The Nigeria Liquefied Natural Gas Limited (NLNG), in partnership with the Bank of Industry (BOI), has launched an expanded Micro, Small, and Medium Enterprises (MSME) Development Scheme to provide much-needed financial support and capacity building for businesses within its host communities and Gas Transmission System (GTS) areas.
The initiative, which was unveiled recently, aims to alleviate poverty, promote economic inclusion, and foster sustainability by offering digitally accessible loans at a competitive interest rate of just nine percent. The scheme targets community-based entrepreneurs and vendors engaged with NLNG’s operations.
Under this robust public-private partnership model, NLNG provides the seed capital which BOI matches, creating a substantial funding pool to serve small-scale enterprises. The entire process has been digitalised to ensure transparency and ease of access through an online loan portal.
Speaking at the scheme’s launch, Sophia Horsfall, General Manager, External Relations and Sustainable Development at NLNG, underscored the company’s long-term commitment to sustainability and grassroots empowerment.
“This is more than a micro-credit finance scheme—it’s about igniting new possibilities for entrepreneurs. It reflects our redefined vision in 2024: to be a globally competitive energy company that improves lives sustainably,” Horsfall said.
She emphasized the importance of financial independence for lasting prosperity and noted that the revamped scheme was borne out of a strategic reassessment to enhance the company’s socio-economic impact.
Representing the Bank of Industry at the event, Mr. Omar Shekarau, Executive Director of MSME, stated that the partnership is in alignment with BOI’s 2025–2027 Corporate Strategy, which focuses on six key pillars: Youth & Skills, Gender, Digital, MSMEs, Climate Finance, and Infrastructure.
BOI has also deployed a cutting-edge loan management platform—BOI Fund Partner Solution—to ensure efficient tracking and management of the funds.
“This collaboration reflects BOI’s reinforced commitment to transforming Nigeria’s industrial landscape through inclusive and sustainable financing,” Shekarau added.
NLNG and BOI’s collaboration is expected to stimulate entrepreneurship and job creation across Rivers State and surrounding areas, contributing significantly to local economic development.
As Nigeria’s foremost Development Finance Institution, BOI continues to support MSMEs by securing international funds and creating accessible financing solutions. This partnership with NLNG further consolidates its mission to transform local economies and promote long-term business sustainability.
