The Federal Government has unveiled YouthCred, a credit initiative aimed at providing National Youth Service Corps members with single-digit interest loans to finance entrepreneurial projects.

Announcing the scheme at the Lagos NYSC camp on Thursday, Minister of Youth Development Ayodele Olawande said the programme will give corps members access to loans of up to ₦200,000.

The initiative is being executed in partnership with the Nigerian Consumer Credit Corporation.

Olawande described Nigerian youths as “brilliant, hard-working and innovative,” noting that the government is determined to remove financial barriers to their business ambitions.

“If there’s any country in the world, including the United States, that has the most brilliant, workaholic and passionate innovative youths, it is Nigeria,” Olawande said.

“We don’t want you to lose your dream because of the lack of a token; that is why we are bringing YouthCred to you. This will give you the push needed to start your business.”

He encouraged corps members to remain patient and persistent, stressing that rebuilding Nigeria’s economy will take time.

“Now, we have a president that leads and listens, and that’s why learning that skill and growing that business is important,” the youth minister added.

The managing director of CREDICORP, Uzoma Nwagba, stressed that responsible credit is key to empowering young people.

The launch marks part of broader federal efforts to expand access to consumer credit and boost youth-driven enterprise across the country.