Tinubu to Empower 400,000 Youths with Consumer Credit in July

President Bola Ahmed Tinubu says his administration is set to empower 400,000 young Nigerians, including members of the National Youth Service Corps (NYSC), through a new consumer credit scheme launching in July.

Speaking during a joint session of the National Assembly in Abuja to mark Democracy Day, President Tinubu explained that the initiative,  implemented by the Nigerian Consumer Credit Corporation (CREDICORP), is designed to enable more Nigerians to purchase essential items, improve their standard of living, and contribute to the country’s growing economy.

“In less than a year, over 100,000 Nigerians, including 35,000 civil servants, have benefitted from affordable consumer credit through CREDICORP,  enabling them to purchase vehicles, light up their homes, and improve their standard of living,” President Tinubu said.

He further stressed his administration’s ongoing commitment to youth empowerment and financial independence.

“This July, we will launch a bold new initiative to empower 400,000 young Nigerians, including youth corpers, with consumer credit. We are investing in education, vocational training, apprenticeships, and internships to make them employment-ready and future-proof.”

President Tinubu also used his Democracy Day address to highlight progress made under his administration, noting improvements in key economic indicators.

“We are already seeing results. GDP grew by 3.4 per cent in 2024, with Q4 at 4.6 per cent,  the highest in over a decade. Inflation is easing, food prices are stabilizing, our net foreign reserves have grown, and the Naira is strengthening.”

He said the federal government is currently extending fiber-optic connectivity across the country to aid its transformation agenda, helping businesses grow, education flourish, and communities connect.

“This policy will consolidate market-driven growth and enable us to reach our medium-term GDP growth target of 7 per cent, with a strong emphasis on growing our manufacturing base and food production toward food sovereignty.”

President Tinubu insisted the country was on its way toward food sovereignty and greater financial stability, a path that would enable more Nigerians to contribute to and benefit from the growing economy.

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