President Bola Tinubu has said the Federal Government will in 2025 establish the National Credit Guarantee Company to expand risk-sharing instruments for financial institutions and enterprises.

He said this will further consolidate and increase access to credit for individuals and critical sectors of the economy to boost national economic output.

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.

Tinubu revealed that the 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,” he said.

The President made this known in a New Year message to Nigerians, in which he promised to unveil the benefits of the reforms his administration embarked on in 2024.