Port Harcourt, April 10, 2025 – The Nigeria Liquefied Natural Gas Limited (NLNG) has launched a financial support scheme for micro, small, and medium enterprises in the country in partnership with the Bank of Industry (BOI)
The scheme is to provide financial support and build the capacity of local vendors and businesses within its host communities and gas transmission system areas.
Sophia Horsfall, the NLNG General Manager (External Relations and Sustainable Development), said the scheme was structured to mitigate financial risks and strengthen the beneficiaries.
Horsfall, who spoke during the official launch of the scheme in Port Harcourt on Wednesday, said with rising bank interest rates, NLNG introduced a buffer that allows beneficiaries to access loans at a reduced interest rate of nine per cent.
“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.
“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.”
Dr Olasupo Olusi, the Managing Director of BOI, said the partnership reflected the bank’s reinforced focus on its 2025–2027 corporate strategy centred around six thematic areas.
Olusi, who was represented by Omar Shekarau, the Executive Director (MSME) in the bank, listed some of the areas as Youth and Skills, Gender, Digital, MSMEs, Climate Finance and Infrastructure.
“Each pillar represents our commitment to inclusive, equitable and sustainable development.
“To ensure efficiency and transparency, BOI has deployed a cutting-edge end-to-end loan management platform called the BOI Fund Partner Solution, which will provide our fund partners with real-time access to the performance of their fund.
”BOI is Nigeria’s foremost development finance institution with the mission to transform Nigeria’s industrial sector by providing financial and business support services to enterprises.
“To make affordable, long-term funding available to MSMEs in Nigeria, the bank has continued to raise funds from the international market over the years and has received both domestic and international recognitions for its commitment to excellence,” Shekarau said.
