CREDICORP TAKES 10,000-VEHICLE MOBILITY DRIVE TO ILE-IFE, EMPOWERS WORKERS WITH CREDIT-BACKED ASSETS
Ooni of Ife receives national rollout as CREDICORP deepens affordable vehicle ownership across Nigeria
The Nigerian Consumer Credit Corporation (CREDICORP) has taken its nationwide 10,000-vehicle mobility initiative to Ile-Ife, Osun State, in a fresh push to make productive asset ownership more accessible to working Nigerians through affordable consumer credit.
The latest activation, held at the historic Palace of the Ooni of Ife in the presence of His Imperial Majesty, the Ooni of Ife, represents another milestone in CREDICORP’s expanding national mobility programme.
The initiative, which has already reached communities across the North Central and South West, including Ijebu-Ode and Ile-Ife, is expected to move next to Adamawa and Borno in the North East before extending into the South East.
CREDICORP said the nationwide rollout is part of its broader mission to make consumer credit a practical financial tool for Nigerians seeking to acquire productive assets, strengthen their livelihoods and improve their standard of living.
According to the Corporation, more than 301,000 Nigerians have so far accessed CREDICORP-supported consumer credit across mobility, digital devices, home improvement, life essentials and other productive assets.
The vehicle programme is being implemented under CREDICORP’s S.C.A.L.E. initiative — Securing Consumer Access for Local Enterprises, which is designed to link consumer purchasing power with local production and enterprise.
Through the initiative, CREDICORP finances locally assembled vehicles and other Nigerian-made products, creating a dual impact of expanding consumers’ economic opportunities while generating sustained demand for local manufacturers, assemblers and businesses.
Speaking at the Ile-Ife activation, Managing Director/CEO of CREDICORP, Engr. Uzoma Nwagba, described the rollout as part of a much larger national economic transformation programme.
Nwagba said: “What Nigerians are seeing in Ile-Ife today is one stop in a much bigger journey. We are taking consumer credit across the country and putting productive assets into the hands of hardworking people who can use them to earn, grow and live better now.
“When a Nigerian can acquire a vehicle today and pay responsibly over time, we have not only financed an asset. We have expanded that person’s economic possibilities while creating demand for something assembled here in Nigeria.”
He added that scaling the initiative across thousands of Nigerians, communities and industries could position consumer credit as a significant driver of economic growth and improved livelihoods.
The participation of the Ooni of Ife further underscored the significance of the Ile-Ife activation, a city renowned as the cradle of Yoruba civilisation and a historic centre of commerce, culture and enterprise.
By bringing its national consumer credit programme to Ile-Ife, CREDICORP said it is reinforcing its commitment to ensuring that Nigerians in communities across the country can access formal and affordable credit to acquire useful assets.
The Ile-Ife rollout also builds on CREDICORP’s existing mobility interventions, including programmes targeted at commercial transport operators and the 10,000 Women in Mobility Programme, which seeks to expand vehicle ownership and economic opportunities for Nigerian women.
CREDICORP delivers its programmes through licensed financial institutions and an expanding network of manufacturers, vendors and community partners.
For the Ile-Ife activation, Gamma Mobility supported beneficiary profiling and onboarding, Simba TVS supplied the locally assembled three-wheelers, while Accion Microfinance Bank supported the credit administration process.
CREDICORP said its S.C.A.L.E. initiative and wider consumer credit programmes are aimed at building a national marketplace where responsible credit enables Nigerians to own productive assets, increase their earning capacity and improve their quality of life, while simultaneously stimulating local industry and job creation.
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