The Federal Government has reaffirmed its commitment to expanding access to finance for Micro, Small and Medium Enterprises (MSMEs), manufacturers, and individuals—sectors it describes as vital for economic growth and job creation.
Minister of State for Finance, Dr. Doris Uzoka-Anite, gave the assurance in Abuja while receiving the management of the National Credit Guarantee Company Limited (NCGC), led by its MD/CEO, Mr. Bonaventure Okhaimo.
She noted that NCGC was set up in line with President Bola Tinubu's Renewed Hope Agenda to strengthen Nigeria's industrial capacity. The Company will share up to 60% of credit risk with financial institutions, making it easier for SMEs and manufacturers to access loans.
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Okhaimo pledged that NCGC would drive credit flow to productive sectors, while the Permanent Secretary, Mrs. Lydia Jafiya, described the company as a transformative vehicle for de-risking lending and empowering businesses.
The NCGC, one of the newest FG agencies, is expected to bridge financing gaps, foster industrial growth, and promote financial inclusion nationwide.
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