The Bank of Industry (BOI) has set a target of creating and sustaining three million jobs and increasing annual lending to N1.85 trillion by 2027 under its 2025–2027 corporate strategy.
BOI Managing Director, Olasupo Olusi, disclosed this on Thursday during an engagement with media executives in Lagos, where he outlined plans to expand access to finance and strengthen Nigeria’s productive sectors.
Olusi said the strategy aims to double the bank’s loan portfolio, disbursements, and development impact, with priority given to manufacturing, agriculture, local healthcare, climate-friendly businesses, and technology-driven enterprises.
He said the bank disbursed N625 billion to 12,501 businesses in 2025, supporting the creation and sustenance of 1.6 million jobs. Micro, Small, and Medium Enterprises (MSMEs) received more than 31 percent of the funding, while about N120 billion went to women-owned businesses.
Under the strategy, BOI plans to extend financing to 24,000 MSMEs by 2027, allocate 35 percent of its funding to the segment, and direct 15 percent to women-owned businesses. It also aims to reserve 20 percent of MSME financing for youth-led enterprises.
The bank plans to dedicate at least 10 percent of its loan portfolio to climate-related investments and use the $617.7 million Investment in Digital and Creative Enterprises (iDICE) program to support technology and creative businesses.
Olusi said the strategy would strengthen local production, reduce dependence on imports, and expand employment opportunities.
