Nigeria’s President Bola Tinubu has said over 1,500 civil servants have benefited from the affordable consumer credit scheme, enabling them to purchase vehicles, life essentials and improve living condition.
Speaking at a joint session of the National Assembly in commemoration of the 2025 Democracy Day, Tinubu said the credit scheme is part of the government’s commitment towards enabling access to facilities in the country.
The support is provided through the Nigerian Consumer Credit Corporation (CREDICORP), enhancing quick and responsible credit access for citizens of the country.
Also, in his speech, Tinubu announced plans to expand financial support to the youths including corps members with the establishment of another credit scheme starting in July.
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The President had in his New Year 2025 message promised to help small businesses and individuals access financial support. In line with this, he created the National Credit Guarantee Company Limited (NCGC).
With an initial capital of N100 billion, the new credit company has the responsibility to expand credit access for Micro, Small and Medium Enterprises (MSMEs), small corporates, manufacturers, consumers, and large businesses across Nigeria.
In addition, the company will help rebuild public confidence in the financial system by helping unbanked areas, enhancing industrialisation and creating employment.
