The Bank of Industry, BOI, says it is targeting N1.85 trillion in annual lending and financing for 24,000 Micro, Small and Medium Enterprises, MSMEs, under its corporate strategy.
The Managing Director of BOI, Olasupo Olusi, disclosed this on Thursday during an engagement with media executives in Lagos.
He added that the bank also targeted three million jobs between 2025 and 2027.
Mr Olusi said the strategy prioritised manufacturing, agriculture, local healthcare, climate-friendly businesses and technology-driven enterprises to strengthen domestic production, expand access to long-term capital and create sustainable employment.
He said the bank was also working to close financing gaps in climate-related investments and the digital economy.
According to him, the strategy’s 2X ambition is to double the bank’s loan book, disbursements and impact instruments within three years.
He said the strategy was built around six thematic areas, each with specific targets to guide implementation and measure progress.
“We will deploy many of the resources that we need for growth in our country, in areas such as agriculture, local healthcare and manufacturing.
“This is so that Nigeria is able to provide more of the stuff of the food that it consumes and of medicines, all the relevant key materials,” he said.
Mr Olusi said BOI’s 2025-2027 corporate strategy was structured into three phases, with 2025 serving as the foundation year for establishing governance frameworks, products, digital tools and budgetary provisions.
He described 2026 as the year of execution and scale, while 2027 would focus on consolidating results and meeting set targets.
The managing director said the bank disbursed a record N625 billion in 2025, supporting the creation and sustenance of 1.6 million jobs and reaching 12,501 businesses.
He said the amount represented a 26 per cent increase over the N410 billion recorded in 2024.
According to him, MSMEs received more than 31 per cent of the bank’s 2025 funding, while about N120 billion was disbursed to women-owned businesses.
He said BOI would continue to expand financing for underserved enterprises, particularly women-owned and youth-led businesses, while strengthening its capacity to mobilise funds from domestic and international markets.
Mr Olusi said the bank would also deepen its support for local production in line with the Federal Government’s Nigeria First policy.
“Our mission is very simple. We have to finance what Nigeria makes,” he said.
On climate and sustainability financing, Olusi said BOI planned to allocate at least 10 per cent of its entire portfolio to the sector, including clean energy, climate-resilient businesses and circular-economy initiatives.
He stressed the need to integrate climate-smart solutions into financing decisions to ensure that investments remained sustainable and responsive to emerging environmental challenges.
On the digital economy, he said BOI was committed to financing technology-led businesses and supporting the digitalisation of Nigerian enterprises.
“On the digital front, we know that digital economy provides one of the biggest opportunities for economic growth and development of our country.
“So, we are very committed to financing technology-led businesses and digitalisation of Nigerian enterprises,” he said.
Mr Olusi called for sustained collaboration with the media to communicate the impact of development financing and strengthen accountability in the implementation of the bank’s programmes.
Dr Uche Nwachukwu, Chief Impact Officer, Strategy, Policy and Research Division, BOI, said the 2025-2027 strategy was designed to drive sustainable and inclusive industrial development through tailored financing for underserved businesses and high-impact sectors.
Mr Nwachukwu said the strategy would expand access to financing through low-collateral loans, project finance, guarantees, equity investments and advisory services.
He said the bank would also broaden its reach through a digital portal, on-lending partners and a network of Business Development Service Providers.
According to him, BOI will diversify its funding sources through sector-specific funds, improved financing terms and additional equity, while leveraging technology, data and strategic partnerships to implement its programmes.
He said the strategy set specific targets for key beneficiary groups, including allocating 35 per cent of funding to MSMEs, 30 per cent of large-enterprise funding to infrastructure, 15 per cent of funding to women-owned businesses and 20 per cent of MSME funding to youth-led enterprises.
Mr Nwachukwu said the bank would implement a Sustainable Finance Framework to facilitate green bond issuance and establish a Carbon Credit Grant Facility.
He added that climate screening would be incorporated into every financing appraisal, supported by an action plan to identify climate-related investment opportunities and develop strategic partnerships.
The measures, he said, would strengthen BOI’s capacity to finance clean energy, climate-resilient businesses and circular-economy initiatives while integrating environmental considerations into lending decisions.
On digital financing, Mr Nwachukwu said BOI would leverage the 617.7 million dollar Investment in Digital and Creative Enterprises (IDICE) programme to expand access to capital for technology and creative businesses.
He said broadband connectivity and information and communications technology would remain priority areas, with an action plan focused on digital market access and innovation.
According to him, the digital economy offered significant opportunities to accelerate growth by harnessing Nigeria’s youthful population and strengthening technology-led enterprises.
Mr Nwachukwu said partnerships and financing lines from the European Investment Bank (EIB) would also support efforts to strengthen agricultural value chains and local healthcare manufacturing.
He said the interventions were expected to improve the nation’s capacity to meet domestic demand through local production, create jobs and strengthen industrial development.
NAN