In a strategic push to deepen economic roots in Rivers State, the Nigeria Liquefied Natural Gas (NLNG) company, in collaboration with the Bank of Industry (BoI), has rolled out a N1 billion micro-credit scheme aimed at energizing local entrepreneurship.
The initiative, targeted at Micro, Small, and Medium Enterprises (MSMEs) within NLNG’s host communities and Gas Transmission System (GTS) areas, is more than just another loan facility—it’s a bold commitment to grassroots transformation.
Designed to address persistent financial barriers faced by local vendors and community businesses, the scheme offers accessible loans at a highly competitive interest rate of nine percent—well below prevailing bank rates—thanks to NLNG’s strategic buffer. This funding will be made available through a joint pool created by NLNG’s seed capital, matched equally by BoI, forming a robust pipeline of support for small businesses.
Speaking at the launch in Port Harcourt on Wednesday, Sophia Horsfall, NLNG’s General Manager of External Relations and Sustainable Development, captured the deeper vision behind the scheme.
“Today, we launch more than just a micro-credit finance scheme—we ignite new possibilities for grassroots entrepreneurs and small businesses,” she declared. “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.”
The initiative is fully digitalised, streamlining the loan application and disbursement process. Entrepreneurs can now access the fund via an online portal, reducing bureaucratic bottlenecks and improving transparency.
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Horsfall described the scheme as a reflection of NLNG’s 2024 rebranding, which positions the company as a globally competitive energy firm committed to having a sustainable impact.
“It is not just about financing—it’s about transformation, empowerment, and long-term impact,” she added. “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.”
Echoing this sentiment, the Managing Director of BoI, Dr. Olasupo Olusi, noted that the partnership aligns with BoI’s broader strategic goals. Represented by Mr. Omar Shekarau, Executive Director for MSMEs, Olusi said the scheme fits into the bank’s 2025–2027 Corporate Strategy, which revolves around six key areas: Youth & Skills, Gender, Digital, MSMEs, Climate Finance, and Infrastructure.
“To ensure efficiency and transparency, BOI has deployed a cutting-edge end-to-end loan management platform, the BOI Fund Partner Solution,” Shekarau said. “This will give our partners real-time access to the performance of their fund.”
Olusi emphasized that BoI, Nigeria’s premier development finance institution, continues to leverage both domestic and international markets to secure long-term, affordable funding for MSMEs, reinforcing its mission to transform the country’s industrial sector.
With this new micro-credit scheme, both NLNG and BoI are not just injecting funds—they are empowering dreams, strengthening community resilience, and setting the stage for inclusive, sustainable economic growth.
