18/03/2024
♻️President Tinubu's Administration Approves N100bn For The Consumer Credit Scheme.
Things To Know About The Consumer Credit Scheme:
●- President Bola Tinubu has restated his desire several times to ensure Nigerian consumers can afford goods and services by designing a scheme that allows them to pay overtime for consumables as obtainable in many parts of the world.
●- The scheme is expected to cover everyday household items including automobiles, furnitures, gadgets etc.
●- Also included is a functional mortgage system that will provide affordable housing to average Nigerians where they can repay over a very long period.
●- The N100bn is a catalytic fund that has not yet been withdrawn as the committee in charge is still finalizing the procedure for the scheme.
●- When the scheme kicks off, eligible Nigerians will have more access to goods and services as they can repay for such services over a long period thereby reducing pressure caused by instant demand for full payment.
●- The scheme is also expected to curb the propensity for corruption as the President seeks to disincentivize the long-standing menace by ensuring all classes of Nigerians have access to basic goods and services without any undue pressure.
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