Nigeria LNG Limited and the Bank of Industry have unveiled an expanded financing scheme for micro, small, and medium enterprises in NLNG’s host communities and Gas Transmission System areas. The initiative aims to drive poverty reduction, economic growth, and sustainability through accessible loans at a competitive nine percent interest rate.
The partnership creates a substantial financing pool, with NLNG providing seed funding that BOI is matching. To ensure efficiency, the entire loan process has been digitalized through an online portal, eliminating delays and increasing transparency.
NLNG’s General Manager for External Relations and Sustainable Development noted that the new strategy is designed to be more impactful, enabling entrepreneurs to thrive in challenging economic conditions. The initiative aligns with BOI’s strategic focus from 2025 to 2027, covering key areas such as youth development, gender inclusion, digital access, MSME support, climate finance, and infrastructure.
Source: MSME Africa Online
