Nigeria LNG Limited (NLNG), in partnership with the Bank of Industry (BOI), has launched an expanded micro, small, and medium enterprises (MSME) scheme aimed at providing financial support and capacity-building for local vendors and businesses within its host communities and gas transmission system (GTS) areas.
A statement from NLNG made available to QED.ng said the initiative seeks to alleviate poverty, stimulate economic growth, and enhance sustainability by offering accessible loans at competitive interest rates.
Through a partnership model, NLNG contributes a seed fund, which is matched by BOI, creating a funding pool to empower small-scale enterprises. Community entrepreneurs and vendors working for NLNG are the primary beneficiaries.
To streamline the application and disbursement process, the scheme is fully digitalised, enabling beneficiaries to apply for loans through an online portal for efficient access to funding.
Speaking at the launch, Sophia Horsfall, general manager of external relations and sustainable development at NLNG, emphasised that the scheme is designed to mitigate financial risks, embed sustainability, and strengthen local economies. She noted the organization’s effort to offer loans at a reduced interest rate of 9%, providing a buffer against rising bank rates.
“Today, we launch more than just a micro-credit finance scheme—we ignite new possibilities for grassroots entrepreneurs and small businesses. After years of funding and empowering local enterprises, we took a strategic pause to reassess and enhance our impact. This led to a powerful partnership with the Bank of Industry, a collaboration that will drive real economic growth in Rivers State and beyond. More than an opportunity, this initiative is a statement of our unwavering commitment to sustainability—because true prosperity begins with financial independence and thriving businesses.
“In 2024, we rebranded with a renewed vision: to be a globally competitive energy company that improves lives sustainably. This scheme embodies that vision in action. It is not just about financing—it’s about transformation, empowerment, and long-term impact. As we take this bold step forward, we do so with pride, knowing that today, we are shaping a stronger, more sustainable future for all,” Horsfall said.
Dr. Olasupo Olusi, managing director/CEO of the Bank of Industry, represented by the executive director of MSMEs, Omar Shekarau, echoed Horsfall’s sentiments. He emphasized BOI’s commitment to inclusive and sustainable development through its 2025-2027 corporate strategy, which focuses on six thematic areas: youth & skills, gender, digital, MSMEs, climate finance and infrastructure.
He further stated that “to ensure efficiency and transparency, BOI has deployed a cutting-edge end-to-end loan management platform called the BOI Fund Partner Solution which will provide our fund partners with real-time access to the performance of their fund.”
BOI is Nigeria’s foremost development finance institution with the mission to transform the country’s industrial sector by providing financial and business support services to enterprises.
Through this strategic collaboration with BOI, NLNG reinforces its commitment to fostering economic development, empowering local businesses, and sustaining long-term growth within its host communities.
