NLNG and BOI Introduce Empowerment Loan Scheme for MSMEs in Host Communities
By Olusola Blessing | April 21, 2025
In a strategic move to bolster local enterprise and stimulate economic development, Nigeria LNG Limited (NLNG), in partnership with the Bank of Industry (BOI), has launched an enhanced loan scheme tailored for Micro, Small, and Medium Enterprises (MSMEs). This initiative is designed to provide much-needed financial support to entrepreneurs within NLNG’s host communities and Gas Transmission System (GTS) areas.
The scheme represents a significant step in NLNG’s mission to drive inclusive growth and reduce poverty by empowering local businesses. Through the partnership, NLNG has committed a seed fund that is being matched by BOI, creating a robust financing pool dedicated to supporting small business owners.
One of the standout features of the scheme is its accessibility. Entrepreneurs can access loans at a competitive interest rate of nine percent—markedly lower than prevailing commercial rates. The loans are primarily targeted at business owners who supply goods or services to NLNG or operate within its operational areas. This focus ensures that beneficiaries are both relevant to the company’s value chain and positioned for sustainable growth.
To streamline the process and ensure transparency, the loan application and disbursement procedures have been fully digitized. This digital platform minimizes bureaucratic delays, enhances monitoring, and offers entrepreneurs a user-friendly experience.
Speaking at the launch event, NLNG’s General Manager for External Relations and Sustainable Development highlighted the company’s renewed focus on strategic impact. She explained that after years of community investments, NLNG is now adopting a more sustainable and transformative approach—one that not only provides capital but fosters resilience and long-term business success.
She described the initiative as more than a financial support program, stating that it reflects NLNG’s broader vision of contributing to national development while maintaining global competitiveness in the energy sector. “This scheme is about economic empowerment, community transformation, and laying the foundation for generational progress,” she emphasized.
The Bank of Industry also reaffirmed its commitment to fostering small business development across Nigeria. Represented by the Executive Director for MSMEs, BOI noted that the loan program aligns with its 2025–2027 strategic objectives, which include gender inclusion, youth empowerment, digital transformation, and climate-conscious enterprise development. BOI’s advanced loan monitoring system will ensure real-time tracking of disbursements and repayments, guaranteeing accountability at every stage.
As Nigeria’s foremost development finance institution, BOI continues to collaborate with stakeholders to expand access to affordable, long-term financing. This partnership with NLNG is another step toward building a more inclusive and resilient economy driven by empowered entrepreneurs.
Together, NLNG and BOI aim to provide more than just loans—they are equipping local MSMEs with the tools and resources necessary to thrive, scale, and contribute meaningfully to Nigeria’s economic landscape.
