The Federal Government of Nigeria through the Nigerian Consumer Credit Corporation (NCCC) has announced a new credit scheme tagged Securing Consumer Access for Local Enterprises (SCALE).
In a statement released on Wednesday, November 20, the NCCC emphasized that the initiative aims to boost Nigeria’s local industries while providing consumer credit to Nigerians for purchasing goods and services from local vendors and manufacturers.
The initiative aligns with President Bola Tinubu’s vision of ensuring that every Nigerian has access to locally produced food and goods, helping to cushion the economic challenges facing the nation.
Explaining the workings of SCALE, the NCCC stated that the program connects Nigerian consumers with credible local manufacturers and traders, enabling them to afford these products through accessible and affordable consumer credit options.
The statement further highlighted that the scheme supports the government’s commitment to improving Nigerians’ quality of life, reducing corruption, and stimulating industrial growth.
The NCCC urged manufacturers, local vendors, and consumers to seize this opportunity, noting that interested parties must submit an Expression of Interest via the official SCALE website.
Speaking on the program, Uzoma Nwagba, Managing Director and CEO of CREDICORP, revealed that approximately 30,000 Nigerian workers are already benefiting from the initiative.
He said, “The public has followed CREDICORP’s journey from what began as a series of ideas from Mr. President, to several Participating Financial Institutions, and now to about 30,000 civil servants receiving consumer credit for life-enhancing goods and services, with ongoing expansion to the public.”
Nwagba explained that the project is designed to drive the consumption of locally produced goods, adding, “We are adopting a product-led approach to credit, enabling and tailoring consumer credit to specific themes of impact for our beneficiaries while heavily incentivizing and promoting the consumption of locally-produced goods and services.”
He described SCALE as a win-win for all stakeholders involved, stating, “As the acronym says, it is Supporting Consumer Access for Local Enterprises. It benefits consumers, local vendors, and manufacturers alike.”
Investors King understands that SCALE is one of several projects initiated by the Federal Government to alleviate the economic hardships resulting from the removal of fuel subsidies under the Tinubu administration.
Recently, the government launched a subsidized rice program, selling rice at ₦40,000 to civil servants in various states across the country to ease the burden on households.
