President Bola Ahmed Tinubu has approved the establishment of the National Credit Guarantee Company Limited (NCGC), a key initiative aimed at enhancing access to credit for micro, small, and medium enterprises (MSMEs) across Nigeria.
In a significant development, former Speaker of the House of Representatives, Rt. Hon. Yakubu Dogara, has been appointed as the Chairman of the Board of the newly established company.
The NCGC is designed to provide guarantees to lenders, thereby reducing the risk of lending to MSMEs and promoting increased financing for small businesses — a move the presidency describes as vital for economic growth, job creation, and financial inclusion.
According to a statement from the Presidency, the initiative aligns with Tinubu’s Renewed Hope Agenda and demonstrates a continued commitment to empowering entrepreneurs and strengthening the foundation of Nigeria’s economy.
Dogara’s appointment is expected to bring legislative insight and governance experience to the company’s strategic operations and policy alignment.
The company will operate under the supervision of the Federal Ministry of Finance, with collaboration from relevant financial sector stakeholders.