The federal government will establish the National Credit Guarantee Company to expand risk-sharing instruments for financial institutions and enterprises by second quarter of 2025.
TheNewsGuru.com, TNG reports this was contained in President Tinubu’s new year message to Nigerians.
He explained that: “The Company—expected to start operations before the end of the second quarter—is a partnership of government institutions, such as the Bank of Industry, Nigerian Consumer Credit Corporation, the Nigerian Sovereign Investment Agency, and Ministry of Finance Incorporated, the private sector, and multilateral institutions.
“This initiative will strengthen the confidence of the financial system, expand credit access, and support under-served groups such as women and youth.
” It will drive growth, re-industrialisation, and better living standards for our people.
“We will continue to embark on necessary reforms to foster sustainable growth and prosperity for our nation.
“I seek your cooperation and collaboration at all times as we pursue our goal of a one trillion-dollar economy. Let us stay focused and united.