In a bold step to empower small businesses and promote sustainable economic growth, Nigeria LNG Limited (NLNG), in partnership with the Bank of Industry (BOI), has launched a N1 billion MSME scheme. The initiative is targeted at local entrepreneurs within NLNG’s host communities and pipeline network areas, offering them access to affordable financing.
The scheme was officially unveiled at an event held in Port Harcourt and represents a fresh commitment to grassroots economic development. According to NLNG’s General Manager of External Relations and Sustainable Development, Mr. Andy Odeh, the fund is designed to address longstanding barriers to credit access for micro, small, and medium enterprises.
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“This initiative is not just about giving out loans,” Odeh said. “It’s about building a stronger economic foundation for communities that have long supported our operations.”
Through BOI, eligible businesses can access loans at a competitive interest rate of just 9%, a significant relief compared to the usual commercial rates. The loan scheme also includes a business support component, ensuring that recipients receive guidance and capacity-building resources to grow and manage their enterprises effectively.
Managing Director of BOI, Dr. Olasupo Olusi, emphasized the bank’s role in ensuring the fund reaches credible businesses that can create impact. “We’re excited to collaborate with NLNG on this project. It aligns with our mission to facilitate impactful development through financing and business support.”
The partnership places strong emphasis on sustainability, inclusivity, and economic diversification—key themes in Nigeria’s wider strategy for development. For small business owners operating in regions often overlooked in national economic plans, this initiative offers a practical lifeline.
Entrepreneurs from Bonny Island to other areas within the NLNG pipeline corridor now have a chance to scale their businesses, create jobs, and contribute meaningfully to their local economies.
For the Nigerian MSME ecosystem, this collaboration signals hope that with the right support, local businesses can thrive and drive long-term development.
