CREDICORP rolls out new credit scheme in Ogun

The Nigerian Consumer Credit Corporation has expanded access to consumer credit nationwide, reaching more than 227,000 Nigerians through programmes designed to support asset ownership, local manufacturing, and economic growth.

According to a statement on Friday, the Chairman of the corporation’s Board, Aderemi Abdul-Bojela, disclosed this during the rollout of a credit-backed initiative at the Awujale Palace in Ijebu-Ode, Ogun State.

Abdul-Bojela said the initiative formed part of efforts to improve access to personal and income-generating vehicles through responsible consumer credit, while complementing other interventions such as the recently launched 10,000 Women in Mobility Programme.

He stated that under the scheme, beneficiaries will acquire the three-wheelers through affordable repayment plans facilitated by one of its partners.

He noted that the programme aligns with CREDICORP’s commitment to finance 20,000 assembled-in-Nigeria vehicles while supporting local industries and creating jobs.

“What we are building goes far beyond vehicle financing—we are expanding access to opportunity and strengthening local industry.

“Over 227,728 Nigerians have so far accessed vehicles, digital devices, solar energy solutions, work tools, home improvement financing and other essential products through the corporation’s programmes,” Abdul-Bojela said.

According to him, the deployment is part of CREDICORP’s S.C.A.L.E. initiative—Securing Consumer Access for Local Enterprises—which links consumer purchasing power with local production, job creation and industrial growth.

“As someone whose roots are firmly planted in Ijebu land, today is not just an institutional milestone for me; it is personal. Every three-wheeler deployed represents another Nigerian empowered to live better while contributing to the growth of local enterprise. This is the promise of responsible consumer credit,” he said.

Abdul-Bojela added that CREDICORP currently works with 35 financial institutions and has maintained zero non-performing loans while supporting growth across 15 local industries.

Executive Director of Operations at CREDICORP, Olanike Kolawole, said the initiative was designed to promote inclusive economic growth by helping Nigerians acquire productive assets.

“Asset-backed credit in the hands of productive Nigerians is one of the most powerful levers for inclusive growth. Ijebu-Ode is the latest chapter in a story we are writing across Nigeria,” she said.

Kolawole stated that the S.C.A.L.E. programme was structured as a long-term intervention rather than a one-time project.

“S.C.A.L.E. is not a one-off intervention; it is a scalable model. From women entrepreneurs accessing vehicles through Women in Mobility to transport operators growing their livelihoods here in Ijebu-Ode, our mission remains the same: helping hardworking Nigerians access the assets they need today while paying responsibly over time,” she added.