Abuja,Nigeria — The Minister of Youth Development, Olawande Emmanuel Ayodele, has officially launched YouthCred, a new initiative under the National Credit Initiative. The program, which aligns with President Bola Ahmed Tinubu’s June 12 Democracy Day commitment, is designed to provide fair, responsible, and flexible access to credit for young Nigerians.
The platform, accessible at www.youthcred.com, is now live and will initially focus on members of the National Youth Service Corps (NYSC). This launch follows the recent announcement that the YouthCred NYSC loan scheme portal was open for applications.
“In keeping with the promise made by President Bola Ahmed Tinubu in his June 12 Democracy Day address, I have the honour today to launch YouthCred under the national credit initiative,” Ayodele said during the launch. “With YouthCred, we are offering responsible, fair, and flexible access to credit to help youth meet their needs, start small businesses, and build the future they deserve, starting with members of the National Youth Service Corps.”
The Minister highlighted that a significant barrier to growth for young people has been the lack of access to credit, and this initiative is aimed at changing that narrative. Through the program, corps members can access a starter credit after completing a financial literacy course. This initial credit can then grow up to ₦200,000 based on the user’s repayment history, empowering them to manage loans and finances effectively.
Ayodele also drew a parallel to other government efforts, stating, “From NELFUND to YouthCred, we are prioritising youth welfare and doing our best to improve the lives of Nigerian young people.” He was referring to the Nigerian Education Loan Fund (NELFUND), which provides financial support for students.
The Minister concluded by expressing his gratitude to President Tinubu for fulfilling his promise and extended his thanks to the CEO of CrediCorp, Engr. Uzoma Nwagba, and the NYSC Director-General, Brigadier General Olakunle Nafiu, for their support in bringing the initiative to fruition.
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