Tinubu: NCGC unlocks ₦46.95B loans in first year, targets women with ₦100B GuaranteeHer
President Tinubu announced Monday that Nigeria's National Credit Guarantee Company (NCGC) has unlocked ₦46.95 billion in loans for businesses and individuals in its first year since launching July 2025. The NCGC provided ₦21.59 billion in guarantees to 19 financial institutions (13 commercial banks, 3 micro-finance, 3 development finance), enabling them to lend more than twice that amount to borrowers lacking collateral or credit history.
The program reached 67,512 borrowers across 25 states and the FCT, including 11,374 women (16.8%) and approximately 22,600 first-time formal borrowers (33.5%). Tinubu said these loans support 661,291 direct and indirect jobs. He also unveiled the GuaranteeHer initiative targeting over ₦100 billion in financing for 20,000 women-owned businesses in five years to address women's finance access gap.
This credit push is part of broader govt reforms including CREDICORP (consumer credit), NELFUND (student loans), and BOI/DBN lending. Will easier access to formal credit through NCGC guarantees help you start or expand your business, or do you know women entrepreneurs who could benefit from GuaranteeHer?