*President Bola Ahmed Tinubu says the establishment of a National Credit Guarantee Company come May 2025 will help Nigeria to improve access to credit for individual consumers and businesses towards advancing financial inclusion while stimulating economic growth

Alexander Davis | 绿帽献妻

In line with the Federal Government’s agenda to economic reform agenda to bolster financial inclusion and stimulate economic growth,

President Bola Ahmed Tinubu has said his administration will establish a National Credit Guarantee Company May 2025.

绿帽献妻 reports President Tinubu, who disclosed this development recently, assured the new Company would help the country to improve access to credit for individual consumers and businesses.

The initiative is said to be part of the current administration’s economic reform agenda to expand risk-sharing instruments for financial institutions in Nigeria.

The President had stated: 鈥淭his initiative will strengthen the confidence of the financial system, expand credit access, and support underserved groups such as women and youth.”

The government noted the new company will collaborate with key government agencies, including the Bank of Industry (BoI), the Nigerian Consumer Credit Corporation, the Nigerian Sovereign Investment Agency (NSIA), and Ministry of Finance Incorporated (MOFI) alongside private sector and multilateral organisations.

Tinubu, in 2024, had launched the Nigerian Consumer Credit Corporation to enhance credit access for employed Nigerians.

Initially targeting Federal Civil Service employees, the programme has since expanded to include the general public.

In regard to the expansion of the scope of coverage, the President stressed the move is part of a broader effort at driving re-industrialisation and improving living standards of Nigerians.

听