The Nigerian Consumer Credit Corporation (CREDICORP) launched its first Compressed Natural Gas (CNG) mobility initiative in Yola, Adamawa State, on September 23, 2026, advancing its national program to deploy 10,000 credit-backed, locally assembled vehicles. The event, held at Mahmud Ribadu Square, signified CREDICORP’s expansion into the North-East, a region previously underserved by its mobility projects. The rollout, part of the corporation’s S.C.A.L.E. (Securing Consumer Access for Local Enterprises) initiative, aims to connect consumer credit with Nigerian production, fostering economic growth and sustainable livelihoods.
Key stakeholders at the activation included Uzoma Nwagba, Managing Director/CEO of CREDICORP; Umar Tolihat, CEO of Subcity Global; Pankaj Sharma, CEO of DAG Industries Ltd; Alhaji Muhammadu Jauro Baba, District Head of Jimeta; Hon Wunfe Anthony, Commissioner of Transport; Jide Awolowo, Chief Investment Officer of PI-CNG; and Olanike Kolawole, Executive Directors of CREDICORP. Their presence underscored the collaborative effort between government, private sector, and local leadership to drive the initiative forward.
CREDICORP’s Yola activation introduced the first CNG-powered three-wheelers to the North-East, a strategic move aligning with the Federal Government’s energy transition agenda. By financing clean-energy vehicles, the corporation seeks to make sustainable mobility accessible to working Nigerians without financial strain. This initiative addresses both environmental concerns and the need for affordable transportation solutions, particularly in regions with limited infrastructure.
The 10,000-vehicle rollout, which has already reached South-South, North-Central, and South-West states, including Port Harcourt, FCT, Ijebu-Ode, Akure, Lagos, and Ile-Ife, now extends to Adamawa. Future phases will target Bornoto and the South-East, ensuring nationwide coverage. CREDICORP’s program has already enabled over 301,000 Nigerians to access consumer credit for mobility, digital devices, home improvements, and other productive assets, according to the corporation’s data.
Nwagba emphasized the dual significance of the CNG vehicles, stating, “This is not just about deploying clean energy—it’s about empowering Nigerians to build better lives through responsible credit. When a worker can acquire a CNG vehicle and pay over time, they gain economic mobility while supporting local industries.” The CEO highlighted the initiative’s role in creating demand for Nigerian manufacturers, assemblers, and vendors, reinforcing the S.C.A.L.E. initiative’s core objective.
The Yola rollout was executed through partnerships with Subcity Global, which served as the vendor and aggregator, and DAG Bajaj, which supplied the locally assembled CNG three-wheelers. Credit administration was managed by Letshego and Accion Microfinance Banks, ensuring financial accessibility for beneficiaries. These collaborations reflect CREDICORP’s ecosystem-driven approach to expanding credit access while prioritizing local production.
Public-interest implications of the initiative include reduced greenhouse gas emissions, job creation in the manufacturing sector, and improved livelihoods for low-income earners. By prioritizing CNG vehicles, CREDICORP aligns with Nigeria’s climate goals while addressing the high cost of traditional fuel. The program also mitigates the financial burden on consumers, offering a structured repayment model that avoids debt traps.
The S.C.A.L.E. initiative, which underpins the vehicle rollout, connects consumer purchasing power with Nigerian enterprises. This strategy not only enhances the economic resilience of individuals but also stimulates domestic industries, creating a multiplier effect on national growth. CREDICORP’s focus on locally assembled goods ensures that the benefits of the program remain within the country’s economy.
CREDICORP’s broader mission extends beyond mobility, encompassing digital devices, home improvements, and life essentials. The corporation’s credit programs have enabled millions of Nigerians to acquire assets that improve their quality of life, with over 301,000 beneficiaries reported to date. This expansion underscores the role of consumer credit as a tool for economic empowerment and social development.
The Yola activation coincided with a broader push to integrate credit-backed assets into Nigeria’s economic fabric. By making productive tools accessible to working-class citizens, CREDICORP aims to bridge the gap between financial inclusion and sustainable development. The initiative’s success hinges on partnerships with local manufacturers, financial institutions, and community leaders, as highlighted by the event’s attendees.
CREDICORP’s approach has drawn attention for its potential to transform Nigeria’s economic landscape. By leveraging credit to drive demand for local products, the corporation addresses systemic challenges such as unemployment and underdevelopment. The CNG vehicle rollout, in particular, exemplifies how targeted financial interventions can catalyze both environmental and economic progress.
The Adamawa launch also signals CREDICORP’s commitment to reaching underserved regions. The North-East, historically marginalized in economic initiatives, now benefits from a program that prioritizes accessibility and sustainability. This shift aligns with national efforts to promote equitable development across Nigeria’s diverse regions.
Critics, however, have raised concerns about the long-term viability of CNG infrastructure in rural areas. While the initiative offers immediate benefits, questions remain about maintenance, fuel availability, and scalability. CREDICORP has not publicly addressed these challenges, leaving room for further scrutiny as the program expands.
The Yola event marked a milestone in CREDICORP’s national strategy, with stakeholders expressing optimism about its impact. Local leaders, including District Head Alhaji Muhammadu Jauro Baba, praised the initiative for its potential to uplift communities and stimulate economic activity. Their endorsements reflect the program’s alignment with regional development priorities.
CREDICORP’s 10,000-vehicle rollout is part of a larger vision to make consumer credit a cornerstone of Nigeria’s economic growth. By prioritizing affordability, sustainability, and local production, the corporation aims to create a self-sustaining cycle of investment and development. The Adamawa activation serves as a blueprint for future expansions, demonstrating the feasibility of such initiatives in diverse contexts.
The corporation’s efforts underscore the transformative power of responsible credit in addressing systemic economic barriers. As CREDICORP continues its nationwide rollout, the focus remains on empowering Nigerians to achieve financial independence while contributing to the nation’s broader developmental goals. The Yola launch, with its emphasis on clean energy and local enterprise, exemplifies this dual mandate.
CREDICORP’s initiatives highlight the intersection of finance, sustainability, and economic equity. By providing accessible credit for essential assets, the corporation not only improves individual livelihoods but also strengthens the national economy. The Adamawa rollout, with its emphasis on CNG vehicles and local partnerships, represents a model for future programs aimed at fostering inclusive growth and environmental stewardship.