Source: Punch Newspaper
This initiative marks a transformative moment for Nigerians, particularly civil servants, who will soon enjoy the benefits of accessible credit. With up to N3.5 million available for each applicant, this scheme demonstrates the Federal Government’s commitment to improving financial inclusion and economic mobility. By eliminating the need for upfront cash, this program enables citizens to purchase essential household items while enjoying reduced interest rates and flexible repayment terms.
With the rollout set to begin shortly, the first wave of beneficiaries will receive their loans through PFIs like Credit Direct. This collaboration between the government and major financial institutions not only makes credit more accessible but also strengthens consumer confidence.
As the program expands, it will be a vital resource for individuals seeking to improve their living conditions, covering education, healthcare, and home purchases. By 2030, with 50% of the working population targeted, the Consumer Credit Loan aims to significantly uplift millions, in line with President Bola Tinubu’s vision for a better quality of life for all citizens.
