The federal government has launched a nationwide digital device credit programme designed to make smartphones, laptops, and other essential tools more accessible to working Nigerians.
The initiative, announced by the Nigerian Consumer Credit Corporation (CREDICORP), follows a successful pilot that enabled more than 1,000 citizens to acquire smartphones through affordable credit. In this new phase, CREDICORP plans to scale access to over 15,000 workers across the country.
Why It Happened
According to Uzoma Nwagba, Managing Director of CREDICORP, the programme is a natural extension of government efforts to deepen digital inclusion and strengthen the productivity of Nigeria’s workforce. He explained that many workers remain shut out of the digital economy because of cost barriers, and the new credit programme removes those hurdles by offering fair, structured financing.
The project is being rolled out in partnership with E Finance Company as a participating financial institution, with technology support from Credlock.
Who Benefits
Working Nigerians stand at the centre of the programme, gaining access to smartphones, laptops, and other devices crucial for earning, learning, and daily productivity. Employers and small businesses also benefit, since improved digital access enhances efficiency and broadens economic participation. CREDICORP’s partners, including E Finance Company and Credlock, gain from scaling financial and technological solutions nationwide.
Who Loses
Traditional device markets that rely solely on high upfront payments may experience reduced patronage as credit based acquisition becomes more attractive. Individuals who remain outside formal employment systems may also miss out unless the scheme expands to cover wider demographics.
What the Recognition Signifies
The launch signals a government committed to building a digitally ready nation. It highlights CREDICORP’s growing role as a catalyst for consumer credit and showcases how blended financing and technology can drive national development. Credlock CEO, Dayo Fabayo, noted that every device represents a pathway to learning and opportunity, underscoring the programme’s potential to reshape digital participation across Nigeria.
What to Expect Next
The rollout is expected to widen in phases, with more workers onboarding as E Finance Company processes applications. Government officials suggest that future expansions may cover additional digital tools and extend to millions of Nigerians. With the success of this stage, the programme could evolve into a broader nationwide consumer credit ecosystem aimed at supporting mobility, education, and energy access.
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