The federal government has announced the approval of the first phase of the Consumer Credit Scheme.
This was disclosed in a Press release statement by the Special Adviser to the President, Ajuri Ngelale on Tuesday.
According to the statement, Consumer credit allows citizens the opportunity to access goods and services upfront, paying responsibly over time.
In addition, citizens could build credit histories, through prompt payment and get access to even further opportunities for a better life.
The statement reads in part “President Bola Tinubu has approved the takeoff of the first phase of the Consumer Credit Scheme.
“Consumer credit serves as the lifeblood of modern economies, enabling citizens to enhance their quality of life by accessing goods and services upfront, paying responsibly over time. It facilitates 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.
“The President believes every hardworking Nigerian should have access to social mobility, with consumer credit playing a pivotal role in achieving this vision.
“This initiative, in collaboration with financial institutions and cooperatives nationwide, aims to broaden consumer credit availability.”
Furthermore, it is stated that working Nigerians interested should visit the website credicorp.ng on or before May 15, 2024.
