President Tinubu Launches Consumer Credit Scheme To Boost Economic Growth


Habeeb Ibrahim 

President Bola Tinubu has approved the launch of the Consumer Credit Scheme, aimed at providing access to consumer credit for Nigerians.

The information was announced in a statement issued on 24th of April by Ajuri Ngelale, Special Adviser to the President on Media and Publicity “This scheme is a significant step towards achieving the President’s vision of economic prosperity for all Nigerians. By providing access to consumer credit, we are empowering citizens to improve their living standards and contribute to the country’s economic development.”

He emphasized that the scheme is designed to facilitate crucial purchases such as homes, vehicles, education, and healthcare.

Nigerian Consumer Credit Corporation (CREDICORP) will implement the scheme, which aims to strengthen Nigeria’s credit reporting systems, offer credit guarantees and wholesale lending to financial institutions, and promote responsible consumer credit.

The scheme is part of the government’s efforts to enhance the quality of life for Nigerians and stimulate economic growth. It will be rolled out in phases, starting with members of the civil service and eventually expanding to members of the public.

Interested Nigerians can express their interest in receiving consumer credit by visiting the CREDICORP portal. The deadline for expression of interest is May 15, 2024.

This move is expected to increase access to credit for Nigerians, enabling them to improve their living standards and contribute to the country’s economic development.


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