Credit culture is an economic environment where people have access to loans and credit facilities to support their business and other economic activities.
In developing such an economy, financial institutions will be encouraged by policy to be more willing to offer loans to individuals and businesses, based on their ability and willingness to repay,Although details of President Bola Tinubu's proposal has not been outlined yet, it could reduce the barriers to obtaining loans and other credit facilities, which will provide a pathway for
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Nigeria - One Country, 16 Leaders Since IndependenceSince gaining independence in 1960, Nigeria has had its fair share of turbulence and bliss. With democracy stabilising after 29 years of military rule, West Africa's largest economy on MY 29, 2023 inaugurated Bola Tinubu as its 16th head of state since independence and fifth elected president since 1999, writes Chiamaka Okafor for Premium Times. Nigeria, a former British colony, gained independence in 1960. It experienced a series of political transitions, including the First Republic, marked by a coup and a civil war. The last colonial governor-general, Sir James Robertson, oversaw a parliamentary election in 1959 that launched Nigeria into independence under the leadership of Abubakar Tafawa Balewa. The country transitioned to the Second Republic in 1979, with Shehu Shagari becoming president. However, the Second Republic was short-lived, as Sani Abacha seized power in a coup in 1983. Abacha's regime was marked by political turmoil, including the annulment of the 1993 presidential election won by Moshood Abiola. After Abacha's death in 1998, Abdulsalami Abubakar took over and organized a transition to civilian rule. Olusegun Obasanjo was elected president in 1999, marking the beginning of the Fourth Republic. Subsequent presidents were Umaru Yar'Adua, Goodluck Jonathan, Muhammadu Buhari, and currently, Bola Tinubu. Nigeria has faced challenges such as political instability, insecurity, and economic issues throughout its history.
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