How To Access FG’s New USSD Loan Service For Phones, Other Gadgets

The Federal Government has introduced a USSD-based credit service that enables Nigerians to access loans for mobile phones and other gadgets without requiring a smartphone or internet access.

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

Interested Nigerians can access the service by dialling 347333# on their mobile phones.

According to CREDICORP, SPARK is designed to simplify access to credit while helping borrowers build formal credit histories through responsible loan repayments.

The corporation said repayment records could gradually improve beneficiaries’ credit profiles and provide access to further financial opportunities.

It added that the service was expected to become more widely available to Nigerians before the end of 2026.

The product was unveiled at CREDICORP’s “CREDICORP for All” showcase in Aba, Abia State, where the corporation presented consumer credit opportunities to more than 1,000 residents.

The event brought together beneficiaries, financial institutions, local vendors and government representatives to demonstrate how consumer credit could support businesses and improve livelihoods.

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

The tricycles were made available through CREDICORP’s Securing Consumer Access for Local Enterprises (S.C.A.L.E.) initiative.

Speaking at the event, Managing Director and Chief Executive Officer, Uzoma Nwagba, said consumer credit should be accessible to Nigerians beyond those served by traditional financial institutions.

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

Nwagba said the initiative was intended to provide credit opportunities for traders, young people and transport operators. At the same time, SPARK would offer Nigerians a simple way to begin building their credit histories.

Chinenye Mba-Uzoukwu, Chief Principal to Abia State Governor Alex Otti, said the state government was creating an environment to support businesses and responsible consumer lending.

Representing the governor, Mba-Uzoukwu said the state was working to make it easier for initiatives such as CREDICORP to support traders, young people and families.

Similarly, 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.

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.