From Our Correspondent
The Tinubu Stakeholders Forum (TSF) has commended President Bola Ahmed Tinubu for rolling out the Consumer Credit Scheme, describing it as a historic and groundbreaking development initiative.
TheNewsZenith reports that TSF in a statement on Saturday noted that the initiative would shape the nation’s financial landscape.
The statement was jointly signed by the group’s Chairman Ahmad Sajoh and Secretary Afolabi Josiah.
It asserted the scheme would benefit 500,000 Nigerians in the first instance.
“We commend the Federal Government’s bold step in launching the Consumer Credit Scheme.
“It is a groundbreaking initiative that aligns with President Bola Ahmed Tinubu’s vision to empower Nigerians and improve their quality of life.
“The rollout of the scheme which will benefit 500,000 Nigerians in the first instance is a testament to the administration’s commitment to fulfilling its campaign promises.
“It will also assist in addressing the financial needs of the people.
“It is against this backdrop that we welcome the announcement by the Chief Executive Officer of the Consumer Credit Corporation (CREDICORP), Uzoma Nwagba, that successful applicants would begin to receive their loans next week.
“The Federal Government has already released N100 billion for the initial disbursement,” the statement read in part.
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TSF noted that the scheme was designed to remove structural, market and policy barriers that have historically limited access to credit.
It will thus provide a practical solution to everyday financial challenges facing Nigerians.
“The scheme is a visionary project that enables Nigerians to access credit for purchasing essential household items without the immediate need for cash.
“This initiative will significantly ease the financial burden on individuals and families. It will also foster a more inclusive economy and drive financial empowerment across the nation.
“The long-term goal is ambitious, aiming to have 50 per cent of the working populace participating in the scheme by 2030.
“This is a clear reflection of the administration’s dedication to sustainable economic growth.”.
TSF commended the government for this timely intervention to ensure that consumer credit becomes accessible to all Nigerians.
“This initiative, which directly touches the lives of everyday citizens, will enhance economic opportunities. It will also stimulate productivity and social well-being across the country.
“We urge all relevant agencies to ensure the seamless implementation of this scheme,” the group stated.
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