BY OLAMIDE OJUOKAIYE, Lagos
The Nigerian Consumer Credit Corporation (CREDICORP) has launched its Securing Consumer Access for Local Enterprises (SCALE) project to improve Nigerians’ quality of life, stem corruption, and create jobs.
The managing director and chief executive officer of CREDICORP, Engr Uzoma Nwagba, disclosed this in a statement made available to journalists in Lagos, saying it is a part of President Bola Ahmed Tinubu’s vision for the acceleration of consumer credit access for Nigerians.
According to him, the Securing Consumer Access for Local Enterprises project is a bold step toward supporting Nigerian enterprises by accelerating demand, which grows local industries and creates jobs.
He said, “This programme connects Nigerian consumers with credible local manufacturers and vendors across critical sectors while ensuring consumers can afford these products via affordable consumer credit. CREDICORP seeks to drive one million credit-backed consumers to local vendors and manufacturers.
“CREDICORP invites local vendors and manufacturers to participate in this transformative programme. Interested parties should submit an Expression of Interest (EOI) by visiting the official SCALE website. Key Impact Areas: The SCALE programme will empower consumers and producers to thrive by driving access to locally-made products and incremental value addition across five high-impact thematic areas.
“Home Improvement Furniture, Appliances and Building Materials, SCALE will enable households to upgrade their living standards by heavily incentivising consumer credit for locally-manufactured furniture, building materials, and appliances.”
“Mobility, especially CNG and Electric vehicles, SCALE aims to promote accessible transportation by facilitating access to compressed natural gas (CNG) and electric vehicles, cars, motorbikes, keke, and bicycles. This will enable cheaper and cleaner transportation and stimulate growth and value addition in Nigeria’s automotive sector.”
Nwagba added, “The public has followed CREDICORP’S journey from what was a series of ideas of Mr President, to now several Participating Financial Institutions, to about 30,000 civil servants receiving consumer credit for life-enhancing goods and services, and our ongoing expansion to the public. We are driving towards a product-led approach to credit, enabling and tailoring consumer credit for specific themes that influence our beneficiaries while also heavily incentivising and driving consumption of locally produced goods and services along those themes.
