NCGC supports N64bn in loans within first year of operation
The National Credit Guarantee Company (NCGC) has supported ₦64.13 billion in loans, backed by ₦30.19 billion in guarantee value, to 174,495 beneficiaries within its first year of operation.
In Brief
- •The National Credit Guarantee Company (NCGC) has supported ₦64.13 billion in loans, backed by ₦30.19 billion in guarantee value, to 174,495 beneficiaries within its first year of operation.
- •74,503 beneficiaries (42.7%) are women, with 22,616 accessing formal finance for the first time and 7,731 under youth empowerment.
- •Trade, commerce, agribusiness, and agro-processing account for 80% of total beneficiaries, with 914,791 jobs impacted.
Why It Matters
The NCGC's operations are crucial for driving sustainable economic development in Nigeria. By providing partial guarantees to de-risk lending, the company expands credit supply and catalyzes economic growth. The initiative aims to support businesses and consumers, particularly women and youth, to access finance and drive economic development. The NCGC's partnerships with financial institutions and other organizations further enhance its ability to reach end-borrowers across the country.
Key Details
- Total Loans Supported
- ₦64.13 billion
- Guarantee Value
- ₦30.19 billion
- Total Beneficiaries
- 174,495
- Women Beneficiaries
- 74,503 (42.7%)
- First-Time Formal Finance Access
- 22,616
- Youth Empowerment Beneficiaries
- 7,731
- Total Impacted Jobs
- 914,791
Context & Background
The NCGC was established on 29 May 2025 by President Bola Tinubu with a capital base of ₦100 billion. The company aims to facilitate access to finance for businesses and consumers to drive sustainable economic development in Nigeria.
Original Reporting & Sources
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