Abuja – June 2025 — The Federal Government has announced that its long-awaited interest-free consumer credit scheme will officially launch in July 2025, offering Nigerians access to essential goods and services through structured, affordable financing.
According to the National Orientation Agency (NOA) in its 47th edition of the Explainer, the scheme will be managed by Credicorp, a government-backed entity, and will provide up to ₦2 million in interest-free or low-interest loans to eligible individuals across the country.
The initiative, a flagship component of President Bola Tinubu’s economic reform agenda, is designed to deepen financial inclusion, promote responsible borrowing, and stimulate consumer-driven growth in the Nigerian economy.
It will operate in partnership with licensed financial institutions and fintech companies to reduce lending risks, ensure efficient credit delivery, and widen access to underserved demographics.
The NOA highlighted that this development reflects the Tinubu administration’s commitment to building a credit-based economy that supports entrepreneurship, personal advancement, and national productivity.
In addition to this major policy highlight, the latest Explainer also features several ongoing initiatives and policy reforms aimed at improving governance, enhancing social protection, and unlocking opportunities for Nigerian citizens.
For more details, Nigerians are encouraged to visit www.noa.gov.ng or interact with CLHEEAN, the NOA’s official chat assistant.
