Massive Boost! FG Rolls Out N9bn Credit Lifeline For 400,000 NYSC Members And Youths

About 400,000 Nigerian youths, including members of the National Youth Service Corps (NYSC), have been enlisted to benefit from the Federal Government’s ₦9 billion credit facility aimed at supporting entrepreneurship development, according to iReporter Online.

In a significant move to drive youth empowerment, the Managing Director/CEO of CREDICORP, Uzoma Nwagba, on Wednesday, August 6, 2025, signed a Memorandum of Understanding (MoU) with the NYSC to provide loans of up to ₦200,000 per individual corps member.

These loans will come with single-digit interest rates and are designed to support relocation, acquisition of work tools, skill development, and small business financing.

According to iReporter Online, this initiative is the first phase of the YouthCred programme, with a focus on NYSC members.

Nwagba emphasized that YouthCred goes beyond financial support—it also offers credit orientation to instill responsible borrowing habits, credit history building, and financial planning skills among young Nigerians.

Corps members will undergo a digital credit education module, after which they become eligible for small initial loans. Upon successful repayment, they can access higher sums up to ₦200,000.

“Financial discipline and timely repayment are key to the growth and sustainability of this initiative,” Nwagba noted.

The Director-General of NYSC, Brigadier General Olakunle Nafiu, praised the scheme as a transformational opportunity for corps members and reaffirmed NYSC’s full commitment to its execution.

The digital credit training will be integrated into orientation and development programmes.

President Bola Ahmed Tinubu was commended for his consistent drive to empower Nigerian youth through accessible credit solutions. According to iReporter Online, this credit scheme is expected to significantly reduce barriers to entrepreneurship for young Nigerians nationwide.

The YouthCred programme marks a new era of structured, impact-driven youth financing in Nigeria.

According to iReporter Online, more phases of the initiative are in the pipeline, targeting a wider range of beneficiaries in the future.

”IREPORTER REPORTS”