The Traffic

"Shettima and Sanwo-Olu Set to Unlock Nigeria's Economic Revival: The Credit Revolution Begins"

Yakubu Haruna Yakubu 

In a bold move to steer Nigeria towards economic recovery, Vice President Kashim Shettima and Lagos State Governor Babajide Sanwo-Olu are spearheading a landmark conversation on credit administration at the inaugural National Credit Managers Conference and Investiture. Organized by the National Institute of Credit Administration (NICA), the event is set for October 22nd and 23rd, 2024, at the CIBN Auditorium in Victoria Island, Lagos, under the theme "Credit Grows Green Economy."

This high-profile gathering will bring together Nigeria’s top corporate leaders, industry captains, and economic thinkers to explore the potential of credit management as a catalyst for sustainable growth. The discussions aim to transition Nigeria from its longstanding "cash and carry" economy to one driven by efficient credit systems.

Addressing reporters, Prof. Chris Onalo, Registrar and Chief Executive of NICA, emphasized the critical role of credit in driving a green economy. Onalo revealed that NICA is collaborating with the National Universities Commission (NUC) to introduce credit management as a core academic discipline in higher institutions across the country.

"An effective credit system is crucial for the green economy we aim for," Onalo stated. "Nigeria cannot afford to lag behind, and this conference will chart the course for embracing credit as a vital tool for achieving our economic and social goals."

Eminent personalities like Chris J. Maiyaki, Acting Secretary of the NUC, and Mazi Afam J. Osigwe, President of the Nigerian Bar Association, are expected to contribute to the discussion, along with NICA Fellows and members from the credit management sector.

As Nigeria seeks to boost industrial output and build a resilient, people-centered economy, Onalo highlighted that credit culture is key to fostering financial inclusion, driving industrialization, and aligning with global economic trends toward sustainability. This conference is not just a meeting of minds but a platform to support the Tinubu administration’s efforts to build a stronger and more sustainable Nigerian economy through credit.

Stay tuned as Nigeria sets its sights on a credit-driven economic future!