The Federal Inland Revenue Service Chairman, Zacch Adedeji, said the Nigerian government would unveil its proposed N100 billion consumer credit loan in a couple of days.
Adedeji disclosed this on Wednesday, when the Chief Executive Officer of Guinness Nigeria Plc, Adebayo Alli, led the company’s management team on a visit to the Revenue House in Abuja.
According to him, in a statement by his media aide, Dare Adekanmbi, the credit scheme will reduce Nigerians’ economic hardship.
“In a couple of days, the consumer credit scheme will be launched, setting the proper fundamentals, especially for the products you sell.
“In an economy of our size, it will be tough if we don’t have a consumer credit scheme. People need to eat before they drink. But when they have credit to buy things, this gives them more money that they can use to come to drink and relax after work.
Recall that on March 14, 2024, the Minister of Budget and National Planning, Sen. Atiku Bagudu, said the government earmarked N100 billion in the 2024 Appropriation bill for the consumer credit scheme.
“We have put N100bn in the budget for consumer credit. To us, it is important because the manufacturing sector is struggling with two challenges: efficiency of production and finding somebody who can buy from them,” he said.
President Bola Ahmed Tinubu had signed the N28. 7 trillion national budget of 2024 into law on January 1.