The Nigerian Consumer Credit Corporation (CREDICORP) has announced the launch of a ₦20 billion Consumer Credit Fund.
The initiative aims to enable Nigerians to purchase locally assembled cars, tricycles, and motorbikes, promoting domestic manufacturing and economic growth.
The program, part of CREDICORP’s Project S.C.A.L.E. (Securing Consumer Access for Local Enterprises), was developed in collaboration with the National Automotive Design and Development Council (NADDC).
READ ALSO:11 FG poverty alleviation initiatives to apply for
READ ALSO:How to apply for Nigeria consumer credit scheme loan
READ ALSO:CREDICORP drives consumption with consumer credit
The fund is expected to improve accessibility to affordable financing for locally-produced vehicles, enhancing the viability of the domestic automotive sector.
NADDC, in a tweet on Thursday, said, “Big News for Nigeria’s Auto Industry! CREDICORP & NADDC have launched a ₦20 billion Consumer Credit Fund to aid Nigerians purchase locally-assembled cars, tricycles, & motorbikes. This initiative supports local manufacturers & boosts the economy!
“Empowering Nigerians with Credit Access! CREDICORP & NADDC’s ₦20B Consumer Credit Fund aims to make owning locally-assembled vehicles easier, promoting the growth of Nigeria’s automotive sector. Eligible buyers can apply at participating local auto sales points! #MadeinNigeria”
The kickoff event for the fund is scheduled to take place on Thursday, December 5, 2024, at 3:00 PM at the Ajuji Greenwich Hotel, located on Joseph Gomwalk Street, Gudu, Abuja.
The event, which will detail the framework for accessing credit facilities through the programme, is expected to attract industry stakeholders and the general public.
