In a major step toward financial empowerment for Nigerian youth, the leadership of CREDICORP has commenced a strategic collaboration with the Nigerian Education Loan Fund (NELFUND) to develop specialized credit products targeted at students and young professionals within the NELFUND ecosystem.
At a high-level engagement held earlier this week, both teams convened to outline a roadmap for this transformative partnership, aimed at bridging the access-to-credit gap for learners and early-career individuals across Nigeria. The initiative seeks to complement the government-backed NELFUND student loan scheme by introducing flexible and innovative financing options tailored to the real needs of Nigerian youths in today’s economy.
According to officials present at the meeting, the partnership will focus on designing youth-centric credit instruments that go beyond tuition — covering needs such as learning materials, digital tools, skill development programmes, and micro-business support for students enrolled in tertiary institutions.
“This partnership is about unlocking the full potential of the Nigerian student,” said a CREDICORP spokesperson. “We want to provide not just access to education, but the financial confidence to thrive during and after school. Young people need tools and capital to drive their ambitions, and that’s what we’re committed to delivering.”
NELFUND, which was established to manage and disburse interest-free loans to eligible Nigerian students, welcomed the collaboration as timely and complementary. The Executive Secretary of the Fund praised CREDICORP’s commitment to youth development and noted that the alliance will significantly expand the support system for beneficiaries of the student loan programme.
“This is a bold step in the right direction,” he said. “We are not only looking at tuition financing, but a holistic support structure that will enable students to meet the practical and professional demands of the modern world.”
The joint effort will also explore digital platforms and alternative credit scoring models to reach underserved students who may lack traditional financial history. It will prioritize financial literacy, responsible borrowing, and repayment education to instill lifelong money management habits in young Nigerians.
Analysts view the partnership as part of a growing trend in Nigeria’s financial ecosystem where private sector innovation is aligning with public policy goals to drive inclusive development. With rising youth unemployment and widening skills gaps, targeted credit support is being recognized as a crucial enabler of human capital development.
The CREDICORP–NELFUND collaboration is expected to roll out in pilot stages across selected institutions before scaling nationwide. Stakeholders from both the education and finance sectors have hailed the move as a blueprint for future-oriented, youth-driven policy delivery.
As Nigeria’s youth population continues to rise, initiatives like this underscore a shift toward equipping them not just with education, but with the financial tools to shape their future.
