BOI Targets N1.35trn Lending, 3m Jobs By 2027

  …Records N625bn Disbursement

The Bank of Industry has set a target to scale annual lending to N1.35 trillion by 2027 and support three million jobs over its 2025-2027 strategy period, after disbursing a record N625 billion in the past year.

The managing director and chief executive officer of BOI, Olasupo Olusi, disclosed this at press briefing held on Thursday in Lagos.

Olusi said the N625 billion disbursed represents the highest ever annual disbursement by the Bank and a 26 per cent increase over N410 billion disbursed in 2024. The financing reached 12,501 businesses and helped create or support 1.6 million jobs.

He said the performance shows the strategy is working at its midpoint, saying that “we are now at the midpoint of our 2025–2027 corporate strategy, and this is a very good moment to take stock.”

According to Olusi, BOI’s four strategic objectives are to ensure every naira lent translates to measurable development impact, raise long-term capital at scale, widen reach to underserved segments including MSMEs, women, youth and rural enterprises, and strengthen governance and balance sheet.

He said, the strategy is to double the Bank’s loan book, disbursements and impact within three years, built on six thematic areas.

Under the thematic targets, Olusi said, “MSMEs received over 31 per cent of 2025 funding against a 35 per cent target, while youth and women each received 20 per cent against minimum commitments of 10 per cent and 15 per cent respectively.

“The Bank also disbursed N120 billion to women-owned businesses and over N180 billion to infrastructure, including power and broadband connectivity to over 700 communities.”

Olusi said the Bank achieved its disbursement targets in climate and digital finance and launched the BOI portal, which has recorded over 23,000 registrations for application and tracking.

On capital raising, he said Nigeria’s industrialisation requires long-term affordable capital that commercial banks cannot provide at suitable cost.

“To fill the gap, the Bank raised €2 billion through a 2024 syndicated loan from over 30 international banks, €110 million from development banks in 2025, and N215 billion through a five-year bond in 2026 that was fully subscribed within five working days, in addition to a €75 million facility from Afreximbank for the pharmaceutical value chain,” he stated.

Going forward, Olusi said 2026-2027 will focus on scaling to meet 2027 targets and closing climate and digital gaps.

To close the climate gap, he added that “BOI will deploy a Sustainable Finance Framework to issue green bonds, establish a Carbon Credit Grant Facility and introduce climate screening in every appraisal, backed by a dedicated action plan for climate opportunity sourcing.”

For digital, Olusi said the Bank will channel $617.7 million through the Investment in Digital and Creative Enterprises, iDICE, programme supported by AfDB, IsDB and AFD, with broadband and ICT as priority sectors, supported by an action plan for digital market access and innovation.

He added that under its ‘Make it here’ agenda, the Bank will deploy European Investment Bank credit lines for agriculture and local healthcare manufacturing.