Mkpoikana Udoma
Port Harcourt — The Nigeria LNG Limited, in a move to stimulate grassroots economic growth, has launched its Micro, Small and Medium Enterprises, MSME finance scheme with a powerful partnership model that slashes loan interest rates to 9%—a lifeline for entrepreneurs navigating the current high-cost financial landscape.
The scheme, which is in collaboration with the Bank of Industry, BOI, is aimed at providing affordable credit and capacity-building to small businesses and vendors across NLNG’s host communities and Gas Transmission System areas.
Speaking at the scheme’s relaunch in Port Harcourt, NLNG’s General Manager, External Relations and Sustainable Development, Dr. Sophia Horsfall, described the initiative as a “transformative economic intervention” tailored to reduce poverty and drive sustainable development.
“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 partnership with the Bank of Industry is a bold new step to drive real economic growth in Rivers State and beyond.”
Horsfall noted that rising commercial loan interest rates had necessitated NLNG’s intervention with a subsidized model.
“We have introduced a buffer that allows beneficiaries to access loans at a reduced interest rate of 9%. 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.”
Under the model, NLNG provides a seed fund matched by BOI, creating a robust pool to support micro-enterprises and local contractors. The scheme is fully digitalised, with an online portal developed to streamline loan applications and disbursements, ensuring transparency and efficiency.
Representing the Managing Director of BOI, Dr. Olasupo Olusi, the Executive Director for MSMEs, Mr. Omar Shekarau, said the partnership aligns with the bank’s 2025–2027 corporate strategy, which targets inclusive and sustainable development across six key pillars: youth and skills, gender, digital, MSMEs, climate finance, and infrastructure.
“This partnership also reflects BOI’s reinforced focus. To ensure efficiency and transparency, BOI has deployed a cutting-edge end-to-end loan management platform, the BOI Fund Partner Solution, which allows fund partners real-time access to the performance of their fund.”
He added that BOI remains committed to making long-term, affordable financing available to Nigerian MSMEs while transforming the industrial landscape through strategic partnerships.
“Through this strategic collaboration with BOI, NLNG reinforces its commitment to fostering economic development, empowering local businesses, and sustaining long-term growth within its host communities,” he added.
The reintroduction of the scheme is being hailed as a major boost for small business owners grappling with limited access to credit facilities amidst Nigeria’s tough economic climate.
NLNG’s rebranded strategy for 2024 and beyond focuses on delivering sustainable impact while remaining globally competitive. According to Horsfall, this scheme embodies that mission.
“In 2024, we rebranded with a renewed vision: to be a globally competitive energy company that improves lives sustainably. This scheme is that vision in action,” she said.
With the return of this initiative, local entrepreneurs and vendors working for NLNG now have a clear path to financial support—one that prioritizes not just profit, but progress.
