FG Unveils SPARK USSD Service for Consumer Loans Without Internet

The Federal Government, through the Nigerian Consumer Credit Corporation (CREDICORP), has unveiled SPARK, a USSD-based service intended to help Nigerians access consumer credit through basic mobile phones without internet access. The service is expected to support first-time borrowers, including people with little or no formal credit history. CREDICORP says its wider credit programmes can cover items such as solar solutions, generators, digital devices, household goods, healthcare, food, clothing and transport assets. However, it has not confirmed which of these products will be immediately available through SPARK. The service was presented at a consumer-credit showcase in Aba, Abia State. CREDICORP says it has facilitated more than ₦53.5 billion in credit for over 351,000 Nigerians since it began operations. SPARK is a loan service, not a grant. Full details on loan limits, interest rates, repayment periods and eligibility have not yet been published. Prospective borrowers should wait for official rollout information and avoid anyone demanding upfront fees for guaranteed approval.

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