TheCable

President Bola Tinubu has approved the takeoff of the first phase of the consumer credit scheme.

In a statement on Wednesday, Ajuri Ngelale, special adviser to the president on media and publicity, said in line with Tinubu’s directive to expand consumer credit access to Nigerians, the Nigerian Consumer Credit Corporation (Credicorp) has launched a portal for Nigerians to express interest in the scheme.

Ngelale said the scheme was conducted in partnership with financial institutions and cooperatives across the country to broaden consumer credit availability.

Ngelale said the scheme, which aims to broaden consumer credit availability, will be rolled out in phases, starting with civil servants, then extended to the general public.

“Working Nigerians interested in receiving consumer credit can visit credicorp.ng to express interest. The deadline is May 15, 2024,” he said.

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

“The president believes every hardworking Nigerian should have access to social mobility, with consumer credit playing a pivotal role in achieving this vision.”

Consumer credit serves as the lifeblood of modern economies, enabling citizens to enhance their quality of life by accessing goods and services upfront, and paying responsibly over time.