₦airaland Forum

Nigeria will establish a national credit guarantee company in May to lend to businesses and individuals, President Bola Tinubu said in an speech on Wednesday.

Tinubu, who took office in May 2023, campaigned on economic reforms including expanding credit access to boost economic growth.

"To achieve this, the federal government will establish the National Credit Guarantee Company to expand risk-sharing instruments for financial institutions and enterprises.[/b]

Tinubu said the company would partner with government institutions such as the Bank of Industry, Nigerian Consumer Credit Corporation, the Nigerian Sovereign Investment Agency, and Ministry of Finance Incorporated, as well as the private sector and multilateral institutions.

"This initiative will strengthen the confidence of the financial system, expand credit access, and support under-served groups such as women and youth. It will drive growth, re-industrialisation, and better living standards for our people," Tinubu said.

Eight months ago, Tinubu launched the Nigerian Consumer Credit Corporation, to enhance access to credit to employed Nigerians.

The implementation of the programme was planned in stages, beginning with Federal civil service employees and now the general public.

Source: https://www.reuters.com/world/africa/nigeria-expand-credit-access-citizens-2025-01-01/

Good news

Hmmm.... I don't know if this is good news or bad news.

Good ,


Anything to benefit The Citizens ,



We will keep supporting you sir,because of our role model princess faith Chukwu ,
even though your enemies are against her ,but she is victorious .



Princess Faith Chukwu

Good. He spoke about citizens having access to credit during his campaign. He tinkered it to the ears of Elumelu and Ovia.

He basically wants to bring the Foreign life of Credit to Nigerians.

I think that will reduce poverty and increase the purchasing power of the people.

He can ask Innoson to create millions of mini cars and people can buy with credit, this will strengthen the Naira and avoid importing 17-23 year old cars.

Generally access to credit brings improve in life once the fellow has a source of income

Alright

Na im b say we go potentially get credit score system very soon for this our obodo Naija. This government is futuristic in operations. You go borrow reach one stage and if you can’t pay your credit score will be declared “bad” pay up and it will be declared “good”. Omo na Yankee pattern this man bring come Naija.

Won’t be a bad thing

This is not a solution but another means to rip poor people off

We don't want. Jst bring down the price of commodities.....

To symphon money or for good?

Una dey laugh
Una know say Nigerians no dey pay debt.

,

Hmmm... how true? If true, loan sharks should sit up and offer better rates.

Vote buying in disguise

A working Nigeria is possible.
Hopefully we get there

If they are going to jail the defaulters, then we need to build more prisons and hire more lawyers to prosecute them.

axglide:
Good. He spoke about citizens having access to credit during his campaign. He tinkered it to the ears of Elumelu and Ovia.

He basically wants to bring the Foreign life of Credit to Nigerians.

I think that will reduce poverty and increase the purchasing power of the people.

He can ask Innoson to create millions of mini cars and people can buy with credit, this will strengthen the Naira and avoid importing 17-23 year old cars.

Generally access to credit brings improve in life once the fellow has a source of income

LOL

Ask Innoson to make millions of cars so people can buy with credit.

Keep playing.

This is good news

Good one.

We love that.

Great100000:
Source: https://www.reuters.com/world/africa/nigeria-expand-credit-access-citizens-2025-01-01/

The issue here is not how to access the credit loan... The question is how to pay back
With so many hyper inflation in market value and taxation..?

Delay in Salaries and unemployment...

Just make cost of living soft for all Nigerians and let God punish those greedy Nigerians living among us...

Expand access to CNG

Stop adding audio to audio in terms of promises

If we're to go by the promises and announcements of this administration, Nigeria should be dragging with US in terms of quality of life by now

It says MAY. PLEASE SEE IT AGAIN. ALL I SAW WAS MAYYYYY

Patiently waiting for the wailing wailers to do their usual business of crying over positive news.

Keep am

Obakoolex:
Patiently waiting for the wailing wailers to do their usual business of crying over positive news.

get a life

Nigeria has so many opportunities. Why would I need credit or loan that comes with interest? At the end you still use that money for business.
But if you start a business first, you can establish contact with big businesses that would extend some credit to you without interest.

beyep:
get a life

As you no get no mean say we dey same category ode

Most of the comments on the first page of this thread are from different usernames controlled by one person. Useless government of media propaganda.