The Managing Director of Sofri, Mr. Paul Adebayo, has identified the lack of reliable data as a major hurdle to credit access in Nigeria.
Adebayo, who stated this during Sofri’s relaunch media parley held in Lagos, noted that without a robust data ecosystem, the financial sector will struggle to scale inclusive lending products.
According to him, the credit industry in Nigeria suffers from limited and low-quality data, which hampers the ability of lenders to assess risk and design effective credit products.
