In a major push for youth empowerment, the Minister of Youth Development, Mr. Ayodele Olawande, has officially launched the “YouthCred” loan scheme — a financial initiative offering up to ₦200,000 in single-digit interest loans to National Youth Service Corps (NYSC) members across the country.
The scheme, spearheaded by the Nigerian Consumer Credit Corporation (CREDICORP), was unveiled during a special event at the NYSC FCT Orientation Camp, Kubwa, Abuja, and is targeted at boosting access to credit and promoting responsible borrowing among young Nigerians.
> “This is one of the laudable youth-centered programmes of the Tinubu administration,” Minister Olawande stated.
“It is designed to equip Corps Members with financial tools to start small businesses, cover urgent needs, or improve their post-service life trajectory.”
---
NYSC DG Praises Milestone Initiative
Also speaking at the launch, Director-General of the NYSC, Brigadier General Olakunle Nafiu, described the initiative as a historic milestone in youth-focused governance.
> “YouthCred will provide Corps Members with affordable credit access and additional financial support,” Nafiu said.
“With over 400,000 Corps Members graduating from the Scheme each year, this initiative greatly enhances their welfare and economic prospects.”
He extended gratitude to President Bola Ahmed Tinubu for prioritizing youth welfare, and to Credicorp’s leadership for partnering effectively with the NYSC.
> “Your unwavering commitment to creating practical solutions for youth empowerment aligns perfectly with the NYSC’s mandate of fostering national unity and opportunity,” Nafiu added.
The DG also urged Corps Members to use the credit cards responsibly, follow the terms of engagement, and view the initiative as an opportunity to build financial discipline and economic self-reliance.
---
₦9 Billion Earmarked for Phase One
In his remarks, Mr. Uzoma Nwagba, Managing Director/CEO of Credicorp, revealed that ₦9 billion had been earmarked for the first phase of the YouthCred programme.
> “This is more than just access to credit — it's about teaching financial literacy, planning, and responsible borrowing,” Nwagba said.
“We are proud to partner with the NYSC in empowering the next generation of Nigerian leaders.”
He emphasized that YouthCred would create a new financial culture among young Nigerians, helping them transition from dependency to self-sufficiency.
---
A New Chapter in Youth Empowerment
The launch of YouthCred marks a bold step toward building a financially empowered youth population, ready to contribute meaningfully to Nigeria’s economy.
---
📰 Stay connected with Stone Reporters News for verified updates on youth programmes, national policies, and empowerment initiatives.
🌐 Visit: www.stonereportersnews.com
📲 Facebook: Stone Reports
Add comment
Comments