The Nigerian Consumer Credit Corporation (CREDICORP) has announced that no fewer than 227,000 Nigerians have benefited from consumer credit facilities, as the agency intensifies efforts to boost asset ownership, support local manufacturing, and expand economic opportunities across the country.
Mobility Programme Expansion in Ijebu-Ode
The milestone comes as CREDICORP broadened its nationwide mobility programme through the deployment of credit-backed three-wheelers to transport operators and households in Ijebu-Ode, Ogun State. The initiative is being implemented in partnership with the Ijebu Development Initiative on Poverty Reduction (IDIPR) and other partners, aiming to improve access to affordable transportation while creating income-generating opportunities for beneficiaries.
Held at the historic Awujale Palace, the event marks another milestone in CREDICORP's expanding mobility initiatives across Nigeria, including the recently launched 10,000 Women in Mobility Programme. Through these interventions, citizens and households can access personal and income-generating vehicles via responsible consumer credit.
Commitment to Local Manufacturing
The rollout reinforces CREDICORP's commitment to finance 20,000 assembled-in-Nigeria vehicles. Beneficiaries in Ijebu-Ode are receiving three-wheelers through affordable repayment plans facilitated by CREDICORP in partnership with Imowo Microfinance Bank, the indigenous grassroots financial institution serving the Ijebu community.
The deployment forms part of CREDICORP's flagship S.C.A.L.E. (Securing Consumer Access for Local Enterprises) initiative, which connects consumer purchasing power with local production, job creation, and industrial growth.
Leadership Statements
Speaking at the event, CREDICORP Board Chairman, Otunba Aderemi Abdul-Bojela, whose roots in Ijebu land gave the occasion special significance, said CREDICORP has enabled 227,728 Nigerians to access vehicles, digital devices, solar energy solutions, work tools, home improvement financing, and other essential needs. He said working with 35 financial institutions and maintaining zero non-performing loans to date, the Corporation is also stimulating growth across 15 local industries through consumer credit.
According to him, the programme forms part of its broader strategy to make consumer credit accessible to more Nigerians, enabling households and small business operators to acquire productive assets without the burden of upfront payments.
His words: "What we are building goes far beyond vehicle financing—we are expanding access to opportunity and strengthening local industry. As someone whose roots are firmly planted in Ijebu land, today is not just an institutional milestone for me; it is personal. Every three-wheeler deployed represents another Nigerian empowered to live better while contributing to the growth of local enterprise. This is the promise of responsible consumer credit."
Also speaking at the event, Executive Director, Operations at CREDICORP, Olanike Kolawole, highlighted the broader vision behind the programme. "Asset-backed credit in the hands of productive Nigerians is one of the most powerful levers for inclusive growth. Ijebu-Ode is the latest chapter in a story we are writing across Nigeria. S.C.A.L.E. is not a one-off intervention; it is a scalable model. From women entrepreneurs accessing vehicles through Women in Mobility to transport operators growing their livelihoods here in Ijebu-Ode, our mission remains the same: helping hardworking Nigerians access the assets they need today while paying responsibly over time," Kolawole said.
Partnerships and Impact
IDIPR's strong community presence supported the beneficiary selection process, while Simba TVS remains one of CREDICORP's key partners, providing locally assembled vehicles for credit-backed mobility deployments across the country.
