General Manager, External Relations and Sustainable Development NLNG, Dr. Sophia Horsfall.

NLNG has said that the best approach to achieving national progress, growth and development is by empowering the local communities with the right skills and opportunities. The Company insists that this principle remains at the core of its Corporate Social Responsibility CSR for its host communities.

Speaking recently in Port Harcourt, during the official relaunch of the expanded Micro, Small, and Medium Enterprises MSME Scheme in partnership with Bank of Industry BOI, General Manager, External Relations and Sustainable Development, Dr. Sophia Horsfall, noted that in line with this mindset, NLNG has over the years delivered transformational programmes to its host communities through its strategic focus on education, economic empowerment, infrastructure development, and healthcare improvement.

The MSME Scheme is designed to provide financial support and capacity-building for local vendors and businesses within its host communities and Gas Transmission System GTS areas. The journey of the Scheme began in 2023 when a Memorandum of Understanding was signed with BOI, providing a Matching Fund platform. NLNG also invested a seed fund of N500million while BOI matched funds thereby providing a total pool of N1billion.

These four pillars, according to her, shape NLNG’s CSR approach, through which it has fostered sustainable growth and prosperity among its various host communities.

“This event gives me the opportunity to reaffirm NLNG’s belief that true progress is achieved when communities are empowered with the right tools and opportunities to thrive economically. This has consistently inspired the transformational programmes which we deliver through our strategic focus on education, economic empowerment, infrastructure development, and healthcare improvement. These four pillars shape our Corporate Social Responsibility approach, enabling us to foster sustainable growth and prosperity in our host communities.

“For over two decades, NLNG has delivered significant value to its host communities through its numerous economic empowerment initiatives. To mention a few, we successfully implemented the Youth Empowerment Scheme YES, which have benefitted over 1,000 youths across our host communities. The N-Agenda scheme, the NLNG Micro-credit scheme, and many other initiatives have all spoken to our commitment to the economic advancement of our people. Through these investments, NLNG empowered small and medium businesses with entrepreneurial skills, starter packs, as well as capital to fund businesses. These were our initial efforts to significantly contribute to wealth creation and economic progress in our host communities.

“The MSME Scheme evolved from two of our formidable initiatives – the NLNG Microcredit Scheme and the NLNG Local Vendor Finance Scheme. These unique initiatives were set up to provide funding at lower interest rates to support small-scale enterprises in NLNG’s host communities”, Horsfall said.

She further argued that the MSME is not just a finance scheme, it is the igniting of new possibilities for grassroots entrepreneurs and small businesses.

It was gathered that after several years of funding and empowering local enterprises, NLNG took a strategic review and reassessment of the scheme to enhance its impact, which culminated in the powerful partnership with the BOI, a Matching Fund collaboration that is set to drive real economic growth in Rivers State and beyond.

She said: “This is more than an opportunity, this initiative is a statement of our unwavering commitment to sustainability—because true prosperity begins with financial independence and thriving businesses.

“This scheme is established as a buffer that allows beneficiaries to access loans at a reduced interest rate of 9%, especially given the rising bank interest rates which is inaccessible by small enterprises. It is also structured to mitigate financial risks, embed sustainability, and strengthen local economies.

“In 2024, NLNG successfully completed a rebranding project with a renewed vision: to be a globally competitive energy company that improves lives sustainably. This scheme embodies that vision in action, because, it is not just about financing, it is about transformation, empowerment, and long-term impact. 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.

“Ahead of this scheme, and as part of our bold efforts to reinforce sustainable advancement of our communities, NLNG in 2019 inspired the General Memorandum of Understanding (GMoU) model of corporate social investment which empowers our stakeholders with ownership and management rights over NLNG funded community-driven projects.

“This GMOU agreements which we signed with our host communities and partner institutions, established a framework for promoting sustainability, accountability and long-term socio-economic benefits from NLNG funded development initiatives. I am delighted to state here that numerous development projects have been commissioned on the back of the GMOUs.”

The relaunched micro-credit scheme, it was further learnt, is part of the sustainability plan approved by the Board of Directors of NLNG to deepen economic buoyancy and boost the Company’s commitment to strengthening local businesses.

Designed as a revolving fund with an initial investment of N500 million to ensure continuous access to credit for entrepreneurs and cooperatives in its host communities, some of the main objectives of the fund include to provide accessible and affordable financial support for small and medium-sized businesses, empower individuals and cooperatives to expand their businesses sustainably and ultimately drive economic inclusion and reduce financial barriers for entrepreneurs.

“Recognising the value of strategic collaboration, the previous Micro Credit Scheme was run with a seed fund of N500m in partnership with First Bank and a developmental agency, DEVIN. Through the scheme, NLNG supported about 300 cooperatives to engender capital infusion into SMEs whilst inspiring community-based enterprises. Although the scheme was put on hold in 2012, it achieved an impressive 91per cent loan recovery rate and a widespread coverage of the initiative across the 110 host communities with direct impact in households.

“And now, a Memorandum of Understanding was signed with BOI in 2023 providing a Matching Fund platform. Company invested a seed fund of N500m while BOI matched funds thereby providing a pool – a total of N1billion.

“The partnership also deployed a streamlined online loan application platform, to reduce overhead costs and ensure that the funds reach those who need them most, in a timely and efficient manner. This will ensure that the scheme remains transparent, accessible, and impactful.

“The Bank of Industry BOI has also committed to oversee the fund management, facilitate faster processing, broader outreach, and better financial governance. Our expectation is that the MSME will empower local vendors and entrepreneurs to deliver and expand businesses and deepen positive community engagement which will in turn reduce social tensions and promote a stable and convivial society where everyone thrives.

“Over time, this initiative will trigger economic transformation, boost commercial activities and foster community advancement. The scheme will not only be supporting Local Vendors and individual businesses, but also be nurturing an ecosystem where our host communities benefit from both NLNG’s operations and broader national economic potential.

“Beyond provision of funds, the MSME is designed to integrate capacity-building and mentorship programmes for local vendors to enhance the beneficiaries’ business skills. This will equip entrepreneurs with financial literacy, business management expertise, and market access strategies, enabling them to build sustainable enterprises”, the General Manager also said.