Credit Score Recovery Plan for Nigerians in 2025

Your credit score is more important than ever in 2025. Here's how to fix and rebuild it in Nigeria.

Your credit score is more important than ever. Whether you want a loan from a bank, a credit facility from a fintech app, or even to qualify for installment payment plans, your credit score plays a major role. If your score has dropped due to missed payments, loan defaults, or blacklisting, the good news is that recovery is possible.

Here’s a step-by-step credit score recovery plan for Nigerians in 2025.

Step 1: Know Where You Stand
Before fixing your score, you need to understand it. Request your report from any of Nigeria’s licensed credit bureaus:
You have one free report per year from each bureau.

Step 2: Identify the Problems
When reviewing your report, look out for:

• Unpaid or defaulted loans
• Late or missed payments
• Incorrect information (e.g., loans you already paid off)
• Duplicate entries
• Multiple loans from different apps
• Highlight anything that may be harming your credit score.

Step 3: Clear Your Outstanding Debts
This is the most important step in your recovery plan.
Pay off loans as soon as possible. If you can’t pay in full, negotiate a settlement or repayment plan with the lender. Ask the lender to issue a clearance letter and report your payment to the credit bureau.
Lenders are more likely to cooperate if they see you’re making an effort to repay.

Step 4: Dispute Errors on Your Report
If you notice mistakes on your credit report (e.g., debts you already paid or loans you never took), you can dispute them.
How to dispute:

• Contact the bureau with proof (e.g., payment receipts)
• Follow up until the error is corrected
• Once corrected, your score can improve significantly.

Step 5: Rebuild with Positive Credit Behavior
Once the damage is controlled, start building a healthier credit profile. You can take small, manageable loans. Pay back early, and avoid borrowing from too many apps at once. Use only regulated financial platforms.Consistency is key. Even 3–6 months of positive behaviour can lift your score.

Step 6: Avoid These Common Mistakes
While rebuilding, don’t do the following:

• Apply for multiple loans in a short period
• Borrow from unlicensed or shady loan apps
• Miss payment deadlines, even by one day
• Ignore updates on your credit status
  These mistakes can slow or reverse your recovery progress.

Step 7: Monitor Your Credit Regularly
Don’t wait until you need a loan to check your score. Instead:

• Monitor your credit report every 3–6 months
• Check your credit score on Scorewise
• Keep a record of your repayments and communications with lenders

Bonus Tips: What’s New
In 2025, expect more digital tracking, increased use of credit data, and stricter lending conditions. To stay ahead:

• Link your BVN and NIN properly to avoid ID mismatch issues
• Use digital wallets and savings apps that report to credit bureaus
• Focus on financial literacy, understand your rights, and how credit works

A low credit score isn’t the end, it’s a temporary challenge that you can overcome.

Download Scorewise on the on Apple store or playstore to check your credit score, see where you stand, and how to improve it.