“DIAL 347333#”: FG LAUNCHES SPARK, A USSD LOAN SERVICE FOR NIGERIANS WITHOUT INTERNET

The Federal Government has launched a new USSD-based credit service, SPARK, designed to help Nigerians access loans and build formal credit histories using basic mobile phones.

The loan service, introduced by the Nigerian Consumer Credit Corporation (CREDICORP), targets Nigerians, particularly first-time borrowers who have limited or no credit history, ValidViewNetwork reports.

HOW TO APPLY

Interested Nigerians can dial 347333# on their mobile phones to access the service without requiring a smartphone or internet connection.

According to CREDICORP, SPARK is designed to simplify access to consumer credit while helping beneficiaries establish repayment records that could improve their credit profiles and open up further financial opportunities.

“By establishing repayment records through responsible borrowing, beneficiaries can progressively improve their credit profiles and create pathways to greater financial opportunities,” the corporation said.

THE LAUNCH

The product was unveiled at CREDICORP’s ‘CREDICORP for All’ showcase in Aba, Abia State, where the corporation highlighted affordable credit opportunities for more than 1,000 residents .

CREDICORP Managing Director and Chief Executive Officer, Uzoma Nwagba, said the initiative was designed to make consumer credit accessible beyond traditional financial institutions.

“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,” Nwagba said .

THE NUMBERS

According to CREDICORP, more than ₦53.5 billion in consumer credit has been facilitated for over 351,000 Nigerians since operations commenced.

Women account for approximately 59 per cent of beneficiaries .The corporation said the service is expected to become more widely available before the end of 2026.

WHY IT MATTERS

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For millions of Nigerians who rely on feature phones and cannot afford data subscriptions, SPARK is more than a loan service. It is a pathway into the formal financial system.Credit histories are the foundation of financial inclusion.

Without them, Nigerians cannot access mortgages, business loans, or other financial products that require a track record of responsible borrowing.

SPARK is designed to build that track record, one small loan at a time.The service has been launched. The code has been provided. The question is whether it will reach the people it was designed to serve. ValidViewNetwork reports.