Tinubu says credit guarantee scheme unlocked ₦46.95bn in first year

President Bola Tinubu announced that the National Credit Guarantee Company (NCGC) has facilitated the unlocking of ₦46.95 billion in loans during its first year of operation. The NCGC issued ₦21.59 billion in loan guarantees, enabling participating lenders to provide financing to 67,512 borrowers across 25 states and the Federal Capital Territory. Women accounted for 11,374 of the beneficiaries, representing approximately 16.8% of the total. The figures indicate that for every ₦1 in guarantees, about ₦2.17 in credit was drawn, reflecting the government's use of public risk-sharing to stimulate private-sector lending.

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