BOI plans to increase annual lending to N1.85trn by 2027
Lagos, Oct. 2026 – The Bank of Industry (BOI) plans to increase its annual lending to N1.85 trillion from 2027 to boost business financing and strengthen productive sectors of the country.
Olasupo Olusosi, its Chief Executive, disclosed this at a press briefing on the bank’s 2025–2027 corporate strategy in Lagos on Thursday.
He said the bank also plans to create and sustain three million jobs annually from 2027 as part of its corporate strategy.
The BOI chief executive said the bank’s 2007 corporate strategy was designed to double the bank’s annual loan disbursements to priority like manufacturing, agriculture, local healthcare, climate-friendly businesses and technology-driven enterprises.
He said the bank would concentrate on financing sectors capable of boosting local production, reducing import dependence and generating sustainable employment.
“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.
Olusi also said BOI plans to dedicate at least 10 per cent of its loan portfolio to climate-related investments, while leveraging the $617.7 million Investment in Digital and Creative Enterprises (IDICE) programme to support technology and creative businesses.
“To expand access to finance, the bank plans to provide funding to 24,000 MSMEs by 2027, allocating 35 per cent of its funding to MSMEs, 15 per cent to women-owned businesses and 20 per cent of MSME financing to youth-led enterprises,” he said.
Olusi said BOI disbursed N625 billion to 12,501 businesses in 2025 which created and sustained 1.6 million jobs.
Out of the N625 billion disbursed, Micro, Small and Medium Enterprises (MSMEs) accounted for more than 31 per cent of the funding, while approximately N120 billion went to women-owned businesses.
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