BOI to focus 80% of large enterprise loans on key sectors
The Bank of Industry (BOI) has announced a new financing approach to direct 80% of its large enterprise loans into sectors like power, manufacturing, agribusiness, pharmaceuticals, and digital infrastructure. The strategy is part of BOI’s broader plan to address Nigeria’s economic challenges and support industrial growth. The bank aims to double its asset base and boost job creation by targeting sectors that can reduce import dependence and improve productivity. BOI also plans to enhance support for micro, small, and medium enterprises (MSMEs) through digital lending and partnerships.
TLDR
- BOI will channel 80% of its large enterprise lending to priority sectors including power, manufacturing, agribusiness, pharmaceuticals, and digital infrastructure.
- The bank’s strategy includes dedicating 35% of total funding to MSMEs and allocating specific portions for women-owned businesses, youth, green projects, and digital initiatives.
- BOI aims to address issues like high energy costs, weak infrastructure, and foreign exchange shortages by focusing on sectors that influence inflation and economic growth.
- The bank plans a major digital transformation to improve loan processing, monitoring, and efficiency, calling 2026 its “digital take-off year.”
- Through these initiatives, BOI seeks to boost industrialisation, job creation, and economic resilience while helping businesses move from survival to growth.
