President Tinubu approves first phase of Consumer Credit Scheme

President Bola Tinubu has today approved the takeoff of the first phase of the Consumer Credit Scheme to facilitate the purchase of houses and cars by working Nigerians.

This was disclosed in a statement today by the presidential spokesman Ajuri Ngelale stating that the Consumer Credit Scheme will enhance the quality of life citizens by allowing them to “access goods and services upfront, paying responsibly over time”.

President Bola Ahmed Tinubu

According to the statement, the scheme is to facilitate crucial purchases, such as homes, vehicles, education, and healthcare, essential for ongoing stability to pursue their aspirations,”.

“Through responsible repayment, individuals build credit histories, unlocking more opportunities for a better life. Additionally, the increased demand for goods and services stimulates local industry and job creation and the President strongly believes every hardworking Nigerian should have access to social mobility, with consumer credit playing a pivotal role in achieving this vision.”

In line with the President’s directive, the Nigerian Consumer Credit Corporation (CREDICORP) has launched a portal for Nigerians to express interest in receiving consumer credit.

Nigerian Consumer Credit Scheme

In line with that, working Nigerians interested in receiving consumer credit can visit CREDICORP’s website to express interest before the deadline date of May 15, 2024.

The scheme is set to be rolled out in phases, starting with members of the civil service and cascading to members of the public.

Dolupo Balogun

Written by Boom RadioNG