The Bank of Industry has set a target of creating and sustaining three million jobs and increasing its annual lending to N1.85 trillion by 2027, as part of efforts to expand business financing and strengthen Nigeria’s productive sectors.
As reported by Nairametrics, the Managing Director of BOI, Olasupo Olusi, disclosed this on Thursday, October 22, 2026, during an engagement with media executives in Lagos, where he outlined the bank’s 2025–2027 corporate strategy.
Olusi said the strategy was designed 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 explained that the strategy was structured around six thematic areas, with 2025 serving as the foundation year, 2026 focusing on execution and expansion, and 2027 dedicated to consolidating results.
According to him, BOI would concentrate its financing on 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,” Olusi said.
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He added that the initiative would help Nigeria produce more of the food and medicines consumed locally, alongside other essential materials.
“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.
The BOI managing director disclosed that the bank disbursed N625 billion in 2025, reaching 12,501 businesses and supporting the creation and sustenance of 1.6 million jobs.
He said 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.
“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 added.
BOI also 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.
