The Federal Government has launched the YouthCred Empowerment Initiative to reach 400,000 youths across the country.
The program, which is backed by CrediCorp, Nigeria’s Consumer Credit Corporation, is designed to equip young people with practical credit knowledge and provide them with real financial tools to improve their future.
According to officials, YouthCred will offer low interest rate loans, flexible repayment plans, and credit education to youths between the ages of 18 to 39.
The loans come with no collateral, no guarantors, and are structured to grow as the borrower proves responsible. “Credit should work for you, not against you,” YouthCred stated. “That’s why we’re giving young Nigerians the knowledge, tools, and access they need to build strong credit from the start.”
YouthCred is accessible to NYSC corps members, employed youths, and youth entrepreneurs.
For NYSC corps members, YouthCred offers a plan called Corper Credit. The offer includes progressive loans with up to six months of low-cost credit, available through a quick and stress-free process.
Borrowers can grow their access to higher loan limits over time by completing credit knowledge courses and repaying on time.
In addition, YouthCred has introduced a credit card option for corps members. “Manage credit with more autonomy and unlock larger limits as you learn,” the program revealed.
The card is built to help users understand credit while avoiding hidden fees or unfair charges.
Young professionals with jobs also benefit from YouthCred through the Employed Youth Credit option.
Applicants aged 18 to 39 can access personal loans with competitive rates and flexible repayment terms for up to 12 months. “Whether it’s for a big purchase or emergency needs, this credit plan is built to support you without unnecessary stress,” YouthCred added.
Users can improve their credit score in Nigeria by making repayments on time and completing the built-in financial training. The program emphasizes transparency, offering “fair rates, no hidden charges.”
YouthCred is also targeting young business owners through its Youth Entrepreneurs Credit. This product provides capital for business growth with up to 12 months of repayment flexibility. “Fund growth, not just expenses,” YouthCred emphasized. “Whether it’s for equipment, staff, or expansion, we’ve got your back.”
Youths can borrow from as little as N5,000 to as much as N5 million, depending on their profile. The loan program offers scalable access to funding, meaning that responsible borrowers can increase their limits over time.
YouthCred loans come with repayment plans ranging from 1 to 24 months.
How to Apply
Applicants can apply through the official portal. The process is entirely digital. Once approved, funds are deposited within minutes. “To increase your loan limit, repay on time, build your credit history, and complete our financial training modules,” YouthCred advises.
Late payments may impact your credit profile, but loan repayment extensions are available for a small fee. “YouthCred is about real financial knowledge, real credit, and real transformation,” the agency said.
