Federal Initiative Expands Digital Access: New Credit Scheme Makes Tech Devices Affordable for Nigerian Workers
The Nigerian government has unveiled a nationwide digital device financing program through the Nigerian Consumer Credit Corporation (CREDICORP), aimed at making digital technology more accessible to the working population.
Building on a successful pilot phase that helped over 1,000 Nigerians acquire smartphones through affordable credit arrangements, CREDICORP is now expanding its reach. The ambitious new phase targets more than 15,000 working Nigerians, offering them access to smartphones, laptops, and other digital devices through flexible credit options.
To implement this large-scale initiative, CREDICORP has partnered with E-Finance Company as one of its Participating Financial Institutions, while receiving technical support from Credlock. The collaboration aims to streamline the credit delivery process and ensure efficient program execution.
CREDICORP Managing Director Uzoma Nwagba described the program as a natural extension of the organization’s mission. The initiative aligns with broader government objectives to boost digital inclusion, enhance workforce productivity, and modernize Nigeria’s labor force.
Dayo Fabayo, CEO of Credlock, highlighted the transformative potential of the program. “Every smartphone represents potential to learn, to work, to access opportunity, and to live with dignity,” Fabayo stated. “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.”
The program represents a significant step toward bridging the digital divide in Nigeria, where access to digital devices remains a barrier to economic participation for many workers. Through this initiative, the government aims to empower more Nigerians with the tools needed for success in an increasingly digital economy.
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