Tinubu approves credit scheme to facilitate purchase of cars and houses in Nigeria

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

The Special Adviser on Media and Publicity to the President, Ajuri Ngelale, disclosed this in a statement on Wednesday in Abuja.

He said the scheme would enhance the quality of life of the citizens by allowing them to access goods and services upfront and paying responsibly over time.

The statement read: “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.

READ ALSO: Tinubu promises to address Niger Delta infrastructural challenges

“The President 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 to expand consumer credit access to Nigerians, the Nigerian Consumer Credit Corporation (CREDICORP) has launched a portal for Nigerians to express interest in receiving consumer credit.

“This initiative, in collaboration with financial institutions and cooperatives nationwide aims to broaden consumer credit availability.

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

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