Tinubu to launch National Credit Guarantee Company by Q2 2025
By Austine Emmanuel, Kaduna
President Bola Ahmed Tinubu has announced the establishment of the National Credit Guarantee Company (NCGC), a transformative initiative aimed at expanding access to credit for individuals and businesses across Nigeria.
The president disclosed this in his new year message on Wednesday, said that the project is slated to commence operations by the second quarter of 2025. He noted that the NCGC is a key pillar of the ambitious economic agenda, both for recovery and growth.
The initiative according to him is a collaborative effort involving government institutions, the private sector, and multilateral organizations. It is designed to address credit gaps, particularly for underserved groups such as women, youth, and small and medium enterprises (SMEs).
“This initiative will strengthen the financial system, expand credit access, and support under-served groups,” Tinubu said, emphasizing its potential to foster growth, re-industrialization, and improved living standards for Nigerians.
The NCGC will provide risk-sharing instruments for financial institutions, encouraging them to lend more confidently to individuals and enterprises in critical sectors. The partnership includes institutions such as the Bank of Industry, Nigerian Consumer Credit Corporation, Nigerian Sovereign Investment Agency, and Ministry of Finance Incorporated.
Tinubu highlighted the significance of the initiative in achieving his administration’s goal of a one trillion-dollar economy. “This effort is crucial to driving re-industrialization, creating wealth, and uplifting our people,” he said.
The president also reaffirmed his administration’s broader economic vision, which includes reducing inflation from 34.6% to 15%, boosting food production, and promoting local manufacturing of essential drugs.
With the NCGC poised to unlock financial opportunities for many Nigerians, the initiative signals a decisive move toward inclusive economic growth, particularly for women, youth, and SMEs that have long struggled with limited credit access.
