The Bank of Industry (BOI) has announced a new financing strategy aimed at strengthening Nigeria’s productive sectors and supporting businesses that can drive economic growth.
Under the plan, 80 per cent of the bank’s lending to large businesses will go to priority areas such as power, manufacturing, agribusiness, pharmaceuticals, transport and logistics, and digital infrastructure.
The strategy is part of BOI’s 2026 programme under its 2025–2027 transformation agenda. The bank said the plan is designed to address some of the major challenges facing Nigerian businesses, including high energy costs, foreign exchange difficulties, expensive borrowing and poor infrastructure.
According to the bank’s 2025 Annual Development Impact Report, 35 per cent of its total funding will be dedicated to micro, small and medium-sized enterprises (MSMEs). The lender also plans to ensure that 20 per cent of MSME financing goes to young entrepreneurs.
Women-owned businesses will receive 15 per cent of the bank’s targeted financing, while 10 per cent of funding will support green projects. Another 15 per cent will be directed towards digital and information technology initiatives.
BOI also plans to dedicate 30 per cent of its large-enterprise financing to infrastructure projects. These investments are expected to cover areas such as electricity generation, transmission and distribution, industrial parks and logistics networks.
The bank believes that stronger investment in infrastructure could help businesses reduce operating costs and improve productivity.
Manufacturing and agribusiness are also major parts of the strategy. BOI expects financing in these areas to increase local production and reduce Nigeria’s dependence on imported goods.
The bank said supporting local manufacturers, food processors and pharmaceutical companies could also reduce demand for foreign exchange by allowing more goods and industrial inputs to be produced locally.
MSMEs, which employ a significant portion of Nigeria’s workforce, remain another major focus. BOI said many small businesses continue to struggle with high interest rates, collateral requirements, unreliable electricity and limited access to credit.
To address these problems, the bank plans to expand its digital lending platforms and partnerships with commercial and microfinance banks. The initiative is expected to make it easier for small businesses to obtain working capital, access sector-specific loans and receive faster credit decisions.
BOI is equally planning a major digital transformation of its own operations. The bank intends to introduce centralised data systems, automated loan monitoring, digital dashboards and fully online lending processes.
The institution described 2026 as an important year in its transformation programme, with the goal of increasing the scale and impact of its financing.
The bank’s broader ambition is to double its asset base by 2027 while supporting industrialisation, job creation and economic resilience.
However, the success of the strategy will depend on how effectively the planned funds reach businesses and projects that can produce measurable economic results.
If properly implemented, BOI’s new approach could provide much-needed capital to Nigerian businesses, strengthen local production, create employment opportunities and help reduce some of the structural pressures affecting the economy.
