NLNG Partners with Bank of Industry to Launch Micro-Credit Scheme, Boost Local Economies
Nigeria LNG Limited (NLNG) has launched an expanded Micro, Small, and Medium Enterprises (MSME) Scheme designed to empower local vendors and businesses in its host communities and gas transmission areas through financial support and capacity building.
In a strategic partnership with the Bank of Industry (BoI), the initiative aims to alleviate poverty, stimulate economic activity, and promote long-term sustainability by offering accessible loans at competitive interest rates.
Speaking at the official launch of the scheme in Port Harcourt on Wednesday, Sophia Horsfall, NLNG’s General Manager, External Relations and Sustainable Development, stated that the program is structured to reduce financial risks, embed sustainability principles, and strengthen local economies.
“In response to rising bank interest rates, we introduced a buffer that allows beneficiaries to access loans at a significantly reduced interest rate of 9%,” she said.
“Today, we’re launching more than a micro-credit scheme, we’re unlocking new opportunities for grassroots entrepreneurs and small businesses,” Horsfall added.
“After years of supporting local enterprises, we took a strategic pause to reassess and amplify our impact. This led to our partnership with the Bank of Industry, a collaboration poised to drive real economic growth in Rivers State and beyond.”
She emphasized that the initiative represents NLNG’s renewed corporate vision: to be a globally competitive energy company committed to improving lives through sustainable development.
“This scheme is not just about financing, it’s about transformation, empowerment, and building a legacy of prosperity,” she said. “We move forward today with pride, knowing we are investing in a stronger and more sustainable future.”
Also speaking at the event, the Managing Director and CEO of the Bank of Industry, Dr. Olasupo Olusi, represented by the Executive Director, MSME, Mr. Omar Shekarau, highlighted BoI’s commitment to inclusive and sustainable development through its 2025–2027 corporate strategy.
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“Our strategic focus is anchored on six pillars: Youth & Skills, Gender, Digital, MSMEs, Climate Finance, and Infrastructure,” Shekarau explained. “Each represents our mission to foster equitable and inclusive growth.”
To ensure efficiency and transparency, Shekarau noted that BoI has deployed its advanced loan management platform, BOI Fund Partner Solution, allowing real-time access for fund partners to monitor fund performance.
As Nigeria’s foremost development finance institution, BoI continues to drive industrial transformation by providing financial and business support to enterprises across the country.
“Through this strategic alliance, NLNG reinforces its dedication to empowering local businesses, spurring economic development, and ensuring sustainable growth within its host communities,” he concluded.
