‘The scheme is expected to cover everyday household items including automobiles, furniture, gadgets etc‘
His Excellency, President Bola Ahmed Tinubu’s administration has approved the sum of One Hundred Billion Naira (N100bn) only for the Consumer Credit Scheme.
Below Are 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, furniture, 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●- The N100bn is a catalytic fund that has not yet been withdrawn as the committee in charge is still finalizing the procedure for the scheme.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.
This is a worthy initiative by the Asiwaju administration. I can’t wait to see it become a reality. The Committee should expadite action sharply.