Over 67,000 Nigerians have benefitted from NCGC N46.9bn loans — Tinubu

President Bola Ahmed Tinubu has announced that participating lenders have successfully extended N46.95 billion in loans to 67,512 Nigerians through the National Credit Guarantee Company (NCGC).

President Tinubu made this disclosure in a statement shared on his official X account on Monday. 

According to the President, the government-owned credit firm has issued N21.59 billion in guarantees to date, supporting borrowers across 25 states and the Federal Capital Territory, with women accounting for 11,374 of the beneficiaries.

Highlighting the impact of the initiative on financial inclusion, Tinubu noted that 3.5% of the beneficiaries are first-time formal borrowers.

“3.5 percent are first-time formal borrowers. For more than 22,000 Nigerians, this is their first entry into the formal credit system.”

“They now have a credit record they can build. Each successful repayment strengthens that record and can make the next loan easier to secure.”

“For more than 22,000 Nigerians, this is their first entry into the formal credit system. They now have a credit record they can build. Each successful repayment strengthens that record and can make the next loan easier to secure,” he stated.