By Benson Daniel
The Nigerian Consumer Credit Corporation (CREDICORP) has introduced a new device financing initiative aimed at expanding access to digital tools for young Nigerians, a move expected to boost digital inclusion, skills development and economic participation.
The programme is designed to enable eligible youths to acquire essential digital devices, including laptops, tablets and smartphones, through affordable and structured repayment plans. The initiative seeks to remove financial barriers that prevent many young people from accessing technology needed for education, entrepreneurship and employment.
According to CREDICORP, the financing scheme forms part of broader efforts to deepen consumer credit in Nigeria while supporting the Federal Government’s agenda of promoting digital innovation and youth empowerment. The corporation said access to digital devices has become increasingly important in today’s technology-driven economy, where education, remote work and business activities rely heavily on digital connectivity.
Stakeholders believe the initiative will provide opportunities for students, young professionals, entrepreneurs and small business owners who require digital tools but are unable to afford the high upfront cost of purchasing them.
The programme is also expected to encourage responsible borrowing by giving beneficiaries access to affordable credit facilities with transparent repayment terms. Industry experts say such interventions could stimulate local economic activity, promote financial inclusion and increase productivity among young Nigerians.
Analysts noted that improved access to digital devices will enhance participation in online learning, digital commerce, software development, creative industries and other technology-driven sectors that continue to create employment opportunities across the country.
CREDICORP reaffirmed its commitment to building a sustainable consumer credit ecosystem that empowers Nigerians to improve their quality of life through responsible access to finance. The corporation added that partnerships with financial institutions, technology companies and device manufacturers will play a key role in ensuring the programme reaches a wider segment of the youth population.
The initiative is expected to support Nigeria’s digital transformation agenda while equipping young people with the tools needed to compete effectively in an increasingly digital global economy.
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