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₦180tr Fed Govt’s Consumer Credit Scheme Set for Takeoff

The Consumer Credit Scheme of the Federal Government will take off with a target of N180 trillion available as loans to the beneficiaries, the agency in charge said at the weekend.

The Consumer Credit Corporation (CreditCorp) plans a take-off with 500,000 beneficiaries by the end of next year.

Already, two million Nigerians have enrolled through the agency’s website. No fewer than 80 million have been identified by the agency as qualified for the scheme.

This is part of key major campaign promises of President Bola Ahmed Tinubu, along with the student loan scheme, which is also due to begin in September.

Chief Executive Officer of CreditCorp, Uzoma Nwagba, told The Nation that the agency was on the last lap of planning for the take-off of the programme.

The goal is to make it possible for economically active Nigerians to have access to funding on credit for items that could make life comfortable for them without having to pay upfront.

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