Abuja, Nigeria – July , 2025 — Vice President Kashim Shettima has officially inaugurated the Board of the National Credit Guarantee Company (NCGC), a strategic institution designed to enhance access to credit for Micro, Small, and Medium Enterprises (MSMEs) across Nigeria.
The inauguration ceremony, held at the Presidential Villa in Abuja, marks a critical step in the Federal Government’s broader agenda to stimulate economic growth, empower entrepreneurs, and deepen financial inclusion.
In his remarks, Vice President Shettima emphasized the pivotal role of credit in driving innovation, job creation, and poverty reduction. He noted that the NCGC would serve as a catalyst for sustainable development by de-risking lending to MSMEs and supporting financial institutions in extending credit to the underserved sectors of the economy.
“The establishment of this company reaffirms our administration’s commitment to fostering a vibrant entrepreneurial ecosystem. With adequate access to finance, our MSMEs will become engines of economic transformation,” Shettima stated.
The NCGC is expected to operate as a public-private partnership, providing guarantees to commercial banks and other financial institutions against potential losses from loans issued to qualified MSMEs. This initiative is also aligned with President Bola Tinubu’s Renewed Hope Agenda to diversify the economy and expand job opportunities.
Members of the newly inaugurated board include professionals from the financial, legal, and business sectors, chosen for their expertise and commitment to national development.
The company’s operations will commence immediately, with a mandate to work closely with the Central Bank of Nigeria (CBN), the Bank of Industry (BoI), and other stakeholders to ensure widespread impact across all regions of the country.
