Abiodun JIMOH
In a powerful show of grassroots empowerment, the Nigerian Consumer Credit Corporation (CREDICORP), in partnership with Sub-City Project Global Consult and Letshego Microfinance Bank, has distributed 50 locally assembled tricycles to young Nigerians in Ikorodu under an asset-backed hire-purchase scheme.
The initiative, which took place on Monday, July 28, is part of CREDICORP’s S.C.A.L.E. program—Securing Consumer Access for Local Enterprises—aimed at driving inclusive economic growth through access to productive tools. The tricycles were handed over to beneficiaries—mostly members of the Tricycle Owners’ Association of Nigeria (T.O.A.N.)—through affordable credit arrangements facilitated by Letshego Microfinance Bank
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Speaking at the event, Umar Tolihat Imam, Managing Director of Sub-City Project Global Consult, described the initiative as a “gateway to independence, financial stability, and personal achievement” for Nigerian youths. He emphasized the project’s goal of turning effort into enterprise by enabling beneficiaries to become self-reliant transportation entrepreneurs.
“This program represents more than just vehicles; it is structured empowerment,” said Mrs. Olanike Kolawole, Executive Director of Operations at CREDICORP. “We are not giving handouts. We are offering access—through credit, through structure, and through faith in the hard work of Nigerian youth.”
The tricycles were sourced from Simba TVS and assembled locally, reinforcing the scheme’s secondary objective of boosting domestic manufacturing and job creation. Repayments for the hire-purchase will be made under the Sub-City platform, ensuring a revolving credit structure that allows future beneficiaries to tap into similar opportunities.
“This is sustainable development in motion,” added Aderoju Adebowale, Managing Director of Letshego MFB. “We’re creating a ripple effect—each repayment funds the next dream.”
Also present were key stakeholders from CREDICORP, Simba TVS, Eonsfleet, Wydep Consulting, Brand Edges Media, and other partners, who were acknowledged for their contributions in making the project a success.
The Ikorodu rollout is the latest in a series of nationwide CREDICORP interventions targeting underserved communities with tools for economic participation. Alongside similar programs such as YouthCRED and C.A.L.M., the S.C.A.L.E. initiative reinforces CREDICORP’s commitment to responsible, inclusive lending that lifts Nigerians from survival to stability.
“This is what it means to build with Nigeria’s youth—not just for them,” Imam said. “We see them. We believe in them. And together, we’re powering their journey to success.”
For more details, visit: www.subcityprojectglobal.com or www.credicorp.ng.
