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, the company 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, which is significantly lower than prevailing commercial rates. It targets local entrepreneurs, especially those providing services or products to the company, with a focus on building financial independence and supporting business development.
To ensure efficiency and broad access, the entire loan process has been digitalised. Applications and disbursements will be processed through an online portal, removing delays and enhancing transparency.
At the launch event, the General Manager for External Relations and Sustainable Development at NLNG stressed the company’s renewed strategy after several years of investing in community businesses. The new approach, she said, is more impactful and designed to help entrepreneurs grow despite economic challenges.
Describing the initiative as more than a credit scheme, she said it reflects NLNG’s renewed vision of being a globally competitive energy company with a strong social commitment. She explained that the scheme is about transformation, empowerment and making a lasting impact in Rivers State and beyond.
The Managing Director of BOI, represented by the Executive Director for MSMEs, said the collaboration aligns with the bank’s strategic goals from 2025 to 2027. These include youth empowerment, gender inclusion, digital access, MSME growth, climate finance and infrastructure development. He noted that the scheme is supported by BOI’s advanced loan management system, which tracks fund usage in real time to ensure transparency.
As Nigeria’s leading Development Finance Institution, BOI continues to raise capital globally to support local business and industrial development. The joint effort with NLNG marks another step in its mission to make affordable, long-term funding available to small businesses nationwide.
This joint initiative aims to drive inclusive economic growth by equipping local entrepreneurs with the financing and support tools needed to expand and sustain their enterprises.