• 50,000 Nigerians to benefit from N100b FG initiative

As part of its efforts to make vehicle ownership more accessible, CREDICORP, a Federal Government agency, has partnered with Autochek to launch a nationwide auto financing programme. 

The initiative was marked by a handover ceremony in Abuja yesterday, where 20 new beneficiaries received their vehicles, further expanding access to affordable transportation across the country.  
    
In his remarks at the handing-over ceremony, the Managing Director/Chief Executive Officer of Nigerian Consumer Credit Corporation (CREDICORP), Uzoma Nwagba, said with affordable financing, single-digit interest rate, and a seamless process, car ownership is no longer a distant dream but reality.  
   
According to him, vehicle ownership has been out of reach for many Nigerians due to high costs and limited financing options. The Managing Director said CREDICORP has expanded its credit access to pre-owned cars through this partnership with Autochek, ensuring that more Nigerians can own cars with credit tailored to their financial realities. 

He emphasised the importance of access to consumer credit in improving the quality of life for Nigerians, enabling them to purchase goods like vehicles, solar panels, and home improvements. 
Nwagba said the Bola Tinubu administration has allocated N100 billion for this initiative, aiming to support 50,000 beneficiaries. 
   
He said CREDICORP will finance more than 10,000 vehicles in the country in the coming months, to expand access to consumer credit to 50 per cent of Nigeria’s working population by 2030.