CREDICORP introduces innovative lending program in Ogun region

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The Nigerian Consumer Credit Corporation has expanded access to consumer credit nationwide, reaching more than 227,000 Nigerians through programmes designed to support asset ownership, local manufacturing, and economic growth.

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According to a statement on Friday, the Chairman of the corporation’s Board, Aderemi Abdul-Bojela, disclosed this during the rollout of a credit-backed initiative at the Awujale Palace in Ijebu-Ode, Ogun State.

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Abdul-Bojela said the initiative formed part of efforts to improve access to personal and income-generating vehicles through responsible consumer credit, while complementing other interventions such as the recently launched 10,000 Women in Mobility Programme.

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He stated that under the scheme, beneficiaries will acquire the three-wheelers through affordable repayment plans facilitated by one of its partners.

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He noted that the programme aligns with CREDICORP’s commitment to finance 20,000 assembled-in-Nigeria vehicles while supporting local industries and creating jobs.

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“What we are building goes far beyond vehicle financing—we are expanding access to opportunity and strengthening local industry.

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“Over 227,728 Nigerians have so far accessed vehicles, digital devices, solar energy solutions, work tools, home improvement financing and other essential products through the corporation’s programmes,” Abdul-Bojela said.

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According to him, the deployment is part of CREDICORP’s S.C.A.L.E. initiative—Securing Consumer Access for Local Enterprises—which links consumer purchasing power with local production, job creation and industrial growth.

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“As someone whose roots are firmly planted in Ijebu land, today is not just an institutional milestone for me; it is personal. Every three-wheeler deployed represents another Nigerian empowered to live better while contributing to the growth of local enterprise. This is the promise of responsible consumer credit,” he said.

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Abdul-Bojela added that CREDICORP currently works with 35 financial institutions and has maintained zero non-performing loans while supporting growth across 15 local industries.

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Executive Director of Operations at CREDICORP, Olanike Kolawole, said the initiative was designed to promote inclusive economic growth by helping Nigerians acquire productive assets.

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“Asset-backed credit in the hands of productive Nigerians is one of the most powerful levers for inclusive growth. Ijebu-Ode is the latest chapter in a story we are writing across Nigeria,” she said.

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Kolawole stated that the S.C.A.L.E. programme was structured as a long-term intervention rather than a one-time project.

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“S.C.A.L.E. is not a one-off intervention; it is a scalable model. From women entrepreneurs accessing vehicles through Women in Mobility to transport operators growing their livelihoods here in Ijebu-Ode, our mission remains the same: helping hardworking Nigerians access the assets they need today while paying responsibly over time,” she added.

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