BOI targets N1.85trn annual lending, 3m jobs by 2027

The Bank of Industry (BOI) says it is targeting N1.85 trillion in annual lending and financing for 24,000 Micro, Small and Medium Enterprises (MSMEs) under its corporate strategy.

The Managing Director of BOI, Olasupo Olusi, disclosed this during an engagement with media executives in Lagos on Thursday, October 22, 2026.

Olusi added that the bank also targeted three million jobs between 2025 and 2027.

Olusi said the strategy prioritised manufacturing, agriculture, local healthcare, climate-friendly businesses, and technology-driven enterprises to strengthen domestic production, expand access to long-term capital and create sustainable employment.

He said the bank was also working to close financing gaps in climate-related investments and the digital economy.

According to him, the strategy’s 2X ambition is to double the bank’s loan book, disbursements, and impact instruments within three years.

Olusi said the strategy was built around six thematic areas, each with specific targets to guide implementation and measure progress.

The BOI boss said: “We will deploy many of the resources that we need for growth in our country, in areas such as agriculture, local healthcare and manufacturing.

“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.”

Olusi said BOI’s 2025-2027 corporate strategy was structured into three phases, with 2025 serving as the foundation year for establishing governance frameworks, products, digital tools and budgetary provisions.

Olusi described 2026 as the year of execution and scale, while 2027 would focus on consolidating results and meeting set targets.

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He said the bank disbursed a record N625 billion in 2025, supporting the creation and sustenance of 1.6 million jobs and reaching 12,501 businesses.

He said the amount represented a 26 per cent increase over the N410 billion recorded in 2024.

According to him, MSMEs received more than 31 per cent of the bank’s 2025 funding, while about N120 billion was disbursed to women-owned businesses.

Olusi said BOI would continue to expand financing for underserved enterprises, particularly women-owned and youth-led businesses, while strengthening its capacity to mobilise funds from domestic and international markets.

Olusi said the bank would also deepen its support for local production in line with the Federal Government’s Nigeria First policy.

“Our mission is very simple. We have to finance what Nigeria makes,” he added.