FG launches new device credit programme

By : Owede Agbajileke

Date: 2 December 2025 12:38pm WAT

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The Federal Government, through the Nigerian Consumer Credit Corporation (CREDICORP), has launched a national digital device credit programme that will make smartphones, laptops, and other essential digital tools more affordable for working Nigerians.

In a statement on Tuesday, it said the rollout followed the success of the pilot phase, which enabled over 1,000 Nigerians to access smartphones through affordable credit.

The corporation announced that, in this new phase, it is scaling the programme to cover over 15,000 working Nigerians, who will be able to access smartphones, laptops, and other digital devices.

It noted that to deliver this initiative at scale, CREDICORP is working with one of its Participating Financial Institutions, E-Finance Company, and is receiving technology support from Credlock.

Reflecting on the launch, CREDICORP’s Managing Director, Uzoma Nwagba, noted that this is a natural progression of its work.

He explained that the initiative aligns with the government’s broader agenda to expand digital inclusion, enhance productivity, and support a modern workforce. According to him, access to essential digital tools should not be a luxury for Nigerian workers, stressing that the programme is designed to remove long-standing financial barriers that prevent many from owning devices critical for work, learning, and innovation.

“From mobility to renewable energy, we have witnessed the profound impact that access to credit can have on people’s daily lives,” he said. “Nigerians are ambitious and hardworking; they simply need fair pathways to acquire the tools that move them forward. Digital devices now sit at the centre of learning, earning, and productivity, and expanding access to them is a critical step in building a more digitally ready nation.”

Credlock’s CEO, Dayo Fabayo, emphasised the power of turning everyday devices into pathways for progress.

He said: “Every smartphone represents potential to learn, to work, to access opportunity, and to live with dignity. At Credlock, we believe the device in someone’s hand can be the bridge to their financial future. Working with CREDICORP and E-Finance allows us to scale that vision to millions of Nigerians.”

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