Group Commends Federal Government on Improved Access to Consumer Credit

The Tinubu Media Volunteers have commended the Federal Government for improving access to consumer credit through the Nigerian Consumer Credit Corporation (CREDICORP), describing the initiative as transformative and life-changing for many Nigerians.

In a statement signed by its Chairman, Chukwudi Enekwechi, the group noted that over 100,000 Nigerians have already benefited from the scheme within its first year of operation.

Enekwechi lauded the Tinubu-led administration for launching the initiative, which he said would significantly enhance living standards and promote financial inclusion.

“It is remarkable that CREDICORP, as an initiative of the Tinubu administration, aims to raise the social status of many Nigerians by granting access to credit—something that was previously unthinkable,” he said.

According to him, out of the 100,201 beneficiaries, 35,000 are civil servants. He also listed items accessed through the scheme to include vehicles, solar home systems, digital devices, home improvement products, equipment and machinery, and other essential consumer goods.

Describing it as a “major breakthrough” in a country where formal credit access has historically been difficult, Enekwechi urged continued expansion of the programme.

He emphasized the need for the credit scheme to grow to at least 50% of the nation’s GDP to have substantial economic impact, and expressed optimism that it would also support local production and help curb corruption by reducing desperation driven by financial hardship.

“This programme is aligned with the administration’s vision to boost local production of goods and vehicles, empower Nigerians, and uplift livelihoods. We commend the President for setting the ball rolling,” he said.

The group also called on the managers of the scheme to intensify efforts to broaden participation among consumers and service providers nationwide.

Meanwhile, the Managing Director of CREDICORP, Uzoma Nwagba, recently announced plans to link Nigerians’ credit scores to their National Identification Numbers (NIN), a move aimed at creating a unified and transparent credit system across the country.