No fewer than 100,201 Nigerians, including over 35,000 civil servants, have benefited from the Nigerian Consumer Credit Corporation (CREDICORP), an initiative established by President Bola Tinubu to expand access to affordable consumer credit nationwide.
Presidential spokesperson, Mr Sunday Dare, who made this disclosure, stated that the initiative, launched as part of Tinubu’s economic reform agenda, aimed to democratise access to credit and improve quality of life by enabling responsible and affordable borrowing.
Goods and services accessed included vehicles, solar home systems, digital devices, home improvement items, equipment and machinery, and other essential consumer items.
Quoting CREDICORP, the presidential aide said a remarkable 64 per cent of the beneficiaries were first-time credit users, a significant breakthrough in a country where access to formal credit had historically been a challenge for average citizens.
Dare added that the initiative aligned with Tinubu’s broader economic vision to boost local production, fight corruption by reducing the desperation linked to lack, and empower ordinary Nigerians, with tools for a better life.
Writing on his verified X-handle: @SundayDareSD on Wednesday, the presidential media aide stated that by expanding consumer credit responsibly, the administration hoped to stimulate domestic demand and support local industries.
Shedding more light on the scheme, Managing Director of CREDICORP, Dr Salisu Abdul, said, “This isn’t just about loans. It’s about unlocking the dignity and potential of millions who were previously excluded from the formal credit system.
“This credit changed everything for me.”
Aisha Yusuf, a teacher in Kano, was able to purchase a solar power system for her home. “We used to suffer frequent blackouts. Now my children can study at night,”
Civil servants across the nation have also hailed the programme as a timely intervention.
“I got a laptop and a motorbike. This has boosted both my side hustle and my official productivity,” said Chinedu Okafor, a public officer based in Enugu.
Deji Elumoye
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