Better Life For Nigerians: Assessing the Federal Government Consumer Credit Scheme
May 21, 2024 ·
39m 41s
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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.
show less
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.
Information
| Author | Njideka Maduka |
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