President Bola Tinubu revealed that over 100,000 Nigerians have benefited from the federal government’s consumer credit initiative, marking a significant milestone in his administration’s efforts to boost economic empowerment.
The announcement was made during his Democracy Day address, where he highlighted the program’s role in improving access to credit for low- and middle-income citizens.
The consumer credit scheme, introduced earlier this year, aims to provide affordable loans to Nigerians for essential purchases such as household appliances, education, and small business investments.
Tinubu emphasised that the initiative is part of his administration’s broader strategy to stimulate economic growth, reduce poverty, and enhance financial inclusion. By easing access to credit, the government hopes to empower more citizens to improve their living standards and contribute to the nation’s economic development.
The president also reaffirmed his commitment to implementing policies that directly benefit ordinary Nigerians, particularly in areas such as job creation, infrastructure development, and social welfare.
He noted that the success of the consumer credit program demonstrates the government’s dedication to fulfilling its promises under the Renewed Hope Agenda.
Economic analysts have praised the initiative, stating that increased access to consumer credit can help drive consumption, support small businesses, and reduce reliance on informal lending systems with high interest rates.
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cc: Daily Post Ng
