FG Introduces New Loan Service Nigerians Can Access Without Internet

(President Bola Tinubu. Photo Credit: State House)
The Federal Government has introduced a loan service called SPARK.

It runs on USSD, so people can use it on basic phones without needing internet or a smartphone.

The service was unveiled by the Nigerian Consumer Credit Corporation, known as CREDICORP.

It is aimed mainly at first time borrowers who have little or no credit history.

The USSD code shown for SPARK is 347333#.

However, the service is not yet confirmed to be running across the country.

CREDICORP says it should be more widely available before the end of 2026.

SPARK is meant to help borrowers build a repayment record, which could make it easier to get other financial services later.

It is a loan, not a free grant, so borrowers must pay it back under the agreed terms.

CREDICORP says its wider programmes cover mobility (such as CNG and electric vehicles), digital devices, energy (generators and solar panels), home items and essentials like healthcare, clothing and food.

It has not confirmed that all of these can be financed through SPARK yet.

The launch took place at a showcase in Aba, Abia State, where more than 1,000 residents attended.

CREDICORP says it has already given over 53.5 billion naira in consumer credit to more than 351,000 Nigerians, and about 59 per cent of them are women.

The corporation has not yet published full details on loan limits, interest rates, repayment periods or eligibility.

People should avoid unofficial agents or websites that ask for upfront payment to guarantee a loan.