Big news for Nigerian youth with big dreams as the Federal Government has launched a ₦9 billion credit facility aimed at empowering 400,000 young Nigerians, including National Youth Service Corps (NYSC) members, with easy access to small business loans. Under the scheme, qualified participants will receive single-digit interest loans of up to ₦200,000 to kickstart or support their entrepreneurial journeys.
It’s all part of Youthcred, a new initiative by the Credit Corp (CREIOCORP), designed to boost youth enterprise and promote smart financial habits. On August 6, 2025, the Managing Director/ CEO of CREDICORP, Uzoma Nwagba, signed a Memorandum of Understanding (MoU) with the NYSC to begin implementation.
As to the purpose of loans, Nwagba stated that they will target various requirements such as relocation, buying of work equipment or devices, training skills, and financing small business, and that the initial YouthCred iteration would be targeting NYSC members, who will be made to undergo a brief digital credit learning course prior to subsequently gaining access to the credit facility.
He pointed out that there will be smaller amounts that corp members would be able to receive after completing the credit education scheme, and should receive other larger sums up to ₦200,000 per corp member following repayment of the initial loan.
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According to Nwagba, this is more than just giving out loans; it is about building a credit culture among young Nigerians. “The heart of YouthCred is not just credit, but credit orientation that teaches young Nigerians, especially as they are entering the workforce, good credit habits, how to build a credit history, how to plan financially and borrow responsibly, and ultimately also provides them with credit that enables them to access goods and services.” He said.
This financial boost is especially targeted at fresh graduates navigating their first step in the real world. And with a starting budget of ₦9 billion, the initiative is expected to expand as more participants join and repay their loans responsibly. Nwagba emphasized that timely repayment and financial responsibility are key to growing the scheme and keeping it sustainable for future beneficiaries.
NYSC’s Director-General, Brigadier General Olakunle Nafiu, expressed full support for the initiative, calling it a “platform for real, positive impact” on both corps members and the NYSC programme as a whole. He confirmed that the credit education module will be integrated into the corps’ orientation and training programmes moving forward. He also thanked President Bola Ahmed Tinubu for backing youth-focused policies and for making entrepreneurship more accessible through low-interest loans.
YouthCred offers a fresh path, one that encourages financial literacy, structured borrowing, and business growth without the burden of high interest or repayment traps, and this could be a helping hand for Corps members dreaming of becoming business owners.
