Nigeria will expand credit access to individuals, key sectors to boost national productivity –Tinubu

*President Bola Ahmed Tinubu, GCFR, in his New Year message to Nigerians January 1, 2025, assures the Federal Government will further consolidate and increase access to credit for individuals and key economic sectors to boost national economic output, and inauguration of Youth Confab in the First Quarter as a platform for youth inclusiveness and investment as nation-builders

Isola Moses | ConsumerConnect

The Federal Government of Nigeria has disclosed plans to further increase access to credit lines for individuals and critical sectors of the economy to boost national productivity.

ConsumerConnect reports President Bola Ahmed Tinubu, GCFR, noted this in his New Year message to Nigerians Wednesday, January 1, 2025.

President Tinubu said his administration would further consolidate and increase access to credit for individuals and key sectors of the Nigerian economy with a view to boosting national economic output.

In order to attain this, the Nigerian leader disclosed the Federal Government would establish the National Credit Guarantee Company to expand risk-sharing instruments for financial institutions and enterprises in the West African country.

He stated that the company, which is expected to start operations before the end of the second quarter, “is a partnership of government institutions, such as the Bank of Industry, Nigerian Consumer Credit Corporation, the Nigerian Sovereign Investment Agency, and Ministry of Finance Incorporated, the private sector, and multilateral institutions.”

The President also explained: “This initiative will strengthen the confidence of the financial system, expand credit access, and support under-served groups such as women and youth.

“It will drive growth, re-industrialisation, and better living standards for our people.”

Inauguration of Youth Confab for inclusiveness

President Tinubu, in his 2025 message also assured Nigerians that the Youth Confab would begin in the First Quarter of 2025.

The Nigerian leader said the organisation of the youth conference is a testament to his administration’s commitment to youth inclusiveness and investment as nation-builders.

“The Ministry of Youth will soon announce the modalities for selecting the conference’s representatives from our diverse, youthful population,” stated he.

In line with his administration’s Renewed Hope Agenda, the President reiterated that the government, in 2025, would commit to promoting adherence to ethical principles, shared values, and beliefs under the National Identity Project.

He affirmed: “I will unveil the National Values Charter, already approved by the Federal Executive Council, in the First Quarter of 2025.

“I will launch an ambitious national orientation campaign that fosters patriotism and love for our country and inspires citizens to rally together.”

On the benefits of the initiative to Nigeria, Tinubu said the Charter would promote “mutual commitments between the government and citizens and foster trust and cooperation among our diverse population and between the government and the citizens.”

He further stated: “As far-reaching and foundational as our reforms are, they can produce the desired outcomes only through shared common values and identities and unconditional love for our country.”

President Tinubu, therefore, assured the citizenry that the Nigerian Government would continue to embark on “necessary reforms to foster sustainable growth and prosperity for our nation.”

He said: “I seek your cooperation and collaboration at all times as we pursue our goal of a one trillion-dollar economy.

“Let us stay focused and united. We are on the right path to building a great Nigeria that will work for everyone.”

According to him, as the new year dawns, it brings several hopes, aspirations, and prospects for better days.

Tinubu averred: “By the grace of God, 2025 will be a year of great promise in which we will fulfill our collective desires.

“Though 2024 posed numerous challenges to our citizens and households, I am confident that the New Year will bring brighter days.”

He as well assured Nigerians, that “economic indicators point to a positive and encouraging outlook for our nation.”

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