Apply Now: FG Launches New Online Portal to Provide Free Loans to Nigerian Youths
- The Federal Government has launched a no-collateral credit scheme targeting NYSC members, young professionals, and youth entrepreneurs
- The YouthCred online portal is now open for applications, offering loans with flexible terms and strong emphasis on financial literacy
- CrediCorp, in partnership with NYSC, said it aimed to transform Nigeria’s credit culture and provide youths with tools for economic growth
The Federal Government has officially opened the application portal for YouthCred, a new initiative that provides Nigerian youths, especially NYSC members and young entrepreneurs, access to loans without the usual hurdles of collateral or a long credit history.
The programme, powered by the Nigerian Consumer Credit Corporation (CrediCorp), is part of a broader move to transform Nigeria’s credit culture and financially empower the next generation.
Source: Twitter
Youths invited to apply for YouthCred loans
The online platform is now live and allows eligible young Nigerians to apply for various credit products tailored to their financial needs and growth plans.
According to the organizers, YouthCred aimed to create a shift in how young citizens accessed and managed their credit. It features three main loan categories:
- Corper Credit: A short-term credit scheme for NYSC members.
- YouthCred Card: A flexible credit facility for young professionals, repayable over 12 months.
- Youth Entrepreneurs Credit: A business support credit line for young entrepreneurs to start or scale up ventures.
"Today, CREDICORP and NYSC signed a landmark partnership for YouthCred, credit designed to unlock dignity, opportunity, and a future without limits," the agency posted on X (formerly Twitter).
In what seems to be a campaign kickoff, YouthCred is already taking its message directly to NYSC camps across the country, with a mix of financial education and entertainment.
The platform isn’t just about loans. It also focuses on financial literacy, equipping young people with the knowledge needed to navigate Nigeria’s complex economic terrain.
Through workshops, digital tools, and learning modules, YouthCred hopes to help applicants build responsible credit habits that will serve them long after they’ve repaid their loans.
Government targets youths in new YouthCred initiative
Analysts stated that the partnership with NYSC was a strategic step, as the corps scheme brings together tens of thousands of young Nigerians annually.
With unemployment and underemployment still high among youths, the new credit scheme could offer a vital stepping stone toward financial independence.
Source: Facebook
CrediCorp has described the programme as part of a broader strategy to democratize access to credit, reduce poverty, and stimulate entrepreneurship across Nigeria.
The agency also hinted at rolling out youth-focused events and competitions to reward creativity and financial discipline among applicants.
Prospective beneficiaries can now visit the YouthCred portal to register, review eligibility criteria, and apply for their preferred credit option.
FG opens new recruitment portal
Recently, Legit.ng reported that the National Directorate of Employment had launched the second phase of its Renewed Hope Employment Initiative, aiming to tackle youth unemployment and equip Nigerians with practical vocational and digital skills.
Speaking at the unveiling of a new digital registration platform in Abuja, NDE Director-General, Silas Agara, announced that the entire process for Phase Two would be conducted online, in a move aimed at fairness and reaching more Nigerians.
“After the success of Phase One, we have enhanced our infrastructure to make Phase Two fully digital,” Agara said.
“We have deployed robust hardware, software, and internet connectivity to all 37 states, including the FCT, to ensure seamless operations.”
To register, applicants must be between the ages of 18 and 45, possess a valid National Identification Number (NIN), and reside in any of Nigeria’s states or the Federal Capital Territory, regardless of their state of origin.
Expert says FG youth loan can drive growth
A youth development expert, Dipo Daniels, has described the federal government's new collateral-free loan initiative for Nigerian youths as a welcome move with the potential for lasting impact.
“The new collateral-free loan targeted at youths is a welcome development, offering potential for long-term impact and empowerment,” Daniels told Legit.ng in reaction to the scheme.
He noted that although previous initiatives like N-Power had faced some challenges, this effort could make a difference if properly executed:
“Some individuals may exploit the system, but I trust that the vast majority with genuine intent will benefit.”
Daniels, who emphasised that earlier programs had delivered value, expects this one to be an improvement:
“With careful implementation and monitoring, this scheme can positively impact Nigerian youths and contribute to the country's economic development,” he added.
African Union invites applications for roles
Earlier, Legit.ng reported that the African Union had announced recruitment for seven key positions for qualified candidates.
These seven roles ranged from logistics and medical warehouse management to market intelligence and ERP systems.
Prospective applicants with HND, BSc, or MSc qualifications were encouraged to apply through the online jobs portal.
Editorial assistant Ololade Olatimehin provided exclusive commentary from a youth development expert for this report.
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Source: Legit.ng
