By HeadlineNews.News Editorial Desk
In a bold move aimed at strengthening Nigeria’s access-to-finance ecosystem and accelerating the growth of micro, small, and medium enterprises (MSMEs), President Bola Ahmed Tinubu has appointed Rt. Hon. Yakubu Dogara, former Speaker of the House of Representatives, as the Chairman of the Credit Guarantee Company of Nigeria (CGC).
Reacting to the appointment, Princess Gloria Adebajo-Fraser, MFR, Founder of the National Patriots and Publisher of HeadlineNews.News, extended her congratulations and strong vote of confidence in the capacity of Dogara to deliver effectively.
“Rt. Hon. Dogara’s proven leadership, policy depth, and legislative experience make him uniquely qualified to chair such a pivotal national institution. This appointment is a strategic step that aligns with the Renewed Hope administration’s vision to empower local enterprise and stimulate inclusive economic growth,” she stated.
Credit Guarantee Company of Nigeria: Catalyzing SME Growth
Established under the initiative of the Central Bank of Nigeria (CBN), the Credit Guarantee Company (CGC) is a specialized financial institution designed to de-risk loans provided by banks and other financial institutions to MSMEs. Its primary objective is to stimulate private sector lending by offering credit risk guarantees, thereby increasing access to affordable credit for businesses that traditionally lack collateral.
According to the SMEDAN/NBS MSME Survey (2021), Nigeria has over 39.6 million MSMEs, contributing 49.8% of GDP, 76.5% of employment, but receiving only about 5.5% of credit from deposit money banks.
The CGC aims to reverse this trend by offering up to 75% credit guarantees on bank loans, thereby bridging the gap between lenders and high-potential but underserved enterprises.
Similar models have been successfully implemented in India (Credit Guarantee Fund Trust) and Malaysia (CGC Malaysia), where MSME credit access increased by over 30% within five years of implementation.
Dogara’s leadership at CGC comes at a crucial time when Nigeria seeks to diversify its economy, expand the industrial base, and empower small businesses as drivers of job creation and innovation.
Yakubu Dogara: A Statesman with Proven Competence
Rt. Hon. Yakubu Dogara, a trained lawyer and former legislator from Bauchi State, served as Speaker of the House of Representatives from 2015 to 2019, during which he earned national recognition for his inclusive leadership, commitment to legislative independence, and bipartisan reform efforts.
He sponsored and supported landmark bills on infrastructure development, electoral reform, and constitutional amendment, including efforts to strengthen fiscal transparency and local governance.
Dogara also played a key role in shaping Nigeria’s economic recovery strategy during the 2016 recession, working closely with the executive to pass critical budgetary and reform measures.
Known for his integrity, technocratic depth, and humility, Dogara has continued to serve Nigeria in various consultative and strategic advisory roles.
His appointment signals a renewed emphasis on leveraging experienced and reform-minded leadership to reposition Nigeria’s key institutions for sustainable development.
Princess Gloria Adebajo-Fraser’s Endorsement
Princess Gloria, who has been at the forefront of national advocacy through her organisation—the National Patriots—and her strategic consulting firm, Fraser Consulting Consortium, lauded President Tinubu’s foresight in making such a merit-based appointment.
“Dogara represents the best of Nigeria’s political class—intelligent, measured, and mission-driven. With his leadership, the CGC is in capable hands to foster trust, efficiency, and results. We pray that God grants him the strength, wisdom, and foresight to lead this institution to success and to contribute significantly to the success of President Tinubu’s economic renewal agenda,” she remarked.
Conclusion
Dogara’s appointment as Chairman of the Credit Guarantee Company is not just a political decision—it is a strategic intervention at the heart of Nigeria’s economic revival plan. With the right policies, leadership, and stakeholder support, the CGC could unlock billions of naira in credit, empower millions of small businesses, and drive the grassroots industrialisation Nigeria urgently needs.
As President Tinubu builds a team to deliver real change, placing trusted hands like Dogara at critical economic posts sends a strong signal of reform, capacity, and results.
The entire editorial board of Headlinenews.news congratulate our platinum member Rt Hon Yakubu Dogara for his well deserved appointment.
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