under the Nigerian Consumer Credit Corporation framework and comply with all loan terms and conditions set by CREDICORP.
Loan details
Eligible applicants can access loans of up to ₦5 million at a low, government-backed interest rate. Repayment is structured and tied to salary deductions, making it easier for beneficiaries to plan and meet their obligations without financial strain.
How to apply
Interested applicants can learn more and apply via: https://youthcred.com
