.        President Bola Ahmed Tinubu 

Throwback Times Nigeria has learned that the Federal Government has announced plans to expand its consumer credit programme to 500,000 Nigerians by December 2026 as the Nigerian Consumer Credit Corporation (CREDICORP) shifts from building its framework to scaling its effect nationwide.

According to CREDICORP's H2 2026 Outlook contained in its 2026 Impact
Report, the corporation has already touched over 300,000 beneficiaries and disbursed more than ₦45.2 billion in consumer credit during the first half of 2026.

For the remainder of the year, CREDICORP will focus on increasing loan disbursement, mobilising additional capital, strengthening partnerships with lenders and vendors, and promoting responsible borrowing through consumer education.

The programme will continue to prioritise financing in key sectors, including:

- Mobility
- Digital devices
- Energy solutions
- Home improvement
- Life essentials

These interventions are meant to assist Nigerians access productive assets that improve their standard of living and economic opportunities.

The corporation also plans to advance initiatives such as the Credit Passport, Consumer Credit Guidelines, and enabling legislation while expanding participation among lenders, manufacturers, vendors, and development partners.

CREDICORP stated that its goal is to reach more Nigerians, strengthen the consumer credit ecosystem, and accelerate the transition to a credit-enabled economy that promotes productivity, financial inclusion, and sustainable economic growth.

The report noted that the programme is deliberately designed to support women and financially disadvantaged Nigerians, with more than 40% of current beneficiaries being first-time formal borrowers.

CREDICORP reaffirmed its commitment to responsible lending, stronger governance, consumer education, and attracting additional investment to build a sustainable consumer credit market in Nigeria.


Source: Throwback Times Nigeria