FG Unveils N5m Credit Window for Youths Under CREDICORP
·Pushes for better, cheaper healthcare access
·Reaffirms commitment to human rights
Bennett Oghifo in Lagos, Onyebuchi Ezigbo and Kuni Tyessi in Abuja
The federal government has said that under the Consumer Credit Corporation (CREDICORP) scheme Nigerian youths between the ages of 18 and 39 Years can access up to N5 million credit.
Also, the Coordinating Minister of Health and Social Welfare Prof. Ali Mohammad Pate, has said that Nigeria is currently working hard to achieve the target of improving healthcare services and making them accessible and affordable to the citizens.
This was as the Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi, stressed that freedom of expression and access to information remain the bedrock of democratic governance.
Even as it has officially launched the YouthCred for Employed Youth initiative under the Nigerian CREDICORP, the federal government described it as a bold step towards empowering young Nigerians and giving them a solid footing in a credit-based economy.
Unveiling the programme at the Ministry of Finance Auditorium in Abuja, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, described the initiative as a practical expression of President Bola Tinubu’s vision for a modern, credit-enabled economy.
He stressed that as government reforms strengthen the economy, Nigerians must also feel these gains in their daily lives through access to tools that make them more productive and financially secure.
Edun said the initiative represents a major step towards expanding financial inclusion and easing economic pressures on young workers.
The keynote speaker further stated that the initiative aligns with President Bola Ahmed Tinubu’s broader economic reforms targeted at improving livelihoods, stimulating consumer spending, and supporting small and growing enterprises.
The minister emphasised that empowering young people with access to credit would ultimately boost national productivity and contribute to long-term economic growth, even as he encouraged beneficiaries to use the loan responsibly and ensure timely repayment.
Addressing the gathering, the minister said, “The YouthCred is about dignity for you, your financial independence, your access to resources to be able to live your dreams and not be constrained. You are not. Under President Bola Tinubu, it is no longer a question of a few people having privileged access. No, the access to the opportunity is for all, and of course, it’s about inclusion.
“The ultimate aim of the government is to build and we’re well on the way to that with the removal of market distortions and stabilising of the economy, the aim is to build a competitive economy that is growing rapidly, sustainably and inclusively, the young, the women and even those who are less advantaged.”
Earlier, CREDICORP’s Managing Director, Uzoma Nwagba, noted that YouthCred has grown from a pilot into a national pathway for youth empowerment.
Nwagba noted that in the past year, the agency had released more than N30 billion to over 200,000 Nigerians, including Youth Corps members and others who needed financing for mobility or digital tools.
While revealing that CREDICORP has recorded zero non-performing loans so far, he said the target is to reach 1million youths by 2026.
He emphasised that the expansion reflects both the scale of demand and the administration’s commitment to unlocking opportunity for millions of young Nigerians through the country’s most affordable structured credit.
He assured that the Nigerian Government is committed to ensuring that credit becomes a tool for empowerment rather than a burden, adding that responsible lending practices and proper verification systems have been put in place to safeguard the process.
The MD explained that the scheme requires no collateral with interests as low as two per cent monthly and a six-month moratorium.
In another development, Pate’s expression of commitment to attainment of health sector targets came just as the World Health Organisation (WHO) said that in a quarter of countries in the African region, out of pocket healthcare expenditure is as high as 50 per cent while Nigeria and one other country averages 70 per cent.
The minister who spoke at a media session with journalists to mark this year’s Universal Health Coverage Day in Abuja yesterday, said that President Tinubu has been a very strong champion for improving the health sector.
According to him, the president has taken many bold and concrete steps aimed at transforming Nigeria’s healthcare system and protecting Nigerians from financial hardship.
Pate, who acknowledged that out of pocket healthcare expenditure is still high in Nigeria, noted that other countries are also facing similar challenges.
“Financial protection is still a challenge, and affordability is an issue for people across the world, not only here in Nigeria, there are too many people, too many families, that are being pushed into poverty because of illness and cost of accessing health for us, our position, that is a position of president Bola Ahmed Tinubu is that ideally no Nigerians should have to choose between health and feeding their families or just making other choices about their Life.
“Health should be affordable, but we’re on that journey, and it’s a journey, our vision is to be at that point where a family shouldn’t have to choose between paying for healthcare access and buying food for their children.”
Pate said that the federal government is also making steady progress in its efforts to drive down the cost of medicine and other health commodities through promotion of investment in local manufacturing of drugs.
He said that the process to restart vaccine manufacturing in the country is now gaining ground, adding that there is currently a move to have clinical trials for a Lassa Fever vaccine.
He also said that the move to commence local manufacture of insecticide treated mosquito nets in Ogun State has reached critical stage, with the investor pledging to begin production by next year.
On some of the interventions being made to cushion the cost of healthcare, Pate said that the federal government in 2025 introduced a medical relief programme intended to assist indigent Nigerians who are down with critical illnesses.
In addition, the minister said that the government has approved the expansion of funding for the health insurance scheme in order to cover critical healthcare needs of the people.
Pate said that federal government sees the attainment of the Universal Health Coverage targets as a national economic strategy for improving productivity and prosperity, adding that health is not only a right, but also a key to human capital accumulation.
The minister said it is the expectation of government that every Nigerian, regardless of their location or income, should have access to quality health services.
“These are guided by the health sector strategic blueprint, which has four policy focus areas, governance, ensuring quality, efficient and equitable health services, primary health care, through insurance, through our hospitals, through human resources, unlocking the health care value chain,” he said .
Regarding health sector financing, Pate said, “We have been pushing for shifts in financing, because we believe that unless you shift resources, nothing will change. So with the expansion of fiscal space, with the reforms at the macro level, we’ve begun to see increased federal and state investments in health.
“Of course, at the state level, we need to see a lot more, at least each state to increase its allocation and also its spending on health.”
In his remarks, the WHO Country Director in Nigeria, Dr. Pavel Ursu, said high out of pocket healthcare expenditure is still constituting a major challenge for most countries in Africa.
According to him, while service coverage is increasing and improving, financial hardship globally is also slightly increasing.
Speaking on the recent report of WHO and the World Bank, Ursu said, “a quarter or 31 of the countries, more than a quarter of all expenditure is out of pocket expenditure.
“In 11 countries, more than 50 per cent of the entire expenditure is out of pocket. And in two countries, in Nigeria, it’s more than 70 per cent and obviously, these are not statistics.
“We know that the situation is improving in many parts, but the progress is uneven. I would like to just mention that obviously, when confronted with excessive financial hardship, people are put in a situation of very hard choices,” he added.
Meanwhile, the Attorney-General of the Federation and Minister of Justice, Fagbemi, who was speaking at an event to mark 2025 International Human Rights Day held in Abuja, stated that the annual commemoration which marks the 77th anniversary of the adoption of the Universal Declaration of Human Rights, serves as a reminder of the fundamental rights that sustain global democracies.
The minister who was represented by a senior official of the Ministry of Justice, paid tribute to advocates who “push against systems, laws and policies to ensure the freedoms we enjoy today,” adding that this year’s global theme, ‘Our Everyday Essentials’, had been domesticated to spotlight freedom of expression and access to information.
According to him, the two rights are “practical necessities that empower citizens, strengthen institutions, and uphold the very fabric of democratic governance.”
He observed that the United Nations Educational, Scientific and Cultural Organisation (UNESCO) recognises access to information as a catalyst for informed decision-making, accountability, and progress towards the Sustainable Development Goals (SDGs).
Citing international data, Fagbemi noted the correlation between free expression and broader human rights protection.
“Nations that enjoy high levels of free expression also tend to have stronger protection of civil, political, economic and social rights,” he said, warning that countries that restrict expression often witness widespread exclusion.
He emphasised that the Nigerian Constitution guarantees these freedoms under Section 39, while the 2011 Freedom of Information (FOI) Act further entrenches them. He described the April 2025 Supreme Court judgement—which affirmed that the FOI Act applies to all arms and tiers of government—as a major victory for transparency. The ruling, he said, “will ensure uniform implementation across the 36 states and the 774 local government councils.”
While reaffirming the government’s commitment to protecting expression, he warned that “misinformation, disinformation and hate speech—especially in digital spaces—pose serious threats to national cohesion.”
He stressed that freedom must be exercised responsibly, and that the government would continue to safeguard expression without allowing it to become a tool for violence or instability.
The minister also outlined ongoing reforms to make the justice system more efficient and accessible, strengthen civic education, and entrench accountability.
“When we defend freedom of expression and access to information, we are not just protecting rights—we are building a more just, inclusive and democratic Nigeria,” he said.
In his remarks, the Head of the European Union Delegation to Nigeria and ECOWAS, Ambassador Gautier Mignot, warned that human rights are increasingly under threat globally, often distorted through misinformation and false narratives. While emphasising that free expression is essential, he stressed that it must not be misused.
“Freedom of expression does not mean a right to spread falsehoods, nor should fighting misinformation become an excuse for repressing journalism or silencing dissent,” he said.
Mignot lamented growing attacks on journalists in Nigeria, describing them as unacceptable. He urged the government to strengthen mechanisms for investigating and prosecuting crimes against journalists, including unresolved cases.
He added that democracy requires “informed citizens, a free press, strong institutions, and an empowered judiciary.”
He reaffirmed the EU’s commitment to supporting Nigeria’s democratic and human rights initiatives.
Also speaking, Director of the African Legal Information Institute, University of Cape Town, Ms. Mariya Badeva-Bright, underscored the centrality of open legal access to rule of law and economic development. She warned that millions of Africans lack access to the laws governing them, creating a crisis of legal uncertainty.
Citing cases from Nigeria and across the continent, she noted that many police officers, magistrates and even lawyers work without access to updated legislation. “How do we enforce rights no one can read?” she asked, stressing that inaccessible laws undermine justice, investment, and public trust.
Badeva-Bright highlighted African success stories, including Ghana’s rapid judicial digitisation and Tanzania’s expansive online legal databases, demonstrating the transformative impact of open legal information. She argued that Nigeria, as a digital leader, must extend its innovation to the justice sector.
As the event drew to a close, speakers reiterated that free expression, access to information, and open legal systems are not privileges but everyday essentials for democracy, development, and dignity.
