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YouthCred begins disbursing loans to NYSC members under national credit plan
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Programme includes mandatory digital financial literacy before loan access
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Scheme to expand to all young Nigerians, supporting jobs and entrepreneurship
The Federal Government of Nigeria has officially launched the YouthCred scheme, a nationwide initiative to provide low-interest loans to 400,000 young Nigerians, including serving members of the National Youth Service Corps (NYSC).
Launched on Monday and managed by the Nigerian Consumer Credit Corporation (CREDICORP), the programme has already disbursed loans to over 1,000 corps members, setting a strong precedent for national rollout.
The initiative is a fulfillment of President Bola Ahmed Tinubu’s June 12 Democracy Day pledge, where he committed to kickstarting the scheme in July as part of his administration’s broader efforts to boost youth economic inclusion and access to affordable credit.
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“YouthCred is not just about credit,” CREDICORP said. “It is a national effort at credit re-orientation… to reshape how young Nigerians think about money, building a credit history, and financial trust.”
Applicants must first complete a digital financial literacy module, covering topics such as credit mechanics, the importance of timely repayment, and building a strong credit profile. Only after this training are they granted access to structured loans for needs such as digital devices, relocation, transportation, or microbusiness funding.
YouthCred’s standout features include no collateral, no guarantors, fast digital onboarding via BVN and NIN, and gamified financial education to make learning engaging and practical.
The government hopes the initiative will cultivate a new generation of credit-aware, financially responsible young Nigerians, who can leverage formal credit channels to access life-improving resources and start small businesses.
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CREDICORP confirmed that while the programme began with NYSC participants, it will soon be extended to all young Nigerians between ages 18 and 39, including youth-led enterprises.
“This ensures that Nigeria’s future workforce isn’t just embracing credit — they’re doing so responsibly,” the agency emphasized.
By building a formal credit ecosystem around digital access and education, the federal government says YouthCred will help drive job creation, financial literacy, and digital inclusion — laying the groundwork for long-term prosperity.
Interested applicants can visit www.youthcred.com to begin the application, starting with the required literacy module.
