President Bola Tinubu announced plans to establish a National Credit Guarantee Company in May 2025, a key initiative aimed at expanding access to credit for businesses and individuals across Nigeria.
This move aligns with President Tinubu’s campaign promise to drive economic reforms and foster inclusive growth.
The National Credit Guarantee Company will play a crucial role in mitigating risks for financial institutions, thereby encouraging them to lend more readily to businesses and individuals, particularly underserved segments such as women and youth. 
This collaborative effort will involve key government institutions, including the Bank of Industry, the Nigerian Consumer Credit Corporation, the Nigerian Sovereign Investment Agency, and the Ministry of Finance Incorporated, alongside private sector players and multilateral institutions.
By strengthening the confidence of the financial system and expanding credit availability, the government aims to stimulate economic growth, drive re-industrialization, and improve living standards for all Nigerians.
This initiative builds upon the successful launch of the Nigerian Consumer Credit Corporation earlier this year, which has already begun extending credit to federal civil servants.
The expansion of this program to the general public represents a significant step towards achieving greater financial inclusion and economic empowerment for all Nigerians.
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