Nigeria LNG Limited has launched an expanded Micro, Small, and Medium Enterprises Scheme aimed at boosting local businesses within its host communities and gas transmission areas.
The scheme focuses on providing financial support and building the capacity of local vendors.
NLNG said the partnership with the Bank of Industry aims to provide accessible loans at competitive interest rates, promoting poverty alleviation, economic growth, and sustainability.
Speaking during the official launch of the scheme in Port Harcourt on Wednesday, the NLNG General Manager, External Relations and Sustainable Development, Sophia Horsfall, emphasised that the scheme is structured to mitigate financial risks, embed sustainability, and strengthen local economies.
Horsfall explained that, in response to rising bank interest rates, NLNG has introduced a buffer that enables beneficiaries to access loans at a reduced interest rate of 9%.
She stated, “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.”
Horsfall continued, “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.”
Meanwhile, the Managing Director/CEO of the Bank of Industry, Dr Olasupo Olusi, said, “This partnership also reflects BOI’s reinforced focus as we implement our 2025–2027 corporate strategy centred around six thematic areas.
Represented by the Executive Director, MSME of BoI, Mr. Omar Shekarau listed some of the areas as Youth & Skills, Gender, Digital, MSMEs, Climate Finance and Infrastructure, saying, “Each pillar represents our commitment to inclusive, equitable and sustainable development.”