The Bank of Industry (BOI) has outlined plans to increase its annual loan disbursements to ₦1.35 trillion by 2027 while seeking funding arrangements that could allow manufacturers and other businesses to access credit with repayment periods of up to 10 years.
Managing Director Olasupo Olusi disclosed the targets during a meeting with media partners, describing the bank’s 2025–2027 strategy as a phased programme to expand financing, strengthen governance and reach underserved businesses.
According to Olusi, BOI disbursed ₦645 billion in 2025, a 26 per cent increase over the ₦510 billion recorded in 2024 and its highest annual disbursement to date. He said the bank’s interventions reached 12,500 additional businesses and helped create or sustain approximately 1.6 million jobs. More than ₦120 billion went to women-owned enterprises, while micro, small and medium-sized enterprises received over 41 per cent of funding, above the bank’s 35 per cent target.
The bank also reported ₦108 billion in infrastructure financing, including support for mini-grids and broadband connections in more than 700 communities. Under its Rural Area Programme on Investment for Development, BOI said it disbursed over ₦6.5 billion to nearly 1,000 rural enterprises, supporting more than 8,000 jobs.
Olusi said international fundraising initiatives had secured more than €2.2 billion and ₦274 billion in new funding commitments, including financing intended to strengthen pharmaceutical production. The bank is also pursuing discussions with development finance institutions and exploring non-interest financing products.
BOI intends to direct substantial portions of future lending towards MSMEs, women-led businesses, young entrepreneurs, infrastructure, digital enterprises and climate-related projects. Olusi said access to longer-tenor financing was particularly important for industrial projects that could not generate sufficient returns within conventional short loan periods.
The figures and targets were presented by BOI and have not been independently audited for this report.
