By Olawale Lamina
The Tinubu Stakeholders Forum,TSF, has commended the official roll out of the Consumer Credit Scheme by the President Bola Tinubu administration as a historic development, describing it as a ground breaking initiative bound to shape the financial landscape of the country.
In a statement signed by its Chairman, Ahmad Sajoh and the Secretary, Afolabi Josiah, the Forum asserted saying “We at the Tinubu Stakeholders Forum (TSF) commend the Federal Government’s bold step in launching the Consumer Credit Scheme, a groundbreaking initiative that aligns with President Bola Ahmed Tinubu’s vision to empower Nigerians and improve their quality of life.
“The rollout of the scheme which will benefit 500,000 Nigerians in the first instance is a testament to the administration’s commitment to fulfilling its campaign promises and addressing the financial needs of the people.
“It is against this backdrop that we welcome the announcement by the Chief Executive Officer of the Consumer Credit Corporation (CREDICORP), Uzoma Nwagba, that successful applicants would begin to receive their loans next week, with N100 billion already released for the initial disbursement.
“This monumental scheme is designed to remove structural, market, and policy barriers that have historically limited access to credit, thus providing a practical solution to everyday financial challenges faced by Nigerians.
“The Consumer Credit Scheme is a visionary project that enables Nigerians to access credit for purchasing essential household items and other necessities without the immediate need for cash.
“This initiative will significantly ease the financial burden on individuals and families, fostering a more inclusive economy and driving widespread financial empowerment across the nation.
“The long-term goal is ambitious, aiming to have 50% of the working populace participating in the scheme by 2030—a clear reflection of the administration’s dedication to sustainable economic growth.
The group also commended the federal government for the timely intervention and the proactive steps being taken to ensure that consumer credit becomes accessible to the citizens, while noting that it will not only enhance economic opportunities but also stimulate productivity and social well-being of the people.
“We urge all relevant agencies to ensure the seamless implementation of this scheme and to extend their efforts toward educating the public about the benefits and application process.
“We are convinced that the success of this initiative will serve as a cornerstone of President Tinubu’s economic blueprint, further underscoring his administration’s focus on creating a people-centered economy.
“And for us, as stakeholders in promoting good governance and economic progress, we reaffirm our support for initiatives like this that elevate the standards of living for Nigerians” the group stated.
TSF concluded that the scheme represents a crucial step toward achieving a more prosperous and financially inclusive Nigeria.
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