The Federal Government has launched the Youth Credit for Entrepreneurs Programme, a major initiative aimed at expanding access to affordable financing for young entrepreneurs and accelerating enterprise-led economic growth across Nigeria.
Speaking at the launch in Abuja, the Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, described the initiative as a critical step in translating ongoing macroeconomic reforms into tangible opportunities for young Nigerians by removing one of the biggest barriers to business growth—access to finance.
According to the Minister, Nigeria has no shortage of entrepreneurial talent, but millions of young people remain excluded from opportunities because they lack affordable capital rather than ambition.
He noted that the programme reflects the Federal Government’s commitment to building an economy where responsible borrowing, financial inclusion and enterprise drive shared prosperity.
“The real test of reform is whether ordinary Nigerians can access more opportunities, whether businesses can grow, and whether decent jobs are created. Youth Credit represents that transition from macroeconomic reform to microeconomic impact,” the Minister said.
Oyedele explained that eligible Nigerians between the ages of 18 and 35 will be able to access financing ranging from ₦200,000 to ₦2 million through participating regulated financial institutions, with eligibility based on responsible credit behaviour, cash flow and repayment capacity rather than traditional collateral requirements.
He said the initiative is designed to support micro and small businesses—including artisans, farmers, technology innovators, creatives, service providers and other young entrepreneurs—by providing the capital needed to start, formalise and scale their businesses.
The Minister stated that the programme complements broader economic reforms already being implemented by the Federal Government, including measures to simplify the tax system, reduce the burden on small businesses, strengthen macroeconomic stability and improve access to finance.
He noted that while macroeconomic stability remains essential, sustainable growth ultimately depends on creating opportunities that improve livelihoods, expand businesses and generate quality jobs for Nigerians.
The Minister also urged beneficiaries to approach the programme with discipline and integrity, stressing that responsible borrowing and timely repayment would help build a strong credit culture capable of unlocking even greater opportunities in the future.
He commended the Nigerian Consumer Credit Corporation (CreditCorp), participating financial institutions and development partners for their collaboration in delivering the initiative, describing it as a practical demonstration of how government and the private sector can work together to unlock Nigeria’s productive potential.
The Youth Credit for Entrepreneurs Programme is the third phase of the Federal Government’s Youth Credit initiative and is expected to empower up to 500,000 young entrepreneurs across the country while deepening financial inclusion and supporting inclusive economic growth.
