Federal Government has launched a twenty-billion-naira consumer credit fund to stimulate demand for locally-assembled automobiles.
Speaking at the official launch/agreement signing between Credicorp and the National Automotive Design and Development Council, in Abuja, the Managing Director and Chief Executive Officer of Credicorp, Engineer Uzoma Nwagba explained that the fund aims to eliminate barriers faced by consumers in buying automobiles on credit.
Engineer Nwagba pointed out that the credit economy helps in improving the quality of lives of citizens as well as creating jobs and wealth for Nigerians.
He said the government is committed to supporting the sector to ensure growth and sustainability adding that the twenty-billion-naira fund is just the beginning as the government plans for a bigger fund if the initial support proves successful.
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