Sunday, June 28, 2026
FB X LI YT
Breaking
Alaafin to Be Honoured in Bahia, Brazil as UNESCO Recognises OYO: The City of Yoruba Cultural Heritage as a World Heritage Site Adeboye to US: “Terrorism Has Reached My Doorstep” – Urges Stronger Nigeria Partnership BREAKING: FG Announces ‘World-Class’ Discovery of Platinum, Lithium, Rare Earth Minerals in Kaduna CRACKDOWN 🇳🇬🔫: Plateau Illegal Arms Makers Confess They Sold Locally Made Guns to Fulani Militias Because They Paid More, Nigerian Military Reveals. Trump Claims US Military Action Stopped Killings of Christians in Nigeria, But Nigerian Forces Led the Ground Fight BREAKING 🇳🇬📱: NCC Board Chairman Idris Olorunnimbe Pledges to Seek Presidential Incentives for Investors Willing to Establish Smartphone Manufacturing Factories in Nigeria. BREAKING 🇳🇬🚔: Nigeria Police in Lagos and Ogun Launch Operation Kosaye, a Joint Security Initiative to Tackle Kidnapping, Armed Robbery and Other Criminal Activities Across Both States. 🎓🔥 LASU Sets IED 302 Question on Sheikh Hamad Labeeb’s Western vs Islamic Education Remarks.
NEWS

Tinubu-Led FG launches single-digit auto loan scheme

December 6, 2024 • 1 min read

December 06, 2024

By Ayinde Adeleke

The Federal Government, led by President Bola Tinubu, has introduced the Renewed Hope Automobiles Credit Fund, aimed at promoting the local automotive industry.

This initiative offers a single-digit loan scheme, set to commence in January 2025, and is open to all Nigerians.

The loan is specifically designed for individuals who purchase locally manufactured or assembled cars, motorcycles, and tricycles.

The National Automotive Design and Development Council (NADDC) has accredited several local manufacturers, including Nordmotion, DangotePeugeot, PanNigeriaLtd, Innosonvehicles, GeelyNigeria, and Jet Motor Company.

Interested individuals can visit their preferred local manufacturer’s website, discuss their options, and obtain a pro-forma invoice. CrediCorpNG will then credit the manufacturer directly.

This initiative is part of the Federal Government’s efforts to boost the local automotive industry and provide affordable transportation options for Nigerians. With the Renewed Hope Automobiles Credit Fund, the Tinubu-led administration aims to make 2025 a memorable year for Nigerians.