Wetin be dis consumer credit scheme wey Tinubu launch and how you go fit benefit

Di Nigerian goment on Wednesday announce say dem don launch one new Consumer Credit Scheme wey go "accelerate consumer credit access to 50% of working Nigerians by 2030".

Dis scheme go dey managed by a company - Nigeria Consumer Credit Corporation (CrediCorp) - wey di federal goment own.

Ajuri Ngelale, di tok tok person of President Bola Tinubu, for statement tok say pipo, especially working class, go fit access dis loan for tins we dey important to dem, like to buy house, buy car, pay school fees, or access better healthcare, and den dem go dey pay back small small.

"Di President believe say evri hardworking Nigerian suppose get access to social mobility, and consumer credit go play ogbonge role in achieving dis vision," Ngelale tok.

Dis na di second loan scheme wey di Tinubu administration don start, following di Students Loan Scheme wey im bin launch shortly afta im enta office.

Dem follow for some of di programs and policies wey di Nigerian President bin promise to put in place to reduce di hardship wey pipo dey face sake of di removal of fuel subsidy for di kontri.

Dat action cause di prices of goods and services to go up well well, driving inflation rate to a record 33.7% as at March 2024.

How to register for dis credit scheme

Na for di website, credicorp.ng, pesin go go to register for di scheme. As BBC News Pidgin obsereve, di registration process dey five stages:

1. Di first stage na wia to fill basic personal details like name, phone number, gender, state of origin, date of birth, and National Identity Number (NIN).

2. For di second phase, di applicant go put in why im need di credit, weda na for house purchase, vehicle, home aplliance, or to pay old gbese wey e dey owe.

3. Afta dat, di applicant go enta di phase wia e go enta im source of livelihood. For here, you go enta di kain work wey you dey do, how much be your monthly salary, di bank and account number wia dem dey pay your salary, etc. You go also put how much you wan borrow wey you go fit pay back comfortably in six months.

4. Den di fourth stage na wia di applicant go ansa kweshions about weda e get any secondary employment or side hustle. E go also ansa weda e don borrow money from bank bifor or e dey currently owe any bank.

5. For di last stage, di applicant gatz enta a picture of imself, wey e go take wit di camera of di device wey im dey take do di application. No provision dey to upload old pictures.

E never dey clear how long person gatz wait bifor di credit go dey approved, though a pictogram for di CrediCorp website show say phase one of di scheme go start May 2024.

Also, dem no tok on di website weda di credit facility dey come wit any interest, or wetin di interest rate go be.

However, to register for di scheme and to apply for a credit facility no be di same thing.

According to Credicorp, "di portal to apply for consumer credit and receive am tru our several partner financial institutions go open shortly."

Di registration process na just to indicate interest say you go wan apply for di loan wen e start. Na only pipo wey indicate interest go fit apply, and di deadline to register na May 15, 2024.

Who dey eligible?

Phase 1 of di scheme go begin wit pipo wey dey work for federal and state civil service, as well as "white collar workers and informal workers wey get trackable cashflows".

Estimated number of pipo in dis category na 31.87 million, according to figures by CrediCorp.

Dis first phase go run from May to December 2024, bifor di second phase, wey go involve "di general public" go start.