BOI Targets 80% Loans for Power and Manufacturing Sectors

The Bank of Industry (BOI) has unveiled a financing strategy aimed at channeling 80% of its lending to large enterprises into priority sectors, including power, manufacturing, agribusiness, pharmaceuticals, and digital infrastructure. This initiative is part of BOI's 2026 strategy, which seeks to tackle Nigeria's significant economic challenges such as high inflation, foreign exchange shortages, and weak industrial productivity.

According to the 2025 Annual Development Impact Report, 35% of total funding will be allocated to micro, small, and medium enterprises (MSMEs), while 80% of large enterprise financing will focus on priority sectors. The bank plans to dedicate 30% of large enterprise funding to infrastructure projects, 15% to women-owned businesses, and 20% of MSME financing to young entrepreneurs.

The report emphasizes that 2026 is a critical year for BOI's transformation agenda, aiming to double its asset base by 2027 and enhance Nigeria's industrial base through targeted capital deployment.