The Federal Government has introduced a USSD-based credit platform to enable Nigerians to access consumer loans and build formal credit histories using basic mobile phones without requiring internet access.
The service, known as SPARK, was launched by the Nigerian Consumer Credit Corporation (CREDICORP) to expand access to consumer credit, particularly for first-time borrowers and people with little or no formal credit history.
Interested Nigerians can access the platform by dialling 347333# on their mobile phones.
CREDICORP said the initiative was designed to simplify access to credit while helping beneficiaries establish repayment records that could strengthen their credit profiles and improve their chances of accessing larger financial opportunities in the future.
The corporation unveiled SPARK during its “CREDICORP for All” showcase in Aba, Abia State, where more than 1,000 residents were introduced to affordable consumer credit opportunities.
The event brought together local traders, financial institutions, government officials and other stakeholders to demonstrate how credit could support businesses and improve livelihoods.
Activities included demonstrations on accessing credit for market women and traders, presentations on the YouthCred programme for young entrepreneurs, and the showcasing of credit-backed tricycles for transport operators.
The tricycles were made available through CREDICORP’s Securing Consumer Access for Local Enterprises (S.C.A.L.E.) initiative, which supports access to productive assets through credit arrangements.
Speaking at the event, CREDICORP Managing Director and Chief Executive Officer, Uzoma Nwagba, said consumer credit should be accessible to working Nigerians rather than restricted to a privileged few.
He explained that the initiative was designed to provide practical financial opportunities for market women, young people, transport operators and other Nigerians seeking access to credit.
Representing Abia State Governor, Alex Otti, the governor’s Chief Principal, Chinenye Mba-Uzoukwu, said the state government was committed to creating an enabling environment for businesses to grow and responsible consumer credit to thrive.
Similarly, the Managing Director of the Ministry of Finance Incorporated and CREDICORP board member, Armstrong Ume Takang, said the initiative demonstrated how government-backed financial interventions could support local enterprises, manufacturers and ordinary citizens.
CREDICORP disclosed that it had facilitated more than N53.5 billion in consumer credit for over 351,000 Nigerians since commencing operations, with women accounting for approximately 59 percent of beneficiaries.
The corporation said SPARK was expected to become more widely available across the country before the end of 2026.