Better Life For Nigerians: Assessing the Federal Government Consumer Credit Scheme

May 21, 2024 · 39m 41s
Better Life For Nigerians: Assessing the Federal Government Consumer Credit Scheme
Description

President Bola Tinubu on April 21, 2024, launched the Federal Government Consumer Credit Scheme. The Consumer Credit Scheme is an  initiative designed to provide access to essential goods and services...

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President Bola Tinubu on April 21, 2024, launched the Federal Government Consumer Credit Scheme.

The Consumer Credit Scheme is an  initiative designed to provide access to essential goods and services by offering individuals the option to make purchases upfront and pay over time.

In the simplest of terms, it means "buy now and pay later," . Here, the government acts as a facilitator by partnering with financial institutions and providing support mechanisms such as credit guarantees and wholesale lending.

What does this scheme entail? Who stands to benefit, and what are the requirements to become a beneficiary? Are there possible challenges that could undermine its effectiveness?

Here, we look into these questions and assess the Federal Government Consumer Credit Scheme's potential to transform the lives of Nigerians for the better.
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Author Njideka Maduka
Organization NJ
Website -
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