Presidency promises credit facility to purchase made-in-Nigeria products

The Nigerian government has said that every Nigerian borrower who goes for made-in-Nigeria product would get better terms on their credit facility.

This was revealed by President Bola Tinubu’s spokesperson Ajuri Ngelale during in an interview on TVC.

“The president has put in a stipulation that we are going to be giving through the Consumer Credit Cooperation,” Ngelale said.

“We are going to be giving to the banks, traditional and microfinance banks, a condition that basically says for every Nigerian borrower, we are going to sweeten the terms of their credit facility. That means lower interest, longer payment of repayment.

“We would put some sweetner on the terms of any borrowing that is tied to a purchase of a made-in-Nigeria product.

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“The president is putting in place a mechanism to ensure that every person who is credit worthy, that leverages on the consumer credit system to access a new car, a new house and other goods and services, if they are borrowing to purchase made-in-Nigeria product of any kind, they would be given better terms on their credit facility.”

He stated that the president is determined to strengthen the national currency by support local businesses.

He added that the president is bent on promoting local industry and Nigerian producers across sectors.