The Nigerian Consumer Credit Corporation (CREDICORP) has extended its nationwide rollout of 10,000 credit-backed, locally assembled vehicles to Yola, Adamawa State. This marks CREDICORP's arrival in the North-East region, a significant milestone in its expanding national mobility programme. The rollout aims to provide productive assets to working Nigerians through affordable consumer credit. The event was held at the Mahmud Ribadu Square in Yola.
The Yola activation marks CREDICORP's inaugural deployment of Compressed Natural Gas (CNG) powered three-wheelers. This move aligns with the Federal Government's energy transition agenda and its commitment to cleaner, more sustainable livelihoods for Nigerian workers. By financing CNG-powered vehicles, CREDICORP ensures that the transition to cleaner energy is accessible through responsible consumer credit. This initiative supports the Corporation's broader effort to make consumer credit a tool for Nigerians to own productive assets.
CREDICORP's mobility rollout is part of its S.C.A.L.E. initiative, which connects consumer credit with Nigerian production and enterprise. The programme seeks to improve the lives and earning capacity of consumers while creating sustained demand for local manufacturers, assemblers, and businesses. By financing locally assembled vehicles and Nigerian-made goods, CREDICORP aims to achieve two objectives: enhancing consumer livelihoods and supporting local industry.
The rollout in Adamawa follows previous activations in South-South, North-Central, and South-West regions, including Port-Harcourt, FCT, Ijebu-Ode, Akure, Lagos, and Ile-Ife. The programme will next move to Bornoto, followed by the South-East region. CREDICORP has now reached over 301,000 Nigerians nationwide, providing consumer credit for mobility, digital devices, home improvement, life essentials, and other productive assets.
Uzoma Nwagba, Managing Director/CEO of CREDICORP, highlighted the significance of the Yola activation, stating that it represents a defining chapter in CREDICORP's national mission. The CNG vehicles deployed carry a dual significance, 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 with licensed financial institutions and an 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 Letshego Microfinance Bank and Accion Microfinance Bank provided credit administration support. DAG Bajaj supplied the locally assembled CNG three-wheelers.
Through S.C.A.L.E. and its wider consumer credit programmes, CREDICORP continues to build a national marketplace where responsible credit gives Nigerians the purchasing power to own more, earn more, and live better. The Corporation's efforts aim to support Nigerian industry and jobs while improving livelihoods. For more information, visit www.credicorp.ng.
Key points
- CREDICORP's rollout of CNG-powered vehicles in Adamawa State marks a significant milestone in its national mobility programme.
- The programme aims to provide 10,000 credit-backed, locally assembled vehicles to working Nigerians through affordable consumer credit.
- CREDICORP's initiative supports the Federal Government's energy transition agenda and commitment to cleaner, more sustainable livelihoods for Nigerian workers.
