Prof. Anthony Kila, a political economist and public affairs analyst, on Friday commended the Federal Government’s move to enhance consumer finance through the Nigerian Consumer Credit Corporation (CREDICORP).
CREDICORP is a Federal Government-owned Development Finance Institution (DFI) committed to strengthening consumer credit access.
Kila, a professor of Strategy and Development at the Commonwealth Institute of Advanced and Professional Studies said this in a statement in Lagos.
The statement was against the backdrop of his address at the hybrid Cambridge African Round Table (CARt) convened in England which held on Friday, Sept. 13, 2024.
The forum is a Cambridge-based international platform of analysts, corporate and public leaders, diplomats and scholars dedicated to organising and hosting conversations and facilitating research and connections.
Their efforts are aimed at aiding the understanding of policies and provision of solutions to African and world affairs.
Kila said that the roundtable, which had the theme: “Finance, Production and the Market in African Countries”, was organised to discuss economic and developmental opportunities in African and Caribbean countries.
He expressed satisfaction with the CREDICORP idea, hence, but with caution and conditions.
“The government and its representatives should be careful not to limit or turn the project into a cash-sharing scheme.
“Cautions and conditions were designed to make the government and public feel alert and vigilant about the potential misuse of the project,” he said.
He said the CREDICORP scheme should be seen as an opportunity for the nation to promote and encourage patronage of Made in Nigeria products and services for mass jobs and wealth creation.
He added that anything short of that will amount to the wasting and corruption of a good idea.
He 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.
