CREDICORP Launches Project S.C.A.L.E. (Securing Consumer Access for Local Enterprises) to Fund Purchase of Locally Manufactured Goods

The Nigerian Consumer Credit Corporation (CREDICORP), a federal development finance institution, has unveiled Project S.C.A.L.E. (Securing Consumer Access for Local Enterprises), an initiative designed to enhance demand for locally-produced goods and services through consumer credit.

Empowering Local Industries and Consumers

Project S.C.A.L.E. aims to drive growth in Nigeria’s local industries by enabling consumers to access affordable credit to purchase goods and services directly from local vendors and manufacturers. This initiative is expected to stimulate industrial development, create jobs, and improve economic prosperity.

With an ambitious target of empowering one million credit-backed consumers, CREDICORP is encouraging local manufacturers and vendors to participate. Interested businesses can submit their Expression of Interest (EOI) on the official S.C.A.L.E. website at www.credicorp.ng/scale.

Key Focus Sectors

The program concentrates on five high-impact sectors to maximize its benefits for local industries and Nigerian consumers:

1. Home Improvement – Furniture, appliances, and building materials.
2. Mobility – Compressed Natural Gas (CNG) and electric vehicles for sustainable transportation.
3. Electronics and Digital Offerings – Technological tools and gadgets.
4. Energy Solutions – Generators and solar panels to enhance access to reliable power.
5. General Merchandise – Covering healthcare, apparel, textiles, and food & beverages.

By targeting these sectors, Project S.C.A.L.E. aims to address essential consumer needs while supporting local enterprise expansion.

Leadership’s Perspective

Uzoma Nwagba, Managing Director/CEO of CREDICORP, emphasized the initiative’s transformative potential:

“The public has witnessed CREDICORP’s evolution, from an idea championed by Mr. President to a reality involving several financial institutions and 30,000 civil servants now receiving consumer credit for essential goods and services. Our approach is product-led, enabling tailored consumer credit for specific areas of impact, while incentivizing the consumption of locally-produced goods and services.”

Driving Economic Transformation

Project S.C.A.L.E. reflects CREDICORP’s commitment to aligning consumer credit with Nigeria’s economic priorities. By fostering demand for local products, the initiative not only enhances industrial growth but also elevates the standard of living for millions of Nigerians.