More than 67,000 Nigerians across 25 states and the Federal Capital Territory have accessed credit backed by the National Credit Guarantee Company (NCGC), President Bola Tinubu has disclosed.

According to reports by Channels Television and The Sun, the NCGC has issued ₦21.59 billion in guarantees, helping participating financial institutions provide ₦46.95 billion in loans to beneficiaries.

Tinubu said 67,512 borrowers have benefited so far, including 11,374 women, while 33.5 per cent are first-time formal borrowers. He added that more than 22,000 Nigerians have entered the formal credit system for the first time through the initiative.

The President said the scheme is part of efforts to expand access to credit and move Nigeria towards a credit-based economy.

He also disclosed that businesses supported through the programme are estimated to have contributed to 661,291 direct and indirect jobs, while the NCGC currently works with 19 financial institutions.

Tinubu said the Federal Government would continue expanding the programme to enable more Nigerians and businesses access formal credit.