The Nigerian Consumer Credit Corporation (CREDICORP) is set to provide credit for Nigerian consumers to purchase locally manufactured goods and services with the commencement of a new project called SCALE (Securing Consumer Access for Local Enterprises).

With the unveiling of the initiative last week, CREDICORP said it would channel its credit-backed consumers to purchase goods and services from local vendors and manufacturers.

“SCALE is a bold step toward supporting Nigerian enterprises by accelerating demand, which in turn grows local industries and creates jobs. This program connects credit-backed consumers with credible local manufacturers and vendors across critical sectors,” the agency stated. Emphasizing the need to grow Nigeria’s local industries, the corporation said it targets one million consumers under the initiative.

CREDICORP said the initiative is focusing on local manufacturers in different sectors.

The sectors include: Home Improvement (Furniture, Appliances, Building Materials) to enable households to upgrade their living standards by heavily incentivizing consumer credit for locally manufactured furniture, building materials, and appliances.

Mobility (cars, buses, keke, bicycles – esp. CNG & Electric), which will enable cheaper and cleaner transportation, and stimulate growth and value addition in Nigeria’s automotive sector.

Electronics (Digital Devices), providing consumers with affordable access to essential digital devices, including smartphones, tablets, and laptops, fostering digital inclusion and participation in the digital economy.

Energy Solutions (Generators, Solar, etc) to empower homes and small businesses with affordable, sustainable energy solutions, such as solar panels and efficient generators, addressing Nigeria’s energy challenges.

General Merchandise (Apparel & Textiles, Healthcare, Food & Beverage), enhancing access to essential healthcare products, quality apparel, and nutrition, while advancing growth in those sectors.