It is in the news that President Bola Ahmed Tinubu has approved the commencement of the first phase of the Consumer Credit Scheme for workers across the country.
The statement issued on Tuesday, April 23rd, by the President’s Media Adviser, Ajuri Ngelale, believes that every hardworking Nigerian should have access to social mobility, with consumer credit playing a key role in actualising this vision.
The statement explained that 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. The scheme which will be rolled out in phases, is starting with members of the civil service and subsequently to members of the public.
For a better understanding of the concept of Consumer Credit, it serves as a key component of modern economies, enabling citizens to enhance their quality of life by accessing goods and services upfront, and paying responsibly over time. It enables speedy purchases such as homes, vehicles, education, and healthcare, which are essential to achieving the aspirations of those applying.
It is believed that individuals will build credit histories, and unlock more opportunities for a better life when the scheme is well implemented. In addition to this benefit, the increased demand for goods and services which will stimulate local industries and better job creation, is another perceived advantage that is seen from the Consumer Credit Scheme.
The question that remains in the heart of many Nigerians are: will its effective implementation ease the current economic challenges facing the country? Should the Nigerians encourage the Presidency in this direction? Will it act as a stimulus to the nation’s economy? These and more are some of the questions that need answers as the President approves the takeoff of the Consumer Credit scheme.
Send your response to www.blossomnigeria.com.
