The rollout of the first beneficiaries of the N20 billion CREDICORP fund has opened a window of opportunity for Nigerians desiring brand new vehicles and goods.
In a statement signed by its Chairman Chukwudi Enekwechi and Secretary Shedrach Sunday, the Tinubu Media Volunteers (TMV) acknowledged that the Consumer Credit Corporation (CREDICORP) is fulfilling its promise of providing credit for Nigerians to purchase locally-manufactured vehicles.
It said: “With the first roll-out of the CREDICORP Project S.C.A.L.E.” (Securing Consumer Access for Local Enterprises), it was gratifying to see beneficiaries driving off brand new tricycles and motorbikes from the Simba manufacturing facility.
“The automobile credit fund is part of a larger CREDICORP “Project S.C.A.L.E.” (Securing Consumer Access for Local Enterprises), an initiative aimed at strengthening Nigeria’s local industries by directing credit-backed consumers to the purchase of locally manufactured goods and services.
“This is the culmination of a deal sealed in 2024 between the Nigerian Consumer Credit Corporation and the National Automotive Design and Development Council (NADDC) under which automobile credit fund is provided for Nigerians to purchase locally manufactured vehicles.
“Companies involved in the scheme included Innoson, Nord, CIG, Jets, NEV and Simba which has now provided motorcycles and tricycles to beneficiaries of the scheme.
“We note that the roll-out of the credit facility would enhance the manufacturing capacity of local automobile manufacturers. And by the time, the scheme fully takes root, it would reduce the level of importation of foreign automobiles aside from creating job opportunities for Nigerians.
“We envisage that the scheme would make it easier for Nigeria to evolve into an automobile manufacturing hub where skills and technology will thrive.”
TMV applauded President Bola Tinubu’s administration for the initiative and urged the implementing agencies to ensure that many Nigerians realize their life-long dream of owning new vehicles.
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