In a strategic move to boost economic development and empower grassroots entrepreneurs, the Nigeria LNG Limited (NLNG) has officially launched an enhanced Micro, Small, and Medium Enterprises (MSME) scheme in collaboration with the Bank of Industry (BoI). The initiative, unveiled during a formal event held in Port Harcourt, is designed to improve access to finance, reduce poverty levels, and strengthen the economic resilience of businesses within NLNG’s host communities and pipeline impact areas.
The revamped credit scheme offers soft loans at a significantly reduced interest rate of nine percent, a deliberate response to the increasingly high lending rates imposed by traditional banks. The NLNG explained that the decision to partner with BoI was part of a broader strategy to amplify the impact of its long-standing support for local businesses by combining financial assistance with capacity development and sustainability-focused practices.
Addressing participants at the launch, NLNG’s General Manager for External Relations and Sustainable Development, Sophia Horsfall, described the scheme as more than just a credit facility, but a beacon of hope for small business owners navigating economic uncertainties. She noted that the initiative marks a new chapter in NLNG’s developmental agenda, one that prioritizes long-term impact and inclusive prosperity.
“Today, we are not just rolling out a micro-credit scheme—we are unlocking a future of possibilities for thousands of local entrepreneurs. This scheme is a symbol of our renewed commitment to sustainability and community development. It is the product of reflection, refinement, and an unyielding desire to do more,” Horsfall stated.
She further highlighted that the rebranded vision of the company in 2024—to be a globally competitive energy company that improves lives sustainably—is now being translated into direct action through this scheme. According to her, economic empowerment, especially at the grassroots level, is a critical pathway to achieving national development and sustainable livelihoods.
Representing the Bank of Industry at the event, the Executive Director for MSMEs, Mr. Omar Shekarau, who stood in for the BoI Managing Director, Dr. Olasupo Olusi, affirmed the bank’s readiness to drive inclusive growth through strategic partnerships like the one with NLNG. He said the initiative aligns with BoI’s 2025–2027 corporate roadmap, which is anchored on six pillars: Youth and Skills, Gender Inclusion, Digital Economy, MSME Growth, Climate Finance, and Infrastructure Development.
Shekarau explained that to ensure transparency and effective management, BoI has integrated a state-of-the-art digital platform known as the BOI Fund Partner Solution. This system will allow fund contributors like NLNG to monitor loan disbursement and repayment performance in real-time, fostering accountability and trust in the process.
He stressed that BoI, as Nigeria’s foremost development finance institution, remains committed to facilitating industrial transformation by offering long-term financing and technical support to MSMEs. He also noted that the bank’s success in raising funds from international markets and receiving global recognition for operational excellence further underscores its capability to manage large-scale financial interventions.
The collaboration between NLNG and BoI signals a significant shift towards sustainable local enterprise development, with a clear focus on impact, inclusion, and economic transformation. With this renewed effort, thousands of small business owners and aspiring entrepreneurs across Rivers State and adjoining areas now have a chance to access affordable funding and training that could redefine their business journey and contribute meaningfully to the country’s economic progress.