FG Announces Commencement Of Loan Scheme For All Nigerians (See How To Apply)

President Bola Tinubu has approved the commencement of the Consumer Credit Scheme, which aims to increase access to essential goods and services for Nigerians, enabling them to make pivotal purchases on credit and pay over time.

CityNews Nigeria  reports that the Special Adviser to President Bola Tinubu on Media and Publicity, Ajuri Ngelale, explained in a statement on Wednesday that the initiative is directed at boosting economic activity and supporting social mobility across the country.

Ngelale’s statement read, “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.

“President Tinubu is committed to ensuring that every hardworking Nigerian has the opportunity to improve their quality of life through structured financial mechanisms like the Consumer Credit Scheme.” 

The presidential spokesman further revealed that the scheme, which will be administered by the Nigerian Consumer Credit Corporation (CREDICORP), is designed to ensure every economically active Nigerian has a reliable credit score, bolstering their access to consumer credit.

“This initiative is a catalyst for economic activity and a cornerstone of our strategy to drive sustainable economic growth.

“By facilitating major purchases such as housing, vehicles, education, and healthcare, the scheme is poised to significantly impact the national economy, stimulating demand for goods and services, enhancing job creation, and ultimately driving local industry growth,” Ngelale stated.

Ngelale further disclosed that the scheme will first target civil servants, with plans to expand to the general public.

How to Apply

Interested applicants should visit the official application portal below to begin application.

www.credicorp.ng