The Nigerian Consumer Credit Corporation (CREDICORP) has launched its nationwide rollout of 10,000 credit-backed, locally assembled vehicles in Yola, Adamawa State. This marks a significant milestone in CREDICORP's expanding national mobility programme, bringing credit-backed vehicle ownership to communities across every region of Nigeria. The rollout, held at the Mahmud Ribadu Square in Yola, is part of CREDICORP's drive to make productive assets accessible to working Nigerians through affordable consumer credit.
The Yola activation marks CREDICORP's inaugural deployment of Compressed Natural Gas (CNG) powered three-wheelers, aligning with the Federal Government's energy transition agenda and commitment to cleaner, more sustainable livelihoods for Nigerian workers. By financing CNG-powered vehicles, CREDICORP aims to make the transition to cleaner energy accessible to working Nigerians. The rollout is part of CREDICORP's broader effort to make consumer credit a tool for Nigerians to own useful and productive assets, improve their livelihoods, and live better lives.
CREDICORP's national mobility programme has progressed through various regions, including South-South, North-Central, and South-West. The programme will continue to Borno and then move into the South-East as CREDICORP delivers the national programme across the country. The vehicle rollout is being delivered under CREDICORP's S.C.A.L.E. initiative, which connects consumer credit with Nigerian production and enterprise. This initiative seeks to improve the lives and earning capacity of consumers while creating sustained demand for local manufacturers, assemblers, and businesses.
Engr. Uzoma Nwagba, Managing Director/CEO of CREDICORP, stated that the Yola activation represents a defining chapter in CREDICORP's national mission. He emphasized that the programme aims to take consumer credit across every region of Nigeria and put productive assets into the hands of hardworking people. Nwagba highlighted the dual significance of the CNG vehicles, representing both a commitment to reaching Nigerians in every part of the country and a belief that the energy transition must be financed in a way that works for ordinary people.
CREDICORP works through licensed financial institutions and an expanding ecosystem of manufacturers, vendors, and community partners to deliver its programmes. For the Yola rollout, Subcity Global served as the vendor and aggregator partner, while credit administration support was provided by Letshego Microfinance Bank and Accion Microfinance Bank. DAG Bajaj supplied the locally assembled CNG three-wheelers. This collaborative approach enables CREDICORP to build a national marketplace where responsible credit gives Nigerians the purchasing power to own more, earn more, and live better.
The mobility rollout is part of CREDICORP's broader effort to make consumer credit an everyday tool for Nigerians. Across its programmes, more than 301,000 Nigerians nationwide have accessed CREDICORP-supported consumer credit spanning mobility, digital devices, home improvement, life essentials, and other productive assets. By financing locally assembled vehicles and other Nigerian-made goods, CREDICORP seeks to achieve two objectives: improving the lives and earning capacity of consumers while creating sustained demand for local manufacturers, assemblers, and businesses.
The launch of the national mobility programme in Adamawa State is a significant milestone in CREDICORP's mission to provide affordable consumer credit to Nigerians. The programme's impact is expected to be felt across the country, with CREDICORP continuing to build a national marketplace where responsible credit gives Nigerians the purchasing power to own more, earn more, and live better. The programme's success will depend on its ability to reach Nigerians in every part of the country and provide them with access to productive assets.
Key points
- CREDICORP launches 10,000-vehicle national mobility rollout in Adamawa State
- The programme aims to make productive assets accessible to working Nigerians through affordable consumer credit
- CREDICORP deploys CNG-powered three-wheelers in Yola, aligning with the Federal Government's energy transition agenda
