Consumer Credit Access: Kila Endorses FG’s CREDICORP With Cautions, Conditions
Prof Anthony Kila, a professor of Strategy and Development at the Commonwealth Institute of Advanced and Professional Studies, has backed the federal government’s move to enhance consumer finance through the Nigerian Consumer Credit Corporation (CREDICORP).
Prof Kila, who is a renowned political economist and famous public affairs analyst, made his position known while addressing the Cambridge African Round Table (CARt), an International platform of analysts, corporate and public leaders, diplomats and scholars dedicated to organising and hosting conversations and facilitating research and connections that aid the understanding of policies and provision of solutions to African and world affairs.
The event, which took place on 13th September 2024, was organised to discuss economic and developmental opportunities in African and Caribbean countries at a roundtable themed “Finance, Production and the Market in African Countries.”
Kila explains that he is impressed with the Nigerian Consumer Credit Corporation (CREDICORP) idea and is endorsing it with caution and conditions.
The Nigerian Consumer Credit Corporation is a government-owned development finance institution (DFI) committed to strengthening consumer credit access.
However, Kila cautions that the “Nigerian Government and those who act on their behalf should be careful not to limit or turn the project into a cash-sharing scheme.”
According to Kila, these cautions and conditions are designed to make the government and public feel alert and vigilant about the potential misuse of the project.
Kila insisted that “the CREDICORP scheme should be perceived as an opportunity for Nigeria to ginger and empower Made in Nigeria products and services and, by so doing, increase the creation of jobs and wealth in the country.”
According to the Don, anything short of that will amount to the wasting and corruption of a good idea.
The popular public analyst also called on political economists in African and Caribbean countries to actively guide people, governments, and businesses towards prosperity through collaboration.
According to Kila, this call to action aims to empower and inform investors, innovators, and experts across the globe and make them feel empowered and part of the solution.
