The Federal Government has reaffirmed its commitment to expanding access to finance for Micro, Small, and Medium Enterprises (MSMEs), manufacturers, and individuals—sectors regarded as vital engines of economic resilience, industrial growth, and job creation.
Minister of State for Finance, Dr. Doris Uzoka-Anite, gave the assurance in Abuja today when she received the Board and Management of the National Credit Guarantee Company Limited (NCGC), led by its Managing Director/Chief Executive Officer, Mr. Bonaventure E. Okhaimo.
Commending the Company’s rapid establishment and professional rollout, Dr. Uzoka-Anite said NCGC is a key instrument under President Bola Ahmed Tinubu’s Renewed Hope Agenda to boost Nigeria’s industrial base and broaden inclusive growth.
Director of Information and Public Communication, Muhammed Manga in a statement quoted the minister to have said,
“The success of any institution rests on the calibre of its people. I have full confidence in the leadership and management of NCGC to deliver on this vital mandate,” the Minister stated.
She emphasized that the Ministry of Finance will continue to provide institutional support to ensure NCGC fulfills its role of sharing up to 60% of credit risk with financial institutions, thereby unlocking long-term financing for MSMEs, strengthening manufacturers, and shielding the economy from external shocks.
Speaking earlier, Mr. Okhaimo thanked the Minister for her support and pledged that NCGC would remain focused on catalyzing credit access across Nigeria.
“We are structured to provide assurance to lenders, thereby stimulating credit flow into productive sectors of the economy,” he said.
Also speaking, the Permanent Secretary, Mrs. Lydia Shehu Jafiya, praised the progress made in operationalizing NCGC and reaffirmed the Ministry’s readiness to back the institution.
“With the right structures and leadership in place, we are confident the Company will play a transformative role in de-risking lending and empowering SMEs and manufacturers,” she said.
NCGC, which reports directly to the Federal Ministry of Finance, is one of the newest federal agencies. Its establishment represents a major milestone in bridging Nigeria’s structural financing gaps, advancing industrial development, and promoting wider financial inclusion.