The Nigerian Consumer Credit Corporation (CrediCorp) has reached more than 300,000 beneficiaries and disbursed over ₦45.2 billion in consumer credit during the first half of 2026, marking significant progress towards its target of reaching 500,000 beneficiaries by December.
Managing Director and Chief Executive Officer of CrediCorp, Uzoma Nwagba, disclosed this while outlining the corporation’s mid-year performance, saying the initiative is expanding access to affordable credit for Nigerians and supporting the Federal Government’s broader economic agenda.
According to him, the corporation’s rapid expansion reflects growing demand for structured consumer credit and the increasing participation of financial institutions and lending partners in the programme.
Nwagba said the consumer credit scheme is designed to improve Nigerians’ purchasing power by providing responsible financing for essential goods and services, including household appliances, education, healthcare, mobility and other productive needs.
He noted that expanding access to consumer credit would not only improve the quality of life for beneficiaries but also stimulate domestic demand, support local manufacturing and create jobs across value chains.
The CrediCorp chief expressed confidence that the corporation would surpass its target of 500,000 beneficiaries by the end of the year, citing ongoing partnerships with financial institutions, employers, manufacturers and technology platforms to widen access to credit.
He added that the corporation remains focused on building a sustainable consumer credit ecosystem anchored on responsible lending, financial inclusion and strong repayment culture.
The Federal Government launched the consumer credit initiative as part of its economic reforms to deepen financial inclusion, boost household purchasing power and stimulate economic growth by making affordable credit more accessible to Nigerians.
