The National Credit Guarantee Company (NCGC) has kicked off a nationwide stakeholders’ engagement forum an important step in its mission to expand credit access for Micro, Small, and Medium Enterprises (MSMEs), local manufacturers, and underserved credit consumers.
Speaking at the launch, Managing Director Mr. Bonaventure Okhaimo highlighted the forum as a key part of NCGC’s strategy to de-risk lending and unlock finance for sectors that have long struggled with limited access to credit. He noted that the Company was created to complement and strengthen existing efforts by Development Finance Institutions, banks, and government initiatives.
With an initial capital base of ₦100 billion, NCGC is set to provide partial credit guarantees that help lenders share risk and confidently extend credit to more businesses. This guarantee structure reduces potential losses for financial institutions ultimately enabling more MSMEs and local manufacturers to secure the funding they need to grow.
Despite Nigeria’s expanding economy, Okhaimo acknowledged the persistent challenges that small businesses face: limited collateral, high-risk perception, and costly borrowing conditions. The NCGC, he explained, is designed to bridge this gap by offering a reliable safety net that supports lenders while empowering entrepreneurs.
“Our success hinges on inclusive partnerships and collaboration,” he emphasized. “By working together, we can build a more inclusive, resilient, and dynamic credit market in Nigeria.”
The launch of the forum comes at a time when an estimated 80% of Nigerian MSMEs lack access to formal credit a gap the NCGC aims to meaningfully address. Its guarantee schemes are expected to boost financial inclusion, strengthen value chains, and drive sustainable economic growth.
As the engagement forum sets the tone for deeper collaboration across the financial sector, Okhaimo called on industry partners to embrace a shared vision for nationwide impact.
“Let us move from dialogue to design, from intention to impact,” he said. “At NCGC, we are open for business. Let today mark the start of a deep, strategic, and sustained partnership that will reshape Nigeria’s credit landscape.”
The initiative marks a new chapter in Nigeria’s journey toward a more inclusive and empowered financial ecosystem—one where access to credit becomes a catalyst for broad-based prosperity.