For millions of Nigerians excluded from formal borrowing because they lack a credit history, a smartphone or reliable internet, the Federal Government is offering a new entry point.

The Nigerian Consumer Credit Corporation, CREDICORP, has unveiled SPARK, a USSD-based credit service that allows users to apply for consumer loans from basic mobile phones.

Interested users can dial 347333#, without needing internet access or a smartphone.

SPARK was introduced at CREDICORP’s “CREDICORP for All” showcase in Aba, Abia State, where more than 1,000 residents, traders and artisans explored credit opportunities.

The service is targeted mainly at first-time borrowers with little or no formal credit record.

CREDICORP says successful repayment will help users build a credit profile, potentially opening the door to larger loans and other financial services in future.

In other words, SPARK is not just about accessing money; it is about creating a financial identity for people who have never had one.

CREDICORP’s wider consumer-credit programmes cover mobility solutions such as CNG and electric vehicles, digital devices, energy products including solar panels and generators, home improvement items, and essentials such as healthcare, clothing, food and beverages.

However, the announcement does not confirm that every listed item can currently be financed through SPARK.

The corporation says the service will become more widely available before the end of 2026.

The corporation says it has facilitated more than ₦53.5 billion in consumer credit for over 351,000 Nigerians, with women accounting for about 59 per cent of beneficiaries.

Prospective applicants have also been warned to avoid unofficial agents or websites demanding upfront payments for guaranteed approval.