The Nigeria LNG Limited (NLNG), in collaboration with the Bank of Industry (BOI), has unveiled an expanded Micro, Small, and Medium Enterprises (MSME) Scheme aimed at empowering entrepreneurs within its host communities and Gas Transmission System (GTS) areas. This initiative is part of NLNG’s broader commitment to poverty reduction, economic growth, and long-term sustainability.
Through this partnership, NLNG is providing a seed fund which BOI is matching to create a substantial financing pool. The scheme is structured to offer accessible loans at a competitive nine percent interest rate, significantly lower than current commercial rates. It targets local entrepreneurs, especially those offering services or products to NLNG, with a focus on building financial independence and boosting enterprise development.
To ensure efficiency and broad access, the entire loan process has been digitalised. Applications and disbursements will be processed through an online portal, eliminating delays and increasing transparency.
At the scheme’s launch event, NLNG’s General Manager for External Relations and Sustainable Development emphasized the company’s renewed approach after years of investing in community businesses. The new strategy, she noted, is more impactful, enabling entrepreneurs to thrive in a challenging economic environment.
Describing the initiative as more than just a credit scheme, she stated that it embodies NLNG’s rebranded vision of being a globally competitive energy company with a strong social mission. She said the scheme is about transformation, empowerment, and creating long-term impact in Rivers State and beyond.
The Managing Director of BOI, represented by the Executive Director for MSMEs, highlighted that the collaboration aligns with the bank’s strategic focus from 2025 to 2027, covering key areas such as youth and skills, gender inclusion, digital access, MSME support, climate finance, and infrastructure. According to him, the scheme is backed by BOI’s advanced loan management system, which allows real-time monitoring of funds to ensure transparency and accountability.
As Nigeria’s premier Development Finance Institution, BOI continues to raise funds globally to support local enterprise and industrial growth. This partnership with NLNG marks another step in its mission to make affordable, long-term funding available to small businesses across the country.
Through this joint initiative, both organisations aim to drive inclusive economic development by equipping local entrepreneurs with the financial tools and capacity support needed to scale and sustain their ventures.
