The National Credit Guarantee Company Limited (NCGC) has unlocked N46.95 billion in credit for businesses and individuals across Nigeria within its first year of operations, as it seeks to expand access to formal financing for underserved borrowers.
The company provided N21.59 billion in guarantee cover, enabling participating financial institutions to extend approximately N46.95 billion in loans to 67,512 end-borrowers across 25 states and the Federal Capital Territory as of August 2026.
The figures were disclosed at the NCGC Stakeholders’ Forum 2026 in Lagos, held under the theme, “Credit Guarantees as a Catalyst for Inclusive Economic Growth.”
According to NCGC, its intervention has impacted an estimated 661,291 direct and indirect jobs, while 33.5 percent of its beneficiaries, representing more than 22,600 borrowers, were first-time borrowers entering the formal credit market.
The company said the results demonstrated the potential of credit guarantees to widen access to finance by enabling lenders to share some of the risks associated with extending credit to businesses and individuals who may otherwise struggle to meet conventional lending requirements.
