FG Unveils SPARK USSD Credit Service for Nigerians Without Smartphones

The Federal Government has introduced a USSD-based consumer credit service designed to enable Nigerians access loans through basic mobile phones without requiring internet connectivity or smartphones.

The service, known as SPARK, was unveiled by the Nigerian Consumer Credit Corporation (CREDICORP) as part of efforts to expand access to consumer credit, particularly for first-time borrowers with little or no formal credit history.

CREDICORP announced 347333# as the USSD code for accessing the service, although its nationwide operational availability has not yet been confirmed.

The corporation said SPARK was expected to become more widely available before the end of 2026, urging interested Nigerians to watch for updates on its rollout.

The initiative is designed to help borrowers establish repayment records that could strengthen their credit profiles and improve their chances of accessing other financial services in the future.

What Nigerians can use CREDICORP loans for

CREDICORP’s wider consumer credit programmes focus on five major areas aimed at helping Nigerians acquire essential goods, household equipment and productive assets.

The categories include:

– Mobility: Compressed natural gas (CNG) and electric vehicles.
– Digital devices: Laptops, smartphones and tablets.
– Energy solutions: Generators and solar panels.
– Home improvement: Furniture, household appliances and building materials.
– Life essentials: Healthcare, apparel, food and beverages.

However, these categories represent CREDICORP’s broader consumer credit priorities. The announcement does not establish that all the listed goods and services can currently be financed through SPARK specifically.

Why the Federal Government introduced SPARK

According to a report by Vanguard published on Sunday and sighted by PUNCH Online on Monday, SPARK was unveiled at CREDICORP’s CREDICORP for All showcase in Aba, Abia State.

The event brought together more than 1,000 residents, beneficiaries, participating financial institutions, local vendors and government representatives to demonstrate how consumer credit could support livelihoods and economic activities.

Activities included credit-access demonstrations for market women and traders, presentations on the YouthCred initiative for young Nigerians, and the display of credit-backed tricycles for transport operators.

The event also featured locally assembled tricycles made available through CREDICORP’s Securing Consumer Access for Local Enterprises initiative, known as S.C.A.L.E.

CREDICORP’s Managing Director and Chief Executive Officer, Uzoma Nwagba, said the initiative was intended to extend access to consumer credit beyond traditional financial institutions.

“Consumer credit should not be a privilege reserved for a few. It should be an opportunity available to every working Nigerian.

“Today in Aba, Abia State, in Nigeria’s South East, we are demonstrating what that means in practical terms: credit for market women, a financial head start for young people, productive assets for transport operators, and with SPARK, a simple way for Nigerians to begin building their credit histories. This is how we make credit work for the people,” he said.

Chinenye Mba-Uzoukwu, principal to Abia State Governor Alex Otti, who represented the governor at the event, said the state government was creating an environment that would support business growth, investment and responsible access to credit.

“Under Governor Alex Otti’s leadership, Abia State is putting the conditions in place for businesses to grow, investments to flourish and responsible credit to reach more of our people,” Mba-Uzoukwu said.

“By strengthening the enabling environment for enterprise, we are making it easier for initiatives such as CREDICORP to support traders, young people and hardworking families across the state.”

Also speaking, Armstrong Ume Takang, Managing Director of the Ministry of Finance Incorporated and a CREDICORP board member, said the showcase demonstrated how government policies could translate into economic opportunities.

“Through CREDICORP, we are seeing how well-structured public investment can stimulate enterprise, support local manufacturers and deliver measurable economic impact directly to citizens,” Takang said.

CREDICORP said 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 beneficiaries.

What Nigerians should know before using SPARK

SPARK is a credit service, not a grant. Anyone who obtains a loan will be required to repay it in accordance with the agreed terms.

CREDICORP has not yet provided comprehensive public details of the service’s loan limits, interest rates, repayment periods or full eligibility requirements in the reports announcing its unveiling.

Prospective borrowers are therefore advised to wait for official operational guidelines before applying. They should also avoid unofficial websites, agents or individuals demanding upfront payments in exchange for guaranteed loan approval.