Nigerian Consumer Credit Corporation partners Automotive Council to empower Nigerians to buy vehicle

Nigerian Consumer Credit Corporation has said that it is partnering with the National Automotive Design and Development Council to kick start the first phase of a consumer credit fund enabling Nigerians to purchase locally-assembled automobiles. The scheme kicked off with the signing of agreements with leading local automobile manufacturers including Innoson, Nord, CIG (GAC), PAN, Mikano, Jets, NEV (electric), and DAG. This is according to a statement from the CREDICORP. The new automobiles this scheme covers includes cars, tricycles and motorbikes.  According to CREDICORP, the automobile credit scheme is part of its recently launched project S.C.A.L.E, through which it plans to provide credit for one million Nigerian consumers to purchase locally manufactured goods and services. CREDICORP’s Project S.C.A.L.E. simply means Securing Consumer Access for Local Enterprises.  
The automotive industry is one of five thematic areas of CREDICORP’s Project S.C.A.L.E. which channels the Corporation’s credit-backed consumers to purchase goods and services of local vendors and manufacturers.  Other sectors in this Project S.C.A.L.E. include Home Improvement (Furniture, Appliances, Building Materials). Here, households are enabled to upgrade their living standards by heavily incentivising consumer credit for locally manufactured furniture, building materials, and appliances. Cars, buses, keke, bicycles – esp. CNG & Electric, is another part of the project S.C.A.L.E.  By facilitating access to compressed natural gas (CNG) and electric vehicles (cars, motorbikes, keke, bicycles, accessible transportation is promoted. The aim of this is to enable cheaper and cleaner transportation, and stimulate growth and value addition in Nigeria’s automotive sector. 
Also covered in S.C.A.L.E. project is Electronics, Digital Devices. In this case, consumers are provided with affordable access to essential digital devices, including smartphones, tablets, and laptops, fostering digital inclusion and participation in the digital economy.  Energy Solutions Generators, Solar, etc. is another part of the project S.C.A.L.E. Nigeria’s energy challenges are addressed by empowering homes and small businesses with affordable, sustainable energy solutions, such as solar panels and efficient generators. General Merchandise, Apparel & Textiles, Healthcare, Food & Beverage is also a part of the project S.C.A.L.E. While advancing growth in these sectors, the scheme aims to enhance access to essential healthcare products, quality apparel, and nutrition.