Tinubu Says Nigeria Credit Company to Launch This Year

By Adedapo Adesanya

Nigeria will launch the National Credit Guarantee Company dedicated to increasing access to credit for individuals and critical sectors of the economy.

This was disclosed by President Bola Tinubu in his 2025 New Year’s Message to Nigerians on Wednesday, as he promised to look into the skyrocketing cost of living affecting citizens.

He said the move would help alleviate food costs and also promote local manufacturing of essential drugs and other medical supplies in the New Year.

According to the President, the new company, expected to begin operations before the end of the second quarter of the new year, is a partnership of government institutions, including the Bank of Industry (BOI) Nigerian Consumer Credit Corporation (NCCC), the Nigerian Sovereign Investment Agency (NSIA), the Ministry of Finance Incorporated (MOFI), the private sector and multilateral institutions.

“This initiative will strengthen the confidence of the financial system, expand credit access, and support under-served groups such as women and youth. It will drive growth, re-industrialisation, and better living standards for our people.

“On a personal note, thank you for placing your confidence in me as your president. Your trust humbles me, and I promise to continue serving you diligently and wholeheartedly.

“We will continue to embark on necessary reforms to foster sustainable growth and prosperity for our nation.

‘’I seek your cooperation and collaboration at all times as we pursue our goal of a one trillion-dollar economy. Let us stay focused and united,” the president said.

“As the new year dawns, it brings many hopes, aspirations, and prospects for better days. By the grace of God, 2025 will be a year of great promise in which we will fulfil our collective desires.

“Though 2024 posed numerous challenges to our citizens and households, I am confident that the New Year will bring brighter days. Economic indicators point to a positive and encouraging outlook for our nation.

President Tinubu said, “In 2025, our government is committed to intensifying efforts to lower these costs by boosting food production and promoting local manufacturing of essential drugs and other medical supplies. We are resolute in our ambition to reduce inflation from its current high of 34.6 per cent to 15 per cent. With diligent work and God’s help, we will achieve this goal and provide relief to all our people.

“In this new year, my administration will further consolidate and increase access to credit for individuals and critical sectors of the economy to boost national economic output,” he promised.