The Nigerian Consumer Credit Corporation (CREDICORP) has extended its nationwide rollout of 10,000 credit-backed, locally assembled vehicles to Ile-Ife, Osun State, advancing its drive to put productive assets within reach of working Nigerians through affordable consumer credit.
The
rollout, held at the historic Ooni of Ife Palace in the presence of His
Imperial Majesty, the Ooni of Ife, marks another major step in CREDICORP’s
expanding national mobility programme, taking credit-backed vehicle ownership
deeper into communities across Nigeria.
Having
advanced through North Central and now the South West — including Ijebu-Ode and
Ile-Ife — the rollout proceeds next to Adamawa and Borno in the North East,
before moving into the South East, as CREDICORP progressively delivers the
national programme across the country.
The
mobility rollout is part of CREDICORP’s broader effort to make consumer credit
an everyday tool for Nigerians to own useful and productive assets, improve
their livelihoods and live better lives today. Across its programmes, more than
301,000 Nigerians nationwide have now accessed CREDICORP-supported consumer
credit spanning mobility, digital devices, home improvement, life essentials
and other productive assets.
The
vehicle rollout is being delivered under CREDICORP’s S.C.A.L.E. initiative —
Securing Consumer Access for Local Enterprises — which connects the purchasing
power created by consumer credit with Nigerian production and enterprise. By
financing locally assembled vehicles and other Nigerian-made goods, CREDICORP
seeks to achieve two objectives at once: improving the lives and earning
capacity of consumers while creating sustained demand for local manufacturers,
assemblers and businesses.
Speaking
at the rollout, Engr. Uzoma Nwagba, Managing Director/CEO of CREDICORP, said the Ile-Ife activation
represents one part of a much larger national undertaking.
“What
Nigerians are seeing in Ile-Ife today is one stop in a much bigger journey. We
are taking consumer credit across the country and putting productive assets
into the hands of hardworking people who can use them to earn, grow and live
better now.
“When a
Nigerian can acquire a vehicle today and pay responsibly over time, we have not
only financed an asset. We have expanded that person’s economic possibilities
while creating demand for something assembled here in Nigeria. Multiply that
across thousands of people, communities and industries, and consumer credit
becomes a powerful engine for both better lives and national economic growth.”
The
presence of the Ooni of Ife at the rollout in his Palace gave particular
significance to the occasion. Ile-Ife, widely regarded as the cradle of
Yoruba civilisation, combines immense cultural heritage with a long
tradition of commerce and enterprise. Bringing CREDICORP’s expanding national
credit programme into the city reflects the Corporation’s determination to
ensure that access to formal consumer credit reaches Nigerians in communities
across every part of the country.
The
Ile-Ife activation continues the momentum of CREDICORP’s mobility
interventions, which include programmes supporting commercial transport
operators as well as the 10,000 Women in Mobility Programme, designed to expand
vehicle ownership and economic opportunity for Nigerian women.
CREDICORP
works through licensed financial institutions and an expanding ecosystem of
manufacturers, vendors and community partners to deliver its programmes. For
the Ile-Ife rollout, Gamma Mobility supported beneficiary profiling and
onboarding, Simba TVS supplied the locally assembled three-wheelers, and Accion
Microfinance Bank supported the credit administration process.
Through
S.C.A.L.E. and its wider consumer credit programmes, CREDICORP continues to
build a national marketplace in which responsible credit gives Nigerians the
purchasing power to own more, earn more and live better now, while that
purchasing power increasingly supports Nigerian industry and jobs.
For
more information, visit: www.credicorp.ng.
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