FG Introduces USSD Loan Platform, Allows Nigerians to Apply Without Internet

Federal Government has introduced a new mobile-based credit service designed to make loans accessible to Nigerians without requiring smartphones, internet connectivity or mobile banking applications.

The initiative, known as SPARK, was developed by the Nigerian Consumer Credit Corporation (CREDICORP) to expand access to consumer credit, particularly for first-time borrowers and individuals with little or no formal credit history.

Under the arrangement, interested Nigerians can access the service by dialling 347333# on their mobile phones, making it possible for users of basic feature phones to access the platform without an internet connection.

CREDICORP explained that the initiative would also help beneficiaries establish formal credit histories through responsible borrowing and timely repayment, potentially improving their credit profiles and opening doors to further financial opportunities.

The platform was unveiled during the corporation's CREDICORP for All showcase in Aba, Abia State, where more than 1,000 residents were introduced to different consumer credit opportunities.

The event featured demonstrations on accessing credit for market women and traders, presentations on the YouthCred programme for young Nigerians, and financing opportunities for commercial transport operators.

Locally assembled tricycles were also showcased under the corporation's Securing Consumer Access for Local Enterprises (S.C.A.L.E.) initiative, which provides transport operators with access to vehicles through credit arrangements.

Speaking at the event, CREDICORP Managing Director and Chief Executive Officer, Uzoma Nwagba, said the initiative was designed to make consumer credit accessible to ordinary Nigerians rather than restricting opportunities to a privileged few.

He explained that SPARK would provide a simpler route for Nigerians to begin establishing credit records, while other programmes under the corporation would support traders, young entrepreneurs and transport operators.

Representing Abia State Governor, Alex Otti, Chinenye Mba-Uzoukwu said the state government was creating an enabling environment for businesses to grow and responsible consumer lending to thrive.

Similarly, the Managing Director of the Ministry of Finance Incorporated (MOFI) and CREDICORP board member, Armstrong Ume Takang, said the initiative demonstrated how government-backed investments could support local businesses, stimulate manufacturing and improve economic opportunities for citizens.

CREDICORP disclosed that it had facilitated more than ₦53.5 billion in consumer credit for over 351,000 Nigerians since commencing operations, with women accounting for approximately 59 per cent of the beneficiaries.

The corporation said SPARK was expected to become more widely accessible across the country before the end of 2026.

Prospective applicants are advised to verify the applicable loan conditions, eligibility requirements, interest rates and repayment arrangements before accepting any credit offer.