The Bank of Industry is planning to concentrate 80 per cent of its loans to large companies on sectors it considers vital to Nigeria’s economic growth.
Power, manufacturing, agribusiness, pharmaceuticals and digital infrastructure are among the areas expected to receive a major share of the financing.
The plan is contained in the bank’s 2025 Annual Development Impact Report and forms part of its 2026 strategy to boost industrial activity while addressing challenges such as high inflation, foreign exchange shortages, expensive energy and poor productivity.
BOI said 35 per cent of its overall financing would be reserved for micro, small and medium enterprises, while four-fifths of its lending to large businesses would go to priority sectors.
The bank also intends to dedicate 30 per cent of large-enterprise financing to infrastructure. Women-owned businesses are expected to receive 15 per cent, while 20 per cent of MSME funding will target young entrepreneurs. Green projects and digital and ICT initiatives will receive 10 per cent and 15 per cent respectively.
The report stated, “The year 2026 sits at the centre of BOI’s 2025-2027 transformation agenda. It is the year where strategic intent must translate into tangible sectoral impact, particularly in energy-dependent, FX-exposed and import-substitution sectors that dominate Nigeria’s real economy.
“BOI’s ambition is to double its asset base by 2027 while delivering industrialisation, job creation and economic resilience. By 2026, BOI must already be well into this growth curve, deploying capital at scale into priority sectors and correcting structural bottlenecks that limit Nigeria’s productivity.”
According to the bank, its lending priorities are aimed at areas that can have a direct impact on prices, employment and economic expansion.
It identified electricity, transport and logistics, manufacturing, agriculture, pharmaceuticals and digital technology as sectors capable of improving productivity and reducing the country’s reliance on imported goods.
The report stated, “BOI is channelling 35 per cent of funding to MSMEs, 80 per cent of Large Enterprise funding to priority sectors, 30 per cent of all large-enterprise funding to infrastructure, 15 per cent to women, 20 per cent of MSME funding to youth, 10 per cent to green projects, 15 per cent to digital & ICT.
“This means 2026 is when Nigeria’s industrial base begins to receive purpose-built capital instead of generic loans.”
The institution also plans to support projects covering electricity generation, transmission and distribution, alongside industrial parks and logistics corridors.
The bank stated, “By 2026, BOI will finance power generation, transmission and distribution, fund industrial parks and logistics corridors and de-risk private investment through guarantees and blended finance.
“This directly attacks energy costs in food processing, logistics failures in agro-processing and chemicals, and foreign exchange demand caused by imports.”
BOI believes greater investment in local manufacturing, agriculture, food processing and pharmaceuticals could help reduce the demand for foreign currency by cutting imports and supporting export-oriented businesses.
The report stated, “By financing manufacturing, agribusiness, food processing and pharma, BOI’s 2026 portfolio will expand export-earning industries and import-substitution industries. This reduces FX demand from pharmaceuticals, food and industrial inputs, which are currently FX-dependent sectors.”
The bank said businesses across different sizes continue to face similar obstacles, including costly loans, strict collateral demands, unreliable power and transport systems, exchange-rate volatility and multiple taxes.
To ease funding difficulties for smaller firms, BOI plans to expand digital lending and work with commercial and microfinance banks to make credit more accessible.
The report stated, “In 2026, BOI’s digital loan platform and on-lending partnerships with microfinance and commercial banks will allow MSMEs to access low-collateral working capital, sector-specific credit products and faster loan approvals.
“This addresses MSME problems of high interest rates, collateral barriers and limited access to finance. The outcome: MSMEs shift from survival to growth.”
The bank is equally investing in its own digital systems, with plans for automated loan monitoring, centralised data platforms, digital dashboards and online lending services.
BOI described 2026 as its “digital take-off year”, stressing that the upgrade would be necessary to manage the scale of its planned lending activities.
The lender stated, “Without this digital backbone, the scale of 2026 deployment would be impossible.”
The strategy comes as Nigeria seeks to strengthen domestic production and move away from excessive dependence on oil and imports. BOI’s success will ultimately depend on how effectively the proposed financing is converted into stronger businesses, increased production and new employment opportunities.