ABUJA, NIGERIA — President Bola Tinubu says his administration has set up a credit institution called CREDICORP. The institution will help Nigerians obtain consumer credit. It will also help them buy goods and pay in instalments.
The President made this known in a post on his official X account on Monday, September 28, 2026. He said the initiative forms part of efforts to ease financial strain on individuals and businesses.
How the Programme Will Work
Tinubu said the programme will enable workers to get essential items when needed. They can then repay the amount over a period both sides agree on. He also said the system could open opportunities for small businesses. They can invest based on income they expect to earn in the future.
According to the President, the government has been building institutions to support a credit system. The aim is to make consumer credit easier for Nigerians to obtain.
President’s Statement
Tinubu wrote: “That promise was about something practical. A worker with access to credit can buy what the family needs and pay over time. A small business can invest today against the income it expects tomorrow.
“We have been building the institutions to make that possible. Through CREDICORP, working Nigerians can access consumer credit.”
Social Media Reactions
The announcement has drawn reactions from social media users. Many commented on the plan to make credit more available to Nigerians. Discussions centred on how the initiative might work. They also discussed how workers and small business owners could benefit.
Broader Impact
Introducing a broader credit system could change how some Nigerians make major purchases. Under a credit arrangement, eligible consumers can get goods or services. They then repay the cost within a set period. This is subject to the programme’s terms and conditions.
Key Considerations
Access to credit depends on several factors. These include eligibility, repayment terms, and the cost of borrowing. How individual Nigerians access CREDICORP’s services will shape the programme’s impact. This applies to both consumers and businesses.
Ongoing Debate
The President’s announcement has put CREDICORP at the heart of a new debate. The debate concerns consumer credit and financial access in Nigeria. Nigerians continue to react to the government’s plan on social media.
