The National Credit Guarantee Company Limited (NCGC) has supported loans price N64.13 billion to 174,495 debtors throughout Nigeria, because the federal authorities intensifies efforts to develop entry to finance for companies and people.
The Managing Director and Chief Executive Officer of NCGC, Dr Bonaventure Okhaimo, disclosed this throughout a press briefing on the State House, Abuja.
Okhaimo mentioned the loans had been supported by ensures valued at N30.19 billion, representing roughly N2.12 in lending for each N1 assured by the corporate.
According to him, the programme efficiency report as of October 21, 2026, confirmed that the initiative had reached beneficiaries in all 36 states of the federation and the Federal Capital Territory via 19 collaborating monetary establishments, together with industrial banks, microfinance banks and growth finance establishments.
He defined that NCGC was established to cut back lending dangers for monetary establishments and allow them to increase credit score to companies and people who would possibly in any other case wrestle to safe loans, notably due to insufficient collateral.
The firm doesn’t lend on to debtors however gives partial ensures to collaborating monetary establishments, sharing the chance when eligible debtors fail to repay their loans.
Responding to questions on whether or not the intervention was making loans extra accessible or reasonably priced, Okhaimo mentioned the corporate’s main mandate was to enhance entry to finance, whereas its ensures might additionally assist scale back borrowing prices.
He defined that banks decide rates of interest by contemplating the price of funds, inflation and different financial components, in addition to a threat premium hooked up to debtors thought of extra prone to default.
According to him, the credit score assure scheme is designed to deal with the chance premium by decreasing the potential losses banks face when lending to small companies.
He mentioned the association might encourage monetary establishments to cut back the extra expenses related to lending to MSMEs, probably making loans extra reasonably priced.
Okhaimo, nonetheless, clarified that NCGC didn’t decide the rates of interest charged to beneficiaries as a result of the collaborating monetary establishments had been chargeable for lending the cash.
He added that the corporate was additionally working with the Central Bank of Nigeria to discover methods credit score ensures might appeal to capital reduction for lenders, a growth that would additional encourage lending to small companies.
The NCGC chief govt mentioned the intervention was notably essential for entrepreneurs whose companies could be viable however who lacked the standard collateral required by banks.
He cited younger individuals working within the inventive and know-how sectors as examples of potential beneficiaries who would possibly wrestle to safe financing as a result of they may not present the normal documentation and collateral demanded by lenders.
On the contribution of small companies to the economic system, Okhaimo mentioned estimates of the contribution of micro, small and medium-sized enterprises various relying on the financial indicator and supply.
He distinguished between their contribution to employment and their contribution to gross home product, explaining that the figures usually quoted for MSMEs didn’t essentially measure the identical factor.
The firm’s efficiency report confirmed that girls accounted for 74,503 debtors, representing 42.7 per cent of the whole beneficiaries.
Additionally, 22,616 debtors, representing 12.96 per cent, accessed formal financing for the primary time, whereas 7,731 beneficiaries had been recorded underneath youth empowerment.
Okhaimo mentioned commerce and commerce, alongside agribusiness and agro-processing, accounted for greater than 80 per cent of beneficiaries supported by the scheme.
He additionally confirmed that the corporate supplied ensures for agriculture, explaining that a few of its preliminary beneficiaries had been smallholder farmers introduced into the programme via an agricultural aggregator working in north-central Nigeria.
On employment, he disclosed that collaborating monetary establishments reported 175,481 direct jobs related to the debtors supported by the scheme.
The firm estimated an extra 739,310 oblique jobs, bringing the whole variety of jobs impacted to 914,791.
Explaining the figures, Okhaimo mentioned the direct employment numbers had been based mostly on data submitted by collaborating monetary establishments, whereas oblique jobs had been calculated utilizing financial multipliers utilized to completely different sectors.
He defined that the methodology thought of the oblique financial actions generated by lending to companies, together with agricultural enterprises, whereas adjusting the estimates to mirror NCGC’s share of the lending threat.
The NCGC boss additionally highlighted the corporate’s GuaranteeHer initiative, a gender-responsive credit score assure framework designed to enhance entry to financing for women-owned companies.
Launched on July 29, 2026, and ceremonially unveiled on the firm’s first-anniversary stakeholders’ discussion board on September 3, the initiative is designed to strengthen present women-focused lending programmes operated by collaborating monetary establishments.
Rather than introduce a wholly new lending product, GuaranteeHer gives an extra risk-sharing framework for present initiatives, together with Access Bank’s W Initiative, FirstBank’s FirstGem, FCMB’s SheVentures, Sterling’s Smart Women and Fidelity’s FundHer.
Under the programme, NCGC targets greater than N100 billion in lending over 5 years, financing at the very least 20,000 women-owned MSMEs and supporting 150,000 jobs.
The initiative gives for assure protection of as much as 70 per cent of eligible mortgage publicity, with a most obligor restrict of N50 million per borrower.
An NCGC official mentioned the programme was designed to deal with boundaries ladies entrepreneurs face in accessing financial institution loans, notably the issue of offering standard collateral.
The official added that information from the women-focused initiatives referenced throughout the briefing confirmed zero non-performing loans within the portfolios underneath dialogue.
On mortgage defaults and the corporate’s monetary publicity, an NCGC consultant mentioned the corporate was ready to honour legitimate claims submitted by collaborating monetary establishments inside 30 days.
The consultant, nonetheless, disclosed that no collaborating monetary establishment had filed a declare for fee as of Tuesday’s briefing.
The official additionally defined that credit score ensures might scale back a few of the bills related to securing standard loans, together with sure prices associated to perfecting collateral and registering safety preparations.
Such bills, the consultant mentioned, might enhance the general value of borrowing for companies which can be required to offer standard collateral.
By decreasing dependence on such preparations, the assure scheme might assist decrease some borrowing-related prices, though the rates of interest charged would nonetheless be decided by the lending establishments.
Established by the Federal Government on May 29, 2025, with the approval of President Bola Tinubu, NCGC was licensed by the Central Bank of Nigeria on August 9, 2025, and operates underneath the supervision of the Federal Ministry of Finance.
The firm has a capital base of N100 billion, with equal 25 per cent stakes held by the Bank of Industry, Ministry of Finance Incorporated, Nigeria Sovereign Investment Authority and Nigerian Consumer Credit Corporation (CREDICORP).
NCGC additionally maintains partnerships with establishments together with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), the Central Bank of Nigeria, the Bank of Industry, the National Insurance Commission, the Nigeria Deposit Insurance Corporation and the Nigerian Agricultural Insurance-related help ecosystem, alongside different growth companions.
The firm can also be working with the Federal Ministry of Women Affairs and Social Development on GuaranteeHer and with NIRSAL on a co-guarantee framework for agribusiness.
Okhaimo mentioned the corporate would deepen entry to credit score for girls, younger individuals, MSMEs and productive sectors, develop its community of collaborating monetary establishments, strengthen its capital base and digitise its assure administration processes.
He added that NCGC would proceed to offer capacity-building help to assist companies turn out to be credit-ready, together with via its Credit Advantage Series, which is scheduled to function the Nigeria Revenue Service on October 28, 2026.
He mentioned the corporate’s final goal was to make sure that viable Nigerian companies weren’t denied entry to credit score solely as a result of they lacked enough collateral.
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