The National Credit Guarantee Company (NCGC) has officially launched in Nigeria, marking a significant step towards boosting credit access for Micro, Small, and Medium Enterprises (MSMEs). With an initial capital of ₦100 billion, NCGC aims to transform the credit landscape for MSMEs, driving productivity, job creation, and broad economic growth in line with President Bola Ahmed Tinubu's Renewed Hope Agenda ¹.

*Key Features of NCGC:*

- *Credit Guarantees*: NCGC provides credit guarantees to reduce risk for lenders, unlocking access to capital for entrepreneurs, especially in underserved sectors.

- *Target Beneficiaries*: MSMEs across all regions, local manufacturers, value chain operators, credit consumers, youth and women-led enterprises, export-oriented businesses, and large enterprises within priority sectors.

- *Core Services*: Partial Credit Guarantees covering up to 60% of outstanding principal on qualifying loans ².

*Impact and Expectations:*

- *Increased Access to Credit*: NCGC's credit guarantees will enable MSMEs to access affordable credit, driving grassroots economic growth and development.

- *Job Creation*: By supporting MSMEs, NCGC aims to create jobs and alleviate poverty, contributing to the country's economic prosperity.

- *Economic Growth*: The initiative is expected to have a positive impact on the Nigerian economy, stimulating growth and development ³.

*Leadership and Partnerships:*

- *Leadership*: Bonaventure Okhaimo, MD/CEO of NCGC, has expressed optimism about the company's potential to revolutionize credit access for MSMEs.

- *Partnerships*: NCGC will work closely with regulators, private sector organizations, financial institutions, and stakeholders to ensure its policies and processes meet global best practices ⁴.