SPARK USSD Loan Goes Live as Nigerians Rush to Borrow Offline

The Federal Government’s new offline consumer loan platform, SPARK, is already processing disbursements after Nigerians rushed to access it. The service is run by the Nigerian Consumer Credit Corporation (CREDICORP) and allows applications through basic mobile phones without a smartphone or internet connection.

Users dial *347*333#. Many callers are getting a message that demand is exceptionally high: “Welcome to spark Spark. Disbursement are ongoing, traffic is at all time high.”

What CREDICORP has disclosed

CREDICORP says disbursements are ongoing. It has not released specific details on loan amounts, interest rates or repayment arrangements. Nigerians are advised to review borrowing costs and repayment conditions carefully before accepting any credit offer through SPARK.

The USSD platform is meant to expand formal consumer credit to Nigerians who have faced barriers to conventional lending, especially people without smartphones or reliable internet access. It forms part of the Federal Government’s push to expand consumer lending and promote responsible borrowing.

Credit book crosses N61 billion

The SPARK rollout follows progress in CREDICORP’s wider consumer lending activities. The corporation said it had facilitated more than N61 billion in credit for 353,561 Nigerians across all 774 local government areas as of October 31, 2026.

Women accounted for 58.8% of beneficiaries. Young Nigerians represented close to half of those who accessed credit.

CREDICORP said its consumer credit programme supports purchases and expenses across several categories. They include mobility, covering vehicles and other transportation needs; home improvement, covering repairs, renovations and upgrades; solar energy, covering clean energy solutions; digital devices, covering smartphones, laptops and other technology products; life essentials, covering healthcare and education; and household needs, covering everyday living essentials.

Digital device loans also in focus

The government has also outlined the application process for Nigerians seeking affordable financing to buy laptops, smartphones, tablets and other digital devices under the Credit for Laptops, Internet, Connectivity, and Knowledge Digital Devices (C.L.I.C.K.D.) Programme. The initiative was launched through CREDICORP to improve access to digital devices by providing consumer credit to eligible Nigerians. Applicants must complete an online registration form before the scheme can consider them.

For borrowers, the immediate test is whether SPARK can handle the traffic and whether CREDICORP will publish clear loan terms. Consumers need to know the cost of credit before they accept any offer.