By Huldah Shado
The Federal Government, in partnership with Sytiamo Technologies, has launched a credit scheme to support market women with affordable loans in 224 markets across 28 states.
Managing Director of the Nigerian Consumer Credit Corporation, Uzoma Nwagba, said the initiative aims to boost financial inclusion for informal sector workers, particularly women, who play a crucial role in local economies.
Speaking at the launch of the program’s first phase in Ariaria International Market, Aba, Abia State, Executive of Credit and Portfolio Management, Aisha Abdullahi, who represented the MD, noted that the scheme targets 1 million traders within its first year.
“Women are proven to be better custodians of credit, with higher repayment rates than men,” she said. “This program is not only about financial access but about empowering communities through women.”
Abdullahi emphasized that the loan is not a grant and urged beneficiaries to be responsible with repayments to ensure the revolving fund can reach others.
The initiative is part of the government’s broader drive to strengthen grassroots businesses and stimulate economic growth, especially among women entrepreneurs.
