The federal government has inaugurated the board of the National Credit Guarantee Company Limited (NCGC), a new initiative aimed at improving access to affordable financing for micro, small, and medium enterprises (MSMEs) across Nigeria.
Vice President Kashim Shettima, who presided over the inauguration at the Presidential Villa in Abuja, described the NCGC as a crucial step toward promoting economic inclusion and grassroots development through increased access to credit.
“This is a critical engine in our pursuit of sustainable growth,” he said. “These entrepreneurs don’t seek handouts—they simply want their ideas to be met with the confidence of our financial institutions.”
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The NCGC, which was officially established on May 29, 2025, by President Bola Tinubu with an initial capital base of ₦100 billion, is expected to provide credit guarantees to small businesses that have long struggled to secure loans from banks.
According to Shettima, the company will serve as a trusted bridge between lenders and business owners in sectors such as agriculture, manufacturing, services, and technology.
To drive the initiative, the president has appointed former Speaker of the House of Representatives, Yakubu Dogara, as the board chairman.
The move comes as part of broader efforts by the federal government to support small businesses and unlock the potential of Nigeria’s MSME sector, which is widely regarded as a key driver of employment and economic growth.
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