President Bola Ahmed Tinubu declared on Monday that the newly established National Credit Guarantee Company (NCGC) successfully facilitated ₦46.95 billion in loans to Nigerian businesses and households in its first year, marking a critical milestone in the administration’s push to build a consumer credit-driven economy.
Speaking through a press statement issued from the State House in Abuja on September 28, 2026, President Tinubu framed the NCGC’s performance as proof that structural economic reforms are beginning to yield direct financial relief for citizens and micro, small, and medium-scale enterprises (MSMEs).
”Our reforms laid the foundation; credit gives Nigerians the means to build on it,” President Tinubu said. “Credit matters because of what people can do with it. A trader can restock before the festive season, and when a manufacturer takes a bigger order and buys another machine to fill it, another Nigerian gets a job.”
According to operational performance metrics released alongside the presidential address by the Special Adviser to the President on Special Duties and Communication, the NCGC issued ₦21.59 billion in partial loan guarantees to participating financial institutions.
The risk-sharing mechanism generated a 2.17x leverage ratio, effectively multiplying public funds into direct commercial lending across 25 states and the Federal Capital Territory (FCT).
The guarantees backed funding for 67,512 individual and corporate borrowers, significantly widening access to formal banking channels in historically underbanked sectors.
Key performance indicators from the first-year report include; First-Time Borrowers of Over 22,000 individuals (33.5% of total beneficiaries) entered the formal financial system for the first time.
Women-Led Enterprises: 11,374 female entrepreneurs secured funding, representing roughly 16.8% of total allocations.
Supported enterprises are projected to create or maintain 661,291 direct and indirect jobs. The scheme mobilized 19 participating financial institutions, comprising 13 commercial banks, three microfinance institutions, and three development finance entities.
The NCGC operates as part of an interconnected ecosystem designed to de-risk lending across key demographics. The company works in tandem with the Nigerian Consumer Credit Corporation (CREDICORP), the Nigerian Education Loan Fund (NELFUND), the Bank of Industry (BOI), and the Development Bank of Nigeria (DBN).
Addressing economic stakeholders at the Presidential Villa, government officials reaffirmed the administration’s target to double total guarantee volumes in the upcoming fiscal year as more commercial lenders integrate into the framework.
