BOI's Olasupo Olusi on Nigeria's Economic Development

Olasupo Olusi, representing the Bank of Industry (BOI), emphasized the bank's role in shaping Nigeria's economic future by focusing on measurable impacts from financial interventions. The BOI plans to launch its first annual development impact report in June, marking a significant shift in how the bank assesses its contributions to job creation and economic outcomes.

The bank has expanded its reach to 36 offices across 33 states, aiming to provide financial access beyond urban centers. Olusi noted the importance of addressing climate resilience and sustainability in financing, highlighting the bank's accreditation by the Global Adaptation Fund in October of the previous year.

The BOI has also restructured its subsidiaries, including Lecon, which is set to become Nigeria's largest leasing company with a recapitalization of N50 billion. The BOI Microfin Bank is also undergoing changes to enhance financial inclusion for underserved populations.

The bank's corporate strategy from 2025 to 2027 will focus on six thematic areas to deepen its development impact.