Tinubu-Led Federal Government (FG) has successfully launched the Renewed Hope Automobiles Credit Fund Today through the Nigerian Consumer Credit Corporation (CREDICORP).
The kickoff event for the N20bn Credit Fund for locally-assembled automobiles was held yesterday at the Ajuji Greenwich Hotel, Plot 1083 Joseph Gomwalk Street, Gudu, Abuja.
The FG of Nigeria in CREDICORP is represented by the Ministry of Finance Incorporated (MOFI) and CREDICORP as part of its project S.C.A.L.E (Securing Consumer Access for Local Enterprises) and partnership with the National Automotive Design and Development Council (NADDC) held this event.
CREDICORP partners with the Central Bank of Nigeria (CBN), National Identity Management Commission (NIMC), Federal Competition and Consumer Protection Commission (FCCPC), Federal Inland Revenue Service (FIRS), National Insurance Commission (NAICOM), and Bank of Industry (BOI) have the mandate to remove structural, market and policy barriers, and accelerate access to consumer credit to 50% of all working Nigerians, by 2030. In alignment with this mandate, it will commence this initiative, “Renewed Hope Automobiles Credit Fund Today”, in January 2025.
What to know about the initiative to commence in January 2025:
- It’s a Single digit loan.
- Opened to all Nigerians.
- The National Automotive Design and Development Council (NADDC) had accredited:
Nordmotion
DangotePeugeot
PanNigeriaLtd
Innosonvehicles
GeelyNigeria
Jet Motor Company etc.
- Automobile loans are for people who patronize locally manufactured or assembled cars, motorcycles, and tricycles.
- This auto loan is facilitated through CrediCorpNG.
- Check your preferred local manufacturer’s website. Discuss with them. They will issue a pro-forma invoice, and then CrediCorpNG will credit the manufacturer directly.
The Tinubu-led FG is waiting to make 2025 a memorable year for you.
