News Investigators/ The Tinubu Media Volunteers have applauded President Bola Tinubu’s administration for enabling more Nigerians to have access to consumer credit through the Nigerian Consumer Credit Corporation (CREDICORP).
In a statement signed by its Chairman, Chukwudi Enekwechi, the group noted that it was remarkable that over 100,000 Nigerians have benefited from the initiative in just about a year.
“It is also remarkable that CREDICORP, as an initiative of the Tinubu administration, is meant to raise the social status of many Nigerians by granting them access to credit, which was hitherto unthinkable.
“Out of 100,201 persons who have benefited from the latest initiative, 35,000 civil servants were included as beneficiaries.
“Some of the goods that were accessed include vehicles, solar home systems, digital devices, home improvements items, equipment and machinery and other essentials consumer items.
“We dare say that this is the first time beneficiaries of the consumer credit initiative have access to it, and this is a major breakthrough in a country where access to formal credit facilities remains a herculean challenge.
We are, however, aware that for consumer credit to make a real difference in the economy, it must reach 50 per cent of the country’s GDP, but it is gratifying that the administration has taken the first step to institutionalize the laudable scheme.
“We acknowledge that the initiative aligns with the administration’s vision to support local goods and vehicles production, eliminate corruption by reducing the desperation associated with lack and a deliberate policy to empower Nigerians with necessary tools for improved life.
“To us, this is a life-changing scheme that would greatly uplift the livelihood of millions of Nigerians, and we commend the President for setting the ball rolling,” it added.
The group urged managers of the initiative to ramp up their process to ensure that more Nigerians benefit either as consumers or service providers.
