Tinubu Highlights Success Of National Credit Scheme In First-Year Review

President Bola Tinubu has highlighted the achievements recorded under Nigeria’s national credit scheme as part of a review of its first year of implementation.

The initiative, introduced as part of the Federal Government’s economic reform programme, is designed to expand access to credit for individuals, households and businesses while strengthening consumer and commercial lending across the country.

Tinubu said the programme had made progress in improving access to financing, particularly for Nigerians and businesses that have traditionally faced difficulties obtaining affordable credit.

The President noted that expanding credit availability remained important to stimulating economic activity, supporting entrepreneurship and creating opportunities for Nigerians to grow their businesses.

He said the scheme was also helping to strengthen confidence in Nigeria’s financial system by creating mechanisms that could encourage responsible lending and borrowing.

According to the President, the first-year review provides an opportunity to assess the programme’s implementation, identify areas requiring improvement and strengthen its impact on the economy.

The Federal Government has continued to pursue measures aimed at deepening financial inclusion and ensuring that more Nigerians can access formal financial services.

Tinubu said increased access to credit would support productive activities and complement broader government efforts to reduce economic pressures on households and businesses.

He also stressed the importance of ensuring that credit programmes are implemented transparently and sustainably, with appropriate mechanisms to protect both lenders and borrowers.

The national credit scheme forms part of the administration’s wider economic reform agenda, which seeks to improve access to finance, stimulate private-sector activity and support long-term economic growth.

The first-year review is expected to provide further insight into the scheme’s reach, performance and areas where additional measures may be required to maximise its benefits for Nigerians.