The Nigeria LNG Limited (NLNG) has taken a bold step to empower small businesses and drive grassroots economic development with the launch of an expanded Micro, Small, and Medium Enterprises (MSME) Scheme. The initiative, rolled out in collaboration with the Bank of Industry (BOI), is aimed at boosting financial access for local vendors and entrepreneurs in NLNG’s host communities and gas transmission corridors.
The official launch took place in Port Harcourt on Wednesday, drawing attention from stakeholders in both the public and private sectors. The NLNG General Manager, External Relations and Sustainable Development, Mrs. Sophia Horsfall, explained that the scheme is more than just a financial support programme. According to her, it is a strategic tool designed to reduce poverty, foster sustainability, and energise small-scale businesses across Rivers State and beyond.
Horsfall said, “Today, we launch more than just a micro-credit finance scheme—we ignite new possibilities for grassroots entrepreneurs and small businesses.” She explained that NLNG had taken time to reassess its previous interventions, refine its approach, and come up with a stronger, impact-driven strategy through this renewed partnership with BOI.
With the current bank lending rates on the rise, the scheme introduces a soft landing for business owners by offering loans at a reduced interest rate of 9%. This move is expected to ease financial pressure on beneficiaries, making capital more accessible and manageable for start-ups and growing businesses.
Horsfall added, “This initiative is a statement of our unwavering commitment to sustainability—because true prosperity begins with financial independence and thriving businesses.” She further noted that the programme ties into NLNG’s broader vision to be a globally competitive energy company that improves lives sustainably.
Also speaking at the launch, the Managing Director of the Bank of Industry, Dr. Olasupo Olusi, represented by the Executive Director for MSMEs, Mr. Omar Shekarau, highlighted BOI’s commitment to inclusive growth and economic transformation through targeted interventions.
Shekarau said the partnership with NLNG is aligned with the bank’s 2025–2027 corporate strategy, which focuses on six key areas: Youth & Skills, Gender, Digital Transformation, MSMEs, Climate Finance, and Infrastructure. According to him, these pillars reflect the bank’s dedication to equitable and sustainable development across the country.
To ensure transparency and efficiency in loan disbursement and management, Shekarau disclosed that BOI has deployed a modern digital platform called the “BOI Fund Partner Solution.” This platform gives fund partners like NLNG real-time access to loan performance data, helping to track progress and monitor impact closely.
He emphasized that BOI, as Nigeria’s leading development finance institution, continues to raise capital both locally and internationally to support businesses and drive industrial growth. The bank has received accolades for its role in transforming Nigeria’s economic landscape by making long-term funding available for MSMEs.
This renewed effort by NLNG and BOI is expected to create ripple effects in job creation, local business development, and sustainable economic growth within the energy company’s areas of operation.
For small business owners in Rivers State and other affected communities, this scheme provides a lifeline. It presents a real chance to grow their businesses without the burden of exorbitant interest rates or complex loan processes. It also brings hope to young entrepreneurs, women-led ventures, and artisans who have long struggled with access to funding.
As both NLNG and BOI continue to work hand-in-hand, stakeholders are hopeful that the MSME scheme will be a game changer—not just for businesses but for families and communities that rely on them.
