Nigeria LNG Limited (NLNG) has partnered with the Bank of Industry (BOI) to unveil an expanded Micro, Small, and Medium Enterprises (MSME) Scheme, specifically designed to empower entrepreneurs within NLNG's host communities and areas along its Gas Transmission System (GTS). This collaborative initiative underscores NLNG’s deepened commitment to fostering poverty reduction, stimulating economic growth, and promoting long-term sustainability within its operational footprint.

Leveraging a strategic partnership, NLNG is providing a dedicated seed fund, which BOI is matching, creating a substantial pool of capital for local businesses. The scheme is structured to offer easily accessible loans at a significantly competitive interest rate of nine percent, a stark contrast to prevailing higher commercial lending rates. The primary beneficiaries of this scheme are local entrepreneurs, particularly those who provide goods or services to NLNG, with a strong emphasis on building their financial independence and fostering robust enterprise development within the region.

Recognizing the importance of efficiency and widespread accessibility, the entire loan application and disbursement process has been digitized. Entrepreneurs can navigate the process seamlessly through an online portal, eliminating traditional bureaucratic delays and enhancing transparency at every stage.

At the official launch event, NLNG’s General Manager for External Relations and Sustainable Development articulated the company’s evolved approach to community investment. She emphasized that after years of supporting local businesses, this revamped strategy is designed to be more impactful, providing entrepreneurs with the crucial resources needed to not only survive but thrive in the current challenging economic landscape.

Describing the initiative as transcending a conventional credit scheme, she highlighted that it embodies NLNG’s rebranded vision of operating as a globally competitive energy company deeply rooted in a strong social mission. She underscored that the scheme is about fostering genuine transformation, empowering local communities, and creating lasting positive impact across Rivers State and beyond.

Representing the Managing Director of BOI, the Executive Director for MSMEs emphasized the strategic alignment of this collaboration with the bank’s core objectives for the period spanning 2025 to 2027. These strategic pillars include a strong focus on youth empowerment and skills development, gender inclusion, enhancing digital access for businesses, robust support for MSMEs, promoting climate finance initiatives, and investing in critical infrastructure. He further highlighted that the scheme is underpinned by BOI’s advanced loan management system, which enables real-time monitoring of funds, ensuring both transparency and accountability in the disbursement and repayment processes.

As Nigeria’s leading Development Finance Institution, BOI continues its efforts to attract global funding to bolster local enterprise and drive industrial growth across the nation. This strategic partnership with NLNG represents another significant step in its overarching mission to make affordable, long-term financing readily available to small and medium-sized businesses throughout Nigeria.

Through this synergistic joint initiative, both NLNG and BOI aim to be catalysts for inclusive economic development by equipping local entrepreneurs with the essential financial tools and crucial capacity-building support required to effectively scale their ventures and ensure their long-term sustainability, ultimately contributing to the economic prosperity of the region.