Nigeria to expand credit access to citizens

LAGOS: Nigeria will establish a national credit guarantee company in May to lend to businesses and individuals, President Bola Tinubu said in an speech on Wednesday.

Tinubu, who took office in May 2023, campaigned on economic reforms including expanding credit access to boost economic growth.

“To achieve this, the federal government will establish the National Credit Guarantee Company to expand risk-sharing instruments for financial institutions and enterprises.