FG launches the NCGC initiative to expand the MSME – Thage loan

L-R: PS, Ministry of Finance, Mrs Lydia Shehu Jafiya, Mr Bonaventure E. Okhaimo, MD/CEO, National Credit Guarantee Company Limited (NCGC), Dr. Doris Uzoka-Anite, Minister of State, Finance, Tinuola Aigwedo, E, Strategy and Operations NCGC, and Prof. Ezekiel Oseni, and, Risk Management, NCGC

By Barth Ikiebe

The Federal Government has reaffirmed its commitment in the expansion of access to finances for micro, small and medium -sized enterprises (MSME), producers and individuals, considered vital engines of economic resilience, industrial growth and the creation of jobs.

The Minister of Finance, dr. Doris Uzoka-Anite, he gave Abuja’s certainty when he received the board of directors and management of the National Credit Garstece Company Limited (NCGC), led by his CEO/CEO, Bonaventure E. Okham.

He praised the rapid plant of the company and the professional implementation, dr. Uzoka-Aanite said that NCGC is a key tool under the renewed agenda of the hope of President Bola Ahmed Tinubu to increase the industrial base of Nigeria and expand inclusive growth.

The director of information and public communication, Muhammed Manga in a declaration quoted the minister for saying,

“The success of any institution is based on the caliber of its people. I have full confidence in the leadership and the management of the NCGC to achieve this vital mandate,” said the minister.

He underlined that the Ministry of Finance will continue to provide institutional support to ensure that NCGC plays its role of sharing up to 60% of credit risk with financial institutions, thus unlocking long -term financing for MSME, strengthening producers and protecting the economy from external shocks.

Speaking previously, Okhaimo thanked the minister for his support and promised that NCGC would remain concentrated on the catalization of access to credit throughout Nigeria.

“We are structured to provide guarantee to the lenders, thus stimulating the credit flow in the production sectors of the economy,” he said.

Even speaking, the permanent secretary, Mrs. Lydia Shehu Jafiya, praised the progress made in the operation of the NCGC and has reaffirmed the promptness of the Ministry to support the institution.

“With the right structures and the leadership in progress, we are confident that the company will play a transformative role in devastating loans and strengthening of SMEs and producers,” he said.

NCGC, which directly reports to the Ministry of Federal Finance, is one of the most recent federal agencies. Its institution represents a large milestone in filling the gaps of structural funding of Nigeria, advance industrial development and promote a wider financial inclusion.

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