Nigeria's NCGC disburses ₦46.9 billion in loans with women representing 17%
The National Credit Guarantee Company has released ₦46.9 billion in new lending, yet female-owned businesses received funding for only 16.8% of projects.
Nigeria's National Credit Guarantee Company (NCGC) has unlocked ₦46.9 billion in loans during its first operational year. Nineteen participating financial institutions provided ₦21.59 billion in risk cover to support the program. The intervention reached 67,512 end-borrowers across 25 states and the Federal Capital Territory. Approximately 22,600 borrowers are classified as first-time formal borrowers. The credit mechanism supports an estimated 661,291 direct and indirect jobs. Only 11,374 beneficiaries were female-owned enterprises, accounting for about 16.8% of total borrowers. Women accounted for 17% of the broader beneficiary population. Conventional banking models often deem many businesses too risky, though collateral requirements remain a significant barrier for women-owned firms seeking formal financing.
