President Bola Ahmed Tinubu has announced that the Federal Government will launch a bold new consumer credit initiative in July.
This is aimed at empowering 400,000 young Nigerians, including members of the National Youth Service Corps (NYSC).
The President made the disclosure during his address to a joint session of the National Assembly on Thursday as part of activities marking the 2025 Democracy Day celebration.
Tinubu emphasised that the programme is part of his administration’s broader economic reform agenda to improve financial inclusion, expand access to essential goods, and boost job creation among Nigeria’s youth.
He said: “This July, we will launch a bold new initiative to empower 400,000 young Nigerians, including youth corpers, with consumer credit.
He reiterated the success of existing efforts under the Nigerian Consumer Credit Corporation, noting that over 100,000 Nigerians, including 35,000 civil servants, have already benefited from affordable consumer loans aimed at improving their standard of living.
According to the President, the upcoming phase of the initiative will further strengthen youth empowerment by making essential resources more accessible and equipping young people with the financial tools needed to thrive in today’s economy.
President Tinubu also linked the new credit programme to other government-backed initiatives such as the Nigerian Education Loan Fund and vocational training schemes, which he said are designed to make Nigerian youths “job-ready and future-ready.”
Democracy Day, marked annually on June 12, commemorates Nigeria’s return to civilian rule and honors the memory of Chief Moshood Abiola, presumed winner of the annulled 1993 presidential election.
