The Nigerian Consumer Credit Corporation (CREDICORP) has launched a new credit-backed initiative in Ogun State as part of efforts to expand access to consumer financing and support economic growth across the country.
The scheme was unveiled in Ijebu-Ode, where CREDICORP officials said the programme is designed to help Nigerians acquire productive assets, particularly vehicles, through affordable and structured repayment plans. The initiative forms part of the corporation’s broader strategy to promote asset ownership, strengthen local manufacturing and improve livelihoods.
Chairman of CREDICORP’s Board, Aderemi Abdul-Bojela, disclosed that more than 227,000 Nigerians have already benefited from the corporation’s various credit programmes, gaining access to vehicles, digital devices, solar energy solutions, work tools and home improvement financing.
According to him, the Ogun rollout aligns with the organisation’s commitment to supporting locally assembled vehicles and stimulating economic activities through responsible consumer credit. He noted that the programme also complements other initiatives aimed at improving mobility and expanding opportunities for entrepreneurs and workers.
The initiative operates under CREDICORP’s S.C.A.L.E. framework—Securing Consumer Access for Local Enterprises—which seeks to connect consumer purchasing power with local production, job creation and industrial development.
Executive Director of Operations, Olanike Kolawole, described the programme as a long-term intervention designed to promote inclusive growth by enabling hardworking Nigerians to access essential assets while paying over time.
CREDICORP currently partners with dozens of financial institutions nationwide and says it has maintained a strong repayment record while supporting growth across multiple sectors of the economy. The corporation was established to expand access to consumer credit and help Nigerians improve their quality of life through responsible financing.
