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Tag: Fed Govt

  • Fed Govt, UK to strengthen international trade on standard

    Fed Govt, UK to strengthen international trade on standard

    The federal government in partnership with the United Kingdom have designed programmes to support local institutions and empower small and medium enterprises (SMEs) to strengthen quality infrastructures for international trades.

    The Trade Market Access Lead at the UK Department for Business and Trade in Nigeria, Simeon Umukoro disclosed this at the launch of  the Standards Partnership Programme in Abuja, stating that, the United Kingdom and Nigeria have deepened their bilateral trade ties through a UK-funded initiative aimed at strengthening Nigeria’s quality infrastructure.

    Umukoro  explained that the programme aims to enhance Nigeria’s capacity by engaging international trade with the UK, while supporting local SMEs. This initiative according to him aligns with the UK’s commitment under the Enhanced Trade and Investment Partnership (ETIP) with Nigeria.

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    He highlighted the programme’s potential which will enable Nigerian  SMEs benefit from the developing Countries Trading Scheme, which grants duty-free access to the UK market for more than 3,500 Nigerian products. The initiative is intentionally inclusive, designed not just for large corporations but specifically structured to assist smaller businesses in meeting the technical and regulatory standards required for exporting to international markets.

    According to him, “The programme involves establishing institutional frameworks and strengthening national agencies such as the Standards Organisation of Nigeria (SON) and the Nigeria National Accreditation System (NiNAS). These institutions are being equipped with the tools and expertise necessary to ensure Nigerian products meet global quality and safety standards.

    “This programme works closely with the National Quality Council and other relevant bodies to implement the National Quality Policy.  This collaboration fosters a coordinated national approach to quality infrastructure something many countries struggle to achieve—giving Nigeria a competitive edge in the global market.

    “The Standards Partnership Programme, which began in 2022, is currently in its third phase and is set to continue until March 2026. At this stage, the initiative focuses on four key sectors, leather, tea, cashew, and coffee. These sectors were selected as pilot industries to identify existing challenges and address gaps in areas such as measurement standards (metrology), accreditation, and conformity assessment. The programme works with stakeholders to close these gaps and raise the sectors to export-ready standards”.

    Speaking, Olalekan Omoniyi, Deputy Director of Standards Development at SON, emphasized the importance of the partnership in creating a shared understanding among stakeholders of the critical role standards play in facilitating trade and driving exports.

    The collaboration he said, has enabled SON to identify key export products that require standardisation to meet international market demands, noting that a strong national quality infrastructure is vital for any country seeking to participate meaningfully in international trade and achieve long-term economic growth.

  • Fed govt to unveil N50m STEMM grant to empower student-entrepreneurs

    Fed govt to unveil N50m STEMM grant to empower student-entrepreneurs

    The Federal Government is set to unveil a financial grant opportunity for student-entrepreneurs as a way to stimulate innovation, entrepreneurship, and economic transformation.

    The government said that key beneficiaries are student-entrepreneurs in Sciences, Technology, Engineering, Mathematics, and Medical Sciences related courses.

    Minister of Education, Dr. Tunji Alausa, in a statement yesterday signed by the Director, Press and Public of the ministry, Boriowo Folasade explained that the project, also referred to as the “STEMM Up Grant” initiative will be formally unveiled in August in Abuja.

    He explained that the project known as Sciences, Technology, Engineering, Mathematics and Medical Sciences Student Venture Capital Grant (S-VCG), is a pioneer initiative designed to empower students in Nigeria’s tertiary institutions to build the next generation of scalable, job-creating ventures.

    The minister challenged key education managers, notably, vice chancellors, provosts, rectors, students’ leaders, academic staff, and development partners to support the project, and also chart a collective course for nurturing student-led innovations.

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    He said: “S-VCG is not just a grant. It’s a launchpad for bold, young innovators to lead Nigeria’s industrial and technological transformation. We are giving our students the tools to dream, build, and scale solutions that solve real-world problems, from tech and medicine to agriculture and green energy.

    “The grant targets full-time undergraduate students in STEMM disciplines (Science, Technology, Engineering, Mathematics, and Medical Sciences), specifically those in their 300 level and above. Each selected student-led project will be eligible to receive startup funding of up to N50 million, along with access to mentorship, incubation services, and business development support.

    “The initiative will be implemented in partnership with the Bank of Industry (BOI) to ensure financial transparency, impact measurement, and effective project execution.”

    Minister of State for Education, Prof. Suwaiba Sa’id Ahmad described the grant as a strategic investment in Nigeria’s knowledge economy.

    “We are building a stronger, more competitive future by supporting innovation from the ground up. This programme’s design was informed by months of consultation with students, faculty, and institutional leaders.

    “The launch of S-VCG also aligns with the government’s agenda, which prioritizes inclusive education, youth empowerment, and sustainable economic development.”

  • Fed govt denies involvement in First Holdco share acquisition

    Fed govt denies involvement in First Holdco share acquisition

    The Office of the Attorney General of the Federation (AGF) has denied reports claiming that the Federal Government acquired a 25 percent stake in First Bank Holdings (First Holdco), describing such reports as false, misleading and malicious.

    In a statement on Friday by Special Assistant to the President on Communication and Publicity, Office of the AGF, Kamarudeen Ogundele, the Federal Government distanced itself from any involvement in the share acquisition, stating that neither the government nor the Attorney General played any role in the transaction.

    “We are compelled to respond to a publication by ThisDay Newspaper of July 17, 2025, and Arise TV suggesting that 25% of First Bank Holdings (First Holdco) shares were transferred to the Federal Government of Nigeria’s trustee. The report is inaccurate, misleading, resentful and malicious,” the statement reads.

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    The AGF’s office clarified that the ownership and governance of First Holdco remain a private matter, independent of any federal involvement. 

    “The circumstances surrounding the shareholding structure are distinct from any government involvement,” it said.

    According to the statement, while the Office is aware of a trustee arrangement set up by First Holdco, the Central Bank of Nigeria (CBN) had approved Stanbic IBTC to oversee the trustee as a third-party manager — not as a government proxy.

    “The Office of the Attorney General of the Federation and Minister of Justice debunks this falsehood to prevent confusion or misconceptions about First Holdco’s ownership and governance,” the statement emphasised.

  • Fed Govt to bridge skills gap in housing sector

    Fed Govt to bridge skills gap in housing sector

    The Federal Government has launched the National Artisan Skills Acquisition Programme (NASAP), a flagship intervention aimed at equipping young Nigerians with market-ready skills and linking them directly to job opportunities.

    The Minister of Housing and Urban Development,  Ahmed Dangiwa, formally presented the initiative at the 6th National Council on Skills (NCS) meeting held at the Presidential Villa, Abuja attended by Vice President, Kashim Shettima.

    Describing NASAP as a strategic component of President Bola Tinubu’s Renewed Hope Agenda, the Minister said the programme is designed not just as a training scheme, but as a national effort to “professionalise artisanship, restore quality in housing delivery, and connect skills to jobs.

    “Whether it’s public or private housing projects, poor workmanship is undermining quality and safety. NASAP is our response to this challenge.”

    A standout feature of the programme is Craft-Hub, a digital platform, the Minister likened to “Uber for artisans and a strategic response to the deepening shortage of skilled artisans in Nigeria’s construction sector”.

    Explaining further, he stated that after undergoing training and certification, artisans will be digitally profiled and onboarded to a national database accessible to developers, contractors, and the general public. Each profile will include location, trade, ratings, and work history, building trust and enhancing job opportunities.

    He said: “We are building trust in skills. Craft-Hub will make it easy to find verified artisans just like booking a ride.

     “NASAP is designed as a 6-month intensive training programme, combining classroom instruction, hands-on practical’s, mentorship, and jobsite exposure that covers 10 high-demand construction trades such as bricklaying, masonry, plumbing , pipefitting, electrical installations, carpentry and woodwork. Others are painting, decorative finishes, welding, fabrication, tiling, floor finishing, pop screeding, upholstery, furniture craft, air conditioning and refrigeration.”

    According to him the goal is to train and certify 10,000 artisans annually, creating a steady pipeline of skilled professionals to meet the demands of Nigeria’s growing housing sector.

    The programme will leverage existing Building Craft Training Schools in Kuje and Yaba, with new centres planned for Imo and Yobe States, he added.

    On its implementation he stated that NASAP is structured to roll out in three phases. This year alone 3,000 trainees will be selected from some states as a pilot study while next year there will be a nationwide rollout while Regional Centres of Excellence will be established in 2027.

    On its operational framework  the minister explained that  it will operate through a Public-Private Partnership (PPP) framework, with the Ministry providing initial funding and working with development partners such as the World Bank, AFDB, UNDP, GIZ, JICA, and ESG aligned private investors to mobilize additional resources.

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    “We recognise that we cannot do this alone. Our strategy is collaborative, everyone, states, DFIs, employers, and training institutions have a role to play, he added.”

    In his response, Vice President Kashim Shettima commended the Minister for the initiative, describing NASAP as a game-changing intervention that aligns with the federal government’s priority to close the skills gap in infrastructure delivery.

    This initiative is timely and visionary, the Vice President said. “If properly implemented, NASAP will go a long way in fixing the skills deficit that continues to undermine construction quality across the country. With strong inter-agency collaboration and sustained support from stakeholders, NASAP has the potential to dramatically raise the quality of construction in Nigeria, create jobs, and reduce dependence on foreign artisans.

    Following the presentation, the Council advised the Federal Ministry of Housing and Urban Development to deepen engagement with the National Board for Technical Education (NBTE) to ensure full alignment of NASAP’s curriculum and structure with national certification frameworks.

  • Fed Govt, World Bank, AfDB, others move to unlock energy investments

    Fed Govt, World Bank, AfDB, others move to unlock energy investments

    The federal government is leading a global coalition of stakeholders aimed at unlocking further investments in the energy sector.

    A high-level stakeholder engagement forum towards the implementation of the National Energy Compact under the Mission 300 initiative, which is a critical step towards tackling energy poverty, will hold today through the Federal Ministry of Power and the Federal Ministry of Finance, in collaboration with Sustainable Energy for All (SEforALL).

    Tagged Mission 300, the initiative is championed by the World Bank Group and the African Development Bank, with key support from The Rockefeller Foundation, the Global Energy Alliance for People and Planet (GEAPP) and SEforALL.

    The project is geared towards achieving the ambitious goal of connecting 300 million people across Africa to electricity by 2030, alongside other African countries, with Nigeria as one of twelve countries selected for the first phase of Mission 300 implementation.

    Nigeria has committed to bold reforms to expand energy access, scale up renewable energy and attract private sector investment. To drive this effort, the government has established a high-level Compact Delivery and Monitoring Unit to oversee and coordinate the delivery of Mission 300 targets.

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    To propel coordinated action and unlock investment, the Compact Delivery and Monitoring Unit, through the Stakeholder Forum, will bring together senior government officials, development partners, and private sector leaders to discuss progress and showcase implementation efforts for Nigeria’s National Energy Compact, launched at the Dar es Salaam Energy Summit in January 2025.

    The Compact outlines clear, investable targets: doubling the annual electricity access growth rate from 4.0 per cent to 9.0 per cent and increasing access to clean cooking solutions from 22 per cent to 25 per cent per year. These targets signal Nigeria’s commitment to achieving universal energy access by 2030 and creating a predictable, results-driven environment for energy investments.

    The forum focuses on the five strategic pillars of Nigeria’s Mission 300 Compact, each designed to unlock investment and drive market transformation:

    Infrastructure Rehabilitation and Expansion to create a bankable pipeline of grid and off-grid projects through least-cost planning and technical capacity building.

    Last-mile access to open new markets by extending electrification to underserved communities. Clean cooking to promote the widespread adoption of clean cooking solutions to reduce reliance on traditional biomass fuels. Financially Viable Utilities to improve creditworthiness and attract capital into the power sector. Private Sector Participation through clear incentives, de-risking mechanisms, and enabling policies. Regional Integration to scale investment opportunities across borders and enhance power trade.

    “Nigeria is showing real leadership in driving forward the ambition of Mission 300. Its progress shows what is possible when political will, bold reforms, and clear, investment-ready targets come together. The African Development Bank is proud to stand with Nigeria to help translate this ambition into reality, mobilizing funding, strengthening institutions, and unlocking private capital to ensure millions more gain access to reliable, affordable, and sustainable electricity.”  said Wale Shonibare, Director, Energy Financial Solutions, Policy and Regulation, African Development Bank

    Speaking ahead of the forum, the Honourable Minister of Power, reaffirmed the Federal Government’s commitment: “Mission 300 is more than an initiative – it is a transformative opportunity to reshape Nigeria’s energy future. We are committed to working with our partners to ensure affordable, reliable, and sustainable electricity for all Nigerians and we invite all stakeholders across government, development, private sector, and civil society to join this critical initiative to build an inclusive and resilient energy sector for Nigeria.”

    The success of Mission 300 depends on bold partnerships and immediate action. This forum shows what’s possible when governments, business and development partners come together with urgency and purpose backed by significant and sustained investment,” Damilola Ogunbiyi, CEO and Special Representative of the UN Secretary-General for Sustainable Energy for All, and Co-Chair of UN-Energy, said.

  • Fed Govt, others sign MoU on poverty reduction, job creation through digital platforms

    Fed Govt, others sign MoU on poverty reduction, job creation through digital platforms

    The Federal Government and the Digital Bridge Institute (DBI) have signed a Memorandum of Understanding (MoU) aimed at poverty reduction and job creation through digital literacy and training of Nigerian youths.

    The Federal Ministry of Humanitarian Affairs and Poverty Reduction and the Small Business Training Solutions (SBTS), in partnership with the DBI, signed the agreement in Abuja.

    They signed the MoU at the office of the Minister of Humanitarian Affairs, Prof. Nentawe Goshwe Yilwatda, yesterday in Abuja. The parties said the pact aimed at bringing Nigerian youths into the mainstream of economic activities through digital empowerment.

    The President/CEO of DBI, Mr. David Daser, signed for his company, Mr. Evelyn Lewis, who is the Managing Director of SBTS, also signed for his company, while the Permanent Secretary in the Humanitarian Affairs Ministry, Dr. Yakubu Kofamata, signed for the ministry.

    The partnership is set to drive a large-scale capacity building under the Federal Government’s National NPower Programme, Dr. Kofamata, who represented the minister, said.

    He said the initiative was designed to promote digital literacy, employability, and job creation for Nigerian youths and vulnerable populations, aligning closely with the government’s poverty reduction and economic inclusion agenda.

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    Daser reiterated DBI’s commitment to delivering cutting-edge ICT training across its campuses nationwide, saying: “This collaboration underscores our mission to bridge the digital divide and build a competent workforce ready for the challenges of the digital economy.”

    Under the agreement, the ministry will provide policy support, facilitate trainee enrolment, and officially integrate the programme into NPower.

    SBTS said it would deploy its Intelligent Capacity Building Model (ICBM) and drive job placements through its extensive corporate networks.

    Also, as the foremost ICT training, education and capacity building institute in Nigeria, the DBI would offer high-quality training through its faculty and advanced facilities spread across all the geo-political zones in the country.

    Our correspondent gathered that a Joint Steering Committee would be established to oversee implementation, monitor progress, and ensure measurable and scalable impact.

    According to M. David, the partnership marks a significant leap in empowering Nigeria’s youths with globally competitive digital skills and creating tangible pathways to employment and entrepreneurship.

  • Fed Govt okays Apapa, Tin Can ports upgrade

    Fed Govt okays Apapa, Tin Can ports upgrade

    The federal government has approved the reconstruction of the Apapa and Tin Can Island Ports in Lagos in a major move to enhance efficiency and restore the global competitiveness of Nigeria’s seaports.

    Minister of Marine and Blue Economy Adegboyega Oyetola, who disclosed this during a stakeholder engagement in Lagos on Thursday, said the port rehabilitation is part of the Western Ports modernisation drive, with similar procurement processes underway for the Eastern ports.

    He said, “These upgrades are complemented by the deployment of digital solutions, including the Port Community System, the E-Call-Up System, and a unified One-Stop-Shop for port clearance. These interventions are designed to reduce delays, boost investor confidence, and reposition Nigeria as a regional maritime hub.”

    He added that efforts are ongoing to revive a national shipping line under a public-private partnership model.

    “Additionally, the Nigerian Maritime Administration and Safety Agency (NIMASA) has commenced preparatory activities for the disbursement of the Cabotage Vessel Financing Fund (CVFF). The process is being carefully structured to ensure transparency and regulatory compliance,” he said.

    Oyetola emphasised that the ministry has achieved consistent growth across its agencies, driven by digitisation and operational efficiency. He also celebrated Nigeria’s three-year record of zero piracy incidents, citing it as a testament to ongoing security reforms.

    “Investment opportunities are expanding in bonded terminals, dry ports, inland logistics corridors, and warehousing infrastructure. Our overarching objective is to make Nigeria the maritime and logistics gateway for West and Central Africa,” he added.

    On regional integration, the Minister disclosed Nigeria’s leadership in operationalising the Regional Maritime Development Bank under the Maritime Organisation of West and Central Africa (MOWCA), headquartered in Abuja.

    Stakeholders at the event commended the ministry’s direction and recent reforms.

    Pioneer President of the Ship Owners Association of Nigeria (SOAN), Engr. Greg Ogbeifun noted, “The federal government has done its part by addressing several challenges in the sector. The private sector should take advantage of the opportunities created by the government for job creation, economic development, training and employment of cadets.”

    Chairman of the Nigerian Ports Consultative Council (NPCC), Bolaji Sunmola, described the newly introduced National Policy on Marine and Blue Economy as a “transformative blueprint,” but stressed the need for implementation and local content enforcement.

    He said, “Nigeria loses over nine billion dollars annually due to under-enforcement of the Cabotage Act. This is an economic and patriotic emergency. Our ports must now prioritise indigenous participation in shipping, terminal operations, and maritime services.”

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    President of the Nigerian Chamber of Shipping (NCS), Aminu Umar, praised the government’s progress in tackling piracy and initiating the CVFF disbursement process, but called for continued collaboration between industry players and regulators.

    Also speaking, President of WISTA Nigeria, Dr. Odunayo Ani, commended the ministry for including Ms. Iroghama Ogbeifun on NIMASA’s governing board and hailed the government’s new policy thrust.

    “This stakeholder engagement marks a pivotal moment in our collective journey toward harnessing the full potential of Nigeria’s marine and blue economy. We believe that strategic collaboration is not only essential but indispensable to the successful implementation of this ambitious national blueprint,” Ani stated.

    The engagement brought together terminal operators, ship owners, freight forwarders, barge operators, maritime unions, and security agencies, including the Nigerian Navy, Customs, and Immigration.

  • Fed Govt decentralises approvals to hasten private, public partnerships

    Fed Govt decentralises approvals to hasten private, public partnerships

    President Bola Tinubu has granted the Infrastructure Concession Regulatory Commission (ICRC) authority to decentralise the approval process for Public-Private Partnership (PPP) projects.

    This is a move expected to speed up infrastructure delivery and attract broader private sector participation.

    Under the previous arrangement, all PPP projects, regardless of their value or scale, required clearance from the Federal Executive Council (FEC). This approach often delayed implementation, especially for smaller projects initiated by Ministries, Departments, and Agencies (MDAs).

    The new directive, however, introduces a tiered system where MDAs can independently approve projects below defined thresholds, based on ICRC guidelines.

    Director-General, Infrastructure Concession Regulatory Commission (ICRC), Dr Jobson Ewalefoh, confirmed the presidential approval in a statement issued by the Acting Head of Media and Publicity, Mr Ifeanyi Nwoko.

    Ewalefoh said projects valued below N10 billion for parastatals and agencies, and below N20 billion for ministries, will now be vetted and approved by Project Approval Boards (PABs) constituted under ICRC regulations. Only larger projects exceeding these limits, or those that require coordination across multiple ministries, will still need to go before the FEC.

     “All such projects must remain entirely privately funded without recourse to government guarantees or the national treasury,” Ewalefoh clarified. He stressed that every PPP project must be submitted to the ICRC for review and certification, and that a compliance certificate from the Commission remains mandatory before PABs or other bodies can grant approval.

    The Director- General described the reform as a departure from the previous one-size-fits-all approach to a more flexible and scale-sensitive model. He believes it will unlock a new pipeline of small and medium-scale PPP projects that can deliver measurable social and economic impact.

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     “This approval is a game-changer, especially for sectors like health, education, agriculture, and housing. We expect to see private sector-led investments in rural diagnostic medical centres, classroom construction, student hostels, and affordable housing schemes nationwide. All of these can now progress with less bureaucratic bottlenecks under the newly adopted process,” Ewalefoh said.

    He noted that the reform aligns with President Tinubu’s broader public procurement reforms aimed at ensuring consistency across government investment and financial systems. By decentralising approvals, the government aims to stimulate capital inflows, create jobs, and speed up delivery of critical infrastructure projects.

    President Tinubu had earlier assured of the administration’s commitment to strengthening the ICRC as the “engine room of Nigeria’s infrastructure revolution” during the recent Nigeria PPP Summit 2025, describing PPPs as a core pillar for achieving transformative national development.

    Ewalefoh added that the ICRC remains committed to its mandate to promote, guide, facilitate, and regulate the PPP framework across the country. He also noted the Commission will continue to work closely with key institutions in the infrastructure space, including the Bureau of Public Procurement (BPP), Ministry of Finance Incorporated (MOFI), and the Bureau of Public Enterprises (BPE).

    He urged MDAs to make full use of the new approval thresholds and upcoming guidelines, pointing out that PPPs remain a strategic instrument for delivering infrastructure aligned with the Renewed Hope Agenda of President Tinubu’s administration.

  • Fed Govt to ensure inclusive education in secondary schools nationwide

    Fed Govt to ensure inclusive education in secondary schools nationwide

    The Federal Government has reiterated its commitment to building a school system, where every learner regardless of gender, disability, socio-economic status or background, is welcomed, protected and empowered to thrive.

    Speaking in Abuja at a two-day workshop for special education officers from the 36 states and the FCT, organised by the National Senior Secondary Education Commission (NSSEC), Minister of State for Education Prof. Suwaiba Sa’idu Ahmad said Nigeria’s National Policy on Inclusive Education was developed to remove barriers to learning, ensure equity and improve access to quality education for all, especially learners with disabilities and those facing systemic disadvantages.

    The event was organised to boost the capacity of Special Education Desk Officers from the 36 States and Federal Capital Territory with the theme: “Promoting Inclusive, Safe and Gender-Sensitive Learning Environments for All.”

    Prof. Ahmad called for collaboration from school owners, development partners and state governments to promote inclusive and gender learning schools to promote national growth.

    Ahmed, who was represented by Deputy Director, Science and Technology Department of the ministry, Kehinde Osinaike, urged participants to make use of the opportunity provided to carry everyone along.

    She explained that the workshop was a critical step in translating gender and inclusive education policies into tangible and everyday practices.

    The minister said: “The National Policy on Inclusive Education was developed to remove barriers to learning, ensure equity, and improve access to quality education for all, especially learners with disabilities and those facing systemic disadvantages.

    “Alongside this, the National Policy on Gender Education provides a framework for eliminating gender disparities and ensuring that both girls and boys have equal opportunities to access, participate in and benefit from education.

    “But as we all know, policies are only as effective as their implementation and we must go beyond rhetoric.”

    The minister pledged President Bola Tinubu’s commitment to advancing inclusive and equitable education in the country.

    Executive Secretary NSSEC, Dr. Iyela Ajayi said the essence of the capacity workshop was to equip the desk officers with modern trends in implementing inclusive practices that would address Gender-Based Violence (GBV).

    Ajayi said that for there to be meaningful change, there was the need to empower the frontline officers, who are the direct link to our schools and communities.

    The NSSEC chief said: “Our goal is to transform our senior secondary schools into true sanctuaries of learning, where every child, irrespective of their abilities, gender, or background, feels valued and safe.”

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    “As Special Education Officers, you are the architects of inclusion in our educational system. You are the advocates, the monitors, and the support systems that ensure our policies translate into meaningful action.

    “Your role is central to dismantling barriers, fostering a culture of acceptance, and ensuring that no learner is left behind.”

    Executive Secretary, National Commission for Persons with Disabilities, Ayuba Gufwan, said that statistics showed that 35.5 million persons are living with disabilities, hence the need to address critical issues affecting them.

    He said that in reality, everyone created is living with one form of disability or the other and as such must not ignore their challenges.

    Gufwan expressed worry over the challenges faced by persons with disabilities, noting that most schools do not have ramps for easy access of PWDs.

  • Fed govt to link credit scores to NIN in sweeping credit reform drive

    Fed govt to link credit scores to NIN in sweeping credit reform drive

    The federal government is set to implement a sweeping reform that will link Nigerians’ credit scores to their National Identification Numbers (NIN) as part of a bold strategy to build a unified, transparent, and accountable credit system that leaves no citizen out of financial scrutiny.

    This development was announced by the Managing Director of the Nigerian Consumer Credit Corporation (CREDICORP), Uzoma Nwagba, during a “Meet the Press” engagement hosted by the Presidential Media Team at the State House, Abuja, on Tuesday.

    According to Nwagba, the initiative aims to consolidate credit information across all financial institutions, including banks, FinTechs, and microfinance outfits, into a centralised national credit bureau.

    This will create a robust database of every Nigerian’s credit history, ensuring every citizen is accurately scored based on their borrowing and repayment behaviour.

    “This is a fundamental shift in how credit works in Nigeria. Your NIN will now serve as the anchor for your credit profile. Whether you borrowed from a commercial bank, a microfinance institution, or a digital lender, that data will now be traceable and carry real consequences”, Nwagba declared.

    He noted that the days of loan evasion are fast drawing to a close, as the new system will enforce strict accountability.

    “If you default on your loan, it could affect your ability to renew your passport, your driver’s license, or even rent a house. There will be no hiding place,” he stressed.

    The CREDICORP boss explained that all lenders will now be mandated to report loan repayment activities.

    “More importantly, consequences for defaulters will be structured and deterrent, but not predatory. We are building a system that encourages responsible borrowing and rewards financial discipline”, he added.

    The effort will also incorporate financial and non-financial data to generate a comprehensive credit scoring algorithm for every Nigerian adult.

    “The ultimate goal is for everyone to have a credit score. This is not optional. We are creating a structure where your access to economic opportunities is directly tied to your financial behaviour”, Nwagba said.

    Beyond enforcing credit discipline, CREDICORP’s broader mandate, Nwagba revealed, aligns with President Bola Tinubu’s Renewed Hope Agenda to improve citizens’ quality of life, curb corruption, and stimulate industrial growth.

    “The first goal is to improve the quality of life. This is President Tinubu’s vision—to give Nigerians access to resources that can uplift their living conditions. The second is to address corruption. Many civil servants and young professionals turn to unethical practices because they lack access to capital to meet life’s basic demands”, Nwagba said.

    He noted that improved consumer credit access would reduce pressure on active income and discourage unethical shortcuts.

    “The third goal is to catalyse Nigerian industries. We aim to tie consumer credit to the purchase of locally manufactured goods. That way, we support local producers, drive demand, and create jobs—ultimately building a sustainable economy”, he continued.

    Nwagba called on all financial institutions to commit to the national credit framework, warning that the magnitude of the country’s credit gap—estimated at N183 trillion—requires full private sector participation.

    “No government in the world can provide that kind of money. Financial institutions must step up. With the right infrastructure and transparency, lenders will be more confident, interest rates will drop, and Nigerians will finally have access to affordable credit”, he urged.

    CREDICORP is also spearheading an ambitious youth-focused credit program called YouthCred, aimed at empowering young Nigerians, especially National Youth Service Corps (NYSC) members, with structured credit support.

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    “YouthCred is not an idea; it is a reality. It has started. The President has already announced it, and we’ve put all platforms, systems, and processes in place. We are tightening the launch sequence,” Nwagba confirmed.

    The initiative is part of a broader consumer credit push targeting Nigerians aged 18 to 35.

    Executive Director of Operations at CREDICORP, Olanike Kolawole, added that the agency is collaborating with partner banks, tech platforms, and national youth-focused institutions to scale the program.

    “YouthCred is more than a loan product—it’s a generational investment in trust, financial confidence, and economic inclusion. As we expand beyond NYSC to cover youths aged 18 to 35, we’re ensuring they develop healthy financial habits while accessing the tools to thrive in the economy”, Kolawole said.

    With the credit-NIN integration, the government is also transforming how Nigerians interface with civic processes.