Nigeria’s Credit Push Unlocks ₦46.95bn in Loans for 67,512 Borrowers

economy
Written by Ayomide Fiyinfunoluwa
tinubu-i-promised-nigerians-credit-based-economy.

Nigeria expands access to formal credit

Nigeria’s drive towards a more credit-based economy has gained momentum, with the National Credit Guarantee Company (NCGC) enabling participating financial institutions to extend ₦46.95 billion in loans to 67,512 borrowers across 25 states and the Federal Capital Territory.

The figure represents lending backed by ₦21.59 billion in guarantees issued by the NCGC during its first year of operations, according to President Bola Tinubu.

/ You Might Also Like /

Featured
PropTech in Nigeria: An Investor’s Introductory Guide
PropTech in Nigeria: An Investor’s Introductory Guide
Read more →
Marine Board in Nigeria: How to Choose the Right Board for Construction Projects
Marine Board in Nigeria: How to Choose the Right Board for Construction Projects
Read more →
10 Most Developed Cities in Africa: The Ultimate Infrastructure & Livability Guide
10 Most Developed Cities in Africa: The Ultimate Infrastructure & Livability Guide
Read more →
Can Foreigners Buy Land in Nigeria? Legal Framework & Rules
Can Foreigners Buy Land in Nigeria? Legal Framework & Rules
Read more →

READ MORE

Featured
Oyetola Woos Investors to Nigeria’s Catfish Industry as Fish Supply Gap Hits 2.2 Million Tonnes
Oyetola Woos Investors to Nigeria’s Catfish Industry as Fish Supply Gap Hits 2.2 Million Tonnes
Read more →
Nigeria Meets OPEC Oil Quota for Sixth Consecutive Month as October Output Reaches 1.68m Barrels Per Day
Nigeria Meets OPEC Oil Quota for Sixth Consecutive Month as October Output Reaches 1.68m Barrels Per Day
Read more →
FG Advances Procurement of Four New Satellites to Strengthen Nigeria’s Space Capabilities
FG Advances Procurement of Four New Satellites to Strengthen Nigeria’s Space Capabilities
Read more →
Lagos Red Line Expands Capacity with Three New Trains and 24 Coaches
Lagos Red Line Expands Capacity with Three New Trains and 24 Coaches
Read more →
Tinubu Calls for Stronger Corporate Governance to Drive Nigeria’s $1 Trillion Economy Ambition
Tinubu Calls for Stronger Corporate Governance to Drive Nigeria’s $1 Trillion Economy Ambition
Read more →
Featured
FCDA and Giddaa: What the FCDA's PPP  Programme Means for Developers and Buyers 
FCDA and Giddaa: What the FCDA's PPP  Programme Means for Developers and Buyers 
Read more →
The Ignored Issues Scaring Away Nigeria's Housing Investors
The Ignored Issues Scaring Away Nigeria's Housing Investors
Read more →
Trust, Documentation, and Delivery: The New Standard for Property Investment in Nigeria.
Trust, Documentation, and Delivery: The New Standard for Property Investment in Nigeria.
Read more →
Beyond Infrastructure: The Behavioral and Capital Signals Shaping Lagos Real Estate
Beyond Infrastructure: The Behavioral and Capital Signals Shaping Lagos Real Estate
Read more →
Global Disruptions Are Increasing Demand for Move-In Ready Homes in Nigeria
Global Disruptions Are Increasing Demand for Move-In Ready Homes in Nigeria
Read more →
Ayomide Fiyinfunoluwa

Written by Ayomide Fiyinfunoluwa, Housing Journalist & Daily News Reporter

Ayomide is a dedicated Housing Journalist at Nigeria Housing Market, where he leads the platform's daily news coverage. A graduate of Mass Communication and Journalism from Lagos State University (LASU), Ayomide applies his foundational training from one of Nigeria’s most prestigious media schools to the fast-paced world of property development. He specializes in reporting the high-frequency events that shape the Nigerian residential and commercial sectors, ensuring every story is anchored in journalistic integrity and professional accuracy.

connect on linkedin

https://www.nigeriahousingmarket.com/author/ayomide-fiyinfunoluwa
Previous

21 Firms Fined ₦630m for Operating Investment Schemes Without SEC Licences
Next

NiMet Forecasts Three Days of Thunderstorms as Flood Risks Persist Across Nigeria