The CEO of Financeblog9ja, Finance Queen, has called on Nigeria’s Federal Government to restructure its youth digital empowerment strategy by establishing a dedicated, ‘zero-interest laptop loan‘ scheme for young Nigerians, slamming the recently launched C.L.I.C.K.D. initiative by the Consumer Credit Corporation (CREDICORP) as financially unrealistic for Nigerian Youths.
While CREDICORP’s C.L.I.C.K.D. scheme offers a low monthly interest rate of 1% to 2% on laptop acquisitions, Financeblog9ja argues that imposing interest payments on unemployed graduates and job seekers with no verified source of income is counterproductive. Amid Nigeria’s high cost of living and rising unemployment, Financeblog9ja warns that the current structure risks trapping millions of youths in loan defaults rather than providing the digital access it promises.
To solve this, Financeblog9ja is urging the Ministry of Finance and the National Assembly to establish a statutory Youth Digital Fund as a direct first-line charge in the national budget.
Financeblog9ja says;
bridging Nigeria’s digital divide requires sustainable social intervention, not commercial debt traps for vulnerable job seekers.
The proposed funding framework includes:
- POCA Asset Recovery Integration: Supplementing the budget allocation with funds from the Economic and Financial Crimes Commission’s Confiscated and Forfeited Properties Account. This aligns directly with the Proceeds of Crime Act 2022 (POCA), which mandates that recovered assets be repurposed for public benefit.
- NELFUND Model Precedent: Mirroring the success of the ₦50 Billion Nigerian Education Loan Fund (NELFUND) to provide 100% zero-interest credit structures.
- 12-Month Repayment Window: Implementation managed by the Federal Ministry of Communications, Innovation and Digital Economy under Dr. Bosun Tijani, to deploy a robust digital infrastructure offering flexible 12-month repayment terms.
