Thursday, October 9, 2025
  • About
  • Advertise
  • Careers
  • Contact
Newsroom Nigeria
  • Home
  • News
    • Across the Nation
    • Crime Watch
    • Metro
    • Political Arena
  • Politics
  • Opinions
  • Crime and Court
    • Judiciary
  • Business
    • Banking
    • Business and Economy
    • Business Life
No Result
View All Result
Newsroom Nigeria
ADVERTISEMENT
Home Metro

Consumer Credit: CREDICORP and NADDC Kick off Initial ₦20 Billion Consumer Credit Fund for Purchase of Locally-Assembled Automobiles

The Automotive industry is one of five thematic areas of CREDICORP's Project S.C.A.L.E. (Securing Consumer Access for Local Enterprises) which channels the Corporation’s credit-backed consumers to purchase goods and services of local vendors and manufacturers. The kickoff of this Fund targeting local automobiles marks a significant step in the realization of this objective.

Newsroom Nigeria by Newsroom Nigeria
December 6, 2024
in Metro, News
Reading Time: 2 mins read
0
SHARES
Share on FacebookShare on Twitter

The Nigerian Consumer Credit Corporation (CREDICORP) and the National Automotive Design and Development Council (NADDC) have kicked off the first phase of a consumer credit fund enabling Nigerians to purchase locally assembled automobiles. This was announced at the signing event featuring Nigeria’s leading local automobile manufacturers including Innoson, Nord, CIG (GAC), PAN, Mikano, Jets, NEV (electric), DAG. This targeted initiative empowers Nigerians with credit to own new automobiles (cars, tricycles, motorbikes) while growing Nigeria’s automotive industry.

The Automotive industry is one of five thematic areas of CREDICORP’s Project S.C.A.L.E. (Securing Consumer Access for Local Enterprises) which channels the Corporation’s credit-backed consumers to purchase goods and services of local vendors and manufacturers. The kickoff of this Fund targeting local automobiles marks a significant step in the realization of this objective.

Related posts

Union Bank Strengthens Media Ties at Informal Mixer Event

Union Bank Strengthens Media Ties at Informal Mixer Event

October 9, 2025
TINUBU ACCEPTS INEC CHAIRMAN’S DEPARTURE, BESTOWS NATIONAL HONOUR ON HIM

TINUBU ACCEPTS INEC CHAIRMAN’S DEPARTURE, BESTOWS NATIONAL HONOUR ON HIM

October 7, 2025

At the event, the Managing Director/CEO of CREDICORP, Engr. Uzoma Nwagba, expressed optimism about the initiative. “At CREDICORP, we are removing structural barriers to credit access, and accelerating consumer credit with capital and guarantees to financial institutions. They say Automobiles is a mother of all industries due to several adjacent industries that emanate from it. The partnership with local automobile manufacturers is an exciting development that catalyzes the sector by aggregating credit-backed demand, while bringing us closer to our goal of enabling millions more Nigerians to obtain a higher quality of life.”

Standards for eligible manufacturers under the Fund have been set by the NADDC, the Federal Government agency responsible for Nigeria’s automotive sector. Speaking on the partnership, the Director General of the NADDC, Mr Joseph Osanipin stated that “this partnership with CREDICORP is a significant step towards realizing the full potential of Nigeria’s automotive industry, as the government is supporting Nigerians with purchasing power and channeling them to buy made-in-Nigeria cars, tricycles, and motorcycles. The NADDC is proud to be part of an initiative that drives the automotive sector and create sustainable economic growth for Nigeria.”

*How to Access*:
Interested buyers of the listed brands can seek consumer credit directly at the sales point of any participating local automobile assemblers. At these locations, customers will receive assistance with the application process, including the necessary documentation for credit assessment and approval.

ShareTweetSendShareShare
Previous Post

Fearless Energy Drink Thrills Consumers to an Exciting Movie Experience

Next Post

TINUBU MOURNS ISLAMIC SCHOLAR SHEIKH MUYIDEEN AJANI BELLO

Related Posts

Union Bank Strengthens Media Ties at Informal Mixer Event
BANKING

Union Bank Strengthens Media Ties at Informal Mixer Event

October 9, 2025
TINUBU ACCEPTS INEC CHAIRMAN’S DEPARTURE, BESTOWS NATIONAL HONOUR ON HIM
News

TINUBU ACCEPTS INEC CHAIRMAN’S DEPARTURE, BESTOWS NATIONAL HONOUR ON HIM

October 7, 2025
Yakubu Concludes Tenure, Hands Over to Agbamuche-Mbu as INEC’s Acting Chairman
News

Yakubu Concludes Tenure, Hands Over to Agbamuche-Mbu as INEC’s Acting Chairman

October 7, 2025
TINUBU EULOGISES MINISTER OF SOLID MINERALS, DELE ALAKE, ON 69TH BIRTHDAY
Metro

TINUBU EULOGISES MINISTER OF SOLID MINERALS, DELE ALAKE, ON 69TH BIRTHDAY

October 6, 2025
NDLEA Smashes Cocaine Cartels Behind 6 UK-bound Shipments, Arrests Arrowhead
News

NDLEA Smashes Cocaine Cartels Behind 6 UK-bound Shipments, Arrests Arrowhead

October 5, 2025
EFCC Arraigns Woman for N240.5m Forex Fraud in Abuja
JUDICIARY

EFCC Arraigns Woman for N240.5m Forex Fraud in Abuja

October 2, 2025
Next Post

TINUBU MOURNS ISLAMIC SCHOLAR SHEIKH MUYIDEEN AJANI BELLO

RECOMMENDED NEWS

LAGOS SPEAKER TUSSLE: WHY 39 LAWMAKERS-ELECT ENDORSED OBASA

2 years ago

Beyond Salary Reduction, HEDA Urges Politicians to Adopt Measures to Alleviate Economic Hardship

1 year ago

Obasa Congratulates, Tasks Muslims On Lessons of Ramadan

2 years ago

OBASA SALUTES REMI TINUBU AT 62, RECALLS HER ROLE IN NADECO

3 years ago

FOLLOW US

ADVERTISEMENT
ADVERTISEMENT

POPULAR NEWS

  • LAGOS, OSUN STAKEHOLDERS REJECT PDP ZONING, RALLY FOR GBENGA HASHIM

    South Rejected Tinubu in 2023, North and South Will Reject Him in 2027 — Gbenga Hashim’s Group

    0 shares
    Share 0 Tweet 0
  • HEDA Drags Ozekhome, Son to ICPC Over Alleged Fraud, Forged IDs and London Property Grab

    0 shares
    Share 0 Tweet 0
  • TINUBU ACCEPTS INEC CHAIRMAN’S DEPARTURE, BESTOWS NATIONAL HONOUR ON HIM

    0 shares
    Share 0 Tweet 0
  • NDLEA Smashes Cocaine Cartels Behind 6 UK-bound Shipments, Arrests Arrowhead

    0 shares
    Share 0 Tweet 0
  • IN JOS, TINUBU ASSURES NORTHERN CHRiSTIANS OF FAIRNESS, AS HE PAYS TRIBUTE TO LYDIA YILWATDA, MOTHER OF THE APC CHAIRMAN

    0 shares
    Share 0 Tweet 0
ADVERTISEMENT
Newsroom Nigeria

The NEWSROOM NIGERIA is an independent, liberal on – line news platform committed to the right of the individual to pursue his economic happiness, without undue interference of the state. It shall promote the rights of the individual; right to freedom of worship and conscience, and to hold opinions and impact same without hindrance, subject to such laws are as consistent with the constitution and necessary for the protection of the rights of others.

  • About
  • Advertise
  • Careers
  • Contact

© 2025 Newsroom Nigeria - Designed by Semasir Connect.

No Result
View All Result
  • Home
  • News
    • Across the Nation
    • Crime Watch
    • Metro
    • Political Arena
  • Politics
  • Opinions
  • Crime and Court
    • Judiciary
  • Business
    • Banking
    • Business and Economy
    • Business Life

© 2025 Newsroom Nigeria - Designed by Semasir Connect.