Vice President Kashim Shettima on Thursday inaugurated the Board of Directors of the National Credit Guarantee Company Limited (NCGC Ltd), signaling a significant step towards unlocking credit access for Nigeria's vital Micro, Small, and Medium Enterprises (MSMEs).
This move, a core part of the Tinubu administration's economic reforms, aims to address the persistent challenge of financial exclusion for small businesses.
Speaking at the Presidential Villa, VP Shettima emphasized that the NCGC is a deliberate solution to a long-standing bottleneck in Nigeria's development.
"This is our response to a stubborn challenge that has stifled our economic potential for decades—access to finance," Shettima stated, highlighting that entrepreneurs seek credibility for their ideas, not handouts.
The NCGC, first announced by President Bola Ahmed Tinubu on May 29, 2025, is envisioned as a financial safety net for credible but underfunded entrepreneurs across the nation.
The Vice President described it as a "critical engine" for economic inclusion, bridging the gap between financial institutions and business owners from agriculture to technology.
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He assured that productive citizens, irrespective of their location or sector, will now have a viable path to financing, unhindered by a lack of collateral.
The board, chaired by former Speaker Rt. Hon. Yakubu Dogara, with Mr. Bonaventure Okhaimo as Managing Director and CEO, has been charged with prudence, courage, and accountability.
This inauguration marks a pivotal moment in the government's commitment to fostering inclusive economic growth for millions of Nigerians.
