The Federal Government has launched the YouthCred for Employed Youth initiative under the Nigerian Consumer Credit Corporation, describing it as a major step toward empowering young Nigerians and strengthening participation in a credit-based economy.
Under the scheme, gainfully employed Nigerians aged 18 to 39 can access credit of up to ₦5 million.
Unveiling the programme at the Ministry of Finance auditorium in Abuja, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, described the initiative as a practical expression of President Bola Tinubu’s vision for a modern, credit-enabled economy.
This was contained in a statement issued on Friday by CREDICORP Managing Director, Uzoma Nwagba.
Edun said Nigerians should begin to feel the impact of ongoing reforms through improved access to tools that enhance productivity and financial stability.
He said, “The initiative represents a major step towards expanding financial inclusion and easing economic pressures on young workers.
“The initiative aligns with President Bola Ahmed Tinubu’s broader economic reforms targeted at improving livelihoods, stimulating consumer spending and supporting small and growing enterprises.”
He added that granting young people access to affordable credit would enhance national productivity and support long-term economic growth, while urging beneficiaries to use the loans responsibly and ensure timely repayment.
“The YouthCred is about dignity for you, your financial independence, your access to resources to be able to live your dreams and not be constrained. You are not.
“Under President Bola Tinubu, it is no longer a question of a few people having privileged access. No, the access to the opportunity is for all, and of course, it’s about inclusion,” the minister said.
He said the government aims to build a competitive economy that grows “rapidly, sustainably and inclusively,” benefiting young people, women and other disadvantaged groups.
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