BY AFOLABI OLANREWAJU
UNIHUB CONNECT TV
In a bold move to stimulate economic growth and empower marginalized groups, Nigeria's government, under the leadership of President Bola Tinubu, has unveiled plans to launch a National Credit Guarantee Company by May 2025. This innovative program aims to dismantle barriers to credit access for small businesses, entrepreneurs, and underserved demographics, such as women and youth.
Unlike traditional credit systems, this initiative focuses on collaboration between public and private sectors to mitigate lending risks, enabling financial institutions to extend loans more confidently. Experts believe this could be a game-changer in addressing unemployment, poverty, and economic inequality in the country.
By positioning the initiative as part of broader economic reforms, the government aims to not only stabilize the financial ecosystem but also inspire similar approaches across Africa. As the countdown begins, stakeholders are eager to see the transformative potential of this program.
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