The Bank of Industry (BoI) confirmed that it has mobilised over €2.22 billion and N250 billion in new financing across deals closed from 2024 to 2026, targeting long‑term, affordable capital for Nigerian manufacturers and farmers. Managing Director/Chief Executive Officer Dr. Olasupo Olusi presented the figures at a media roundtable, linking the raise to the institution’s 2025‑2027 corporate strategy.
**What were the key financing transactions?**
- A €1.879 billion syndicated loan secured in 2024, later honoured as Syndicated Loan Deal of the Year.
- €210 million obtained from international development partners in 2025.
- An oversubscribed N250 billion development bond issued in 2026.
- €85 million from the [European Investment Bank](https://www.eib.org) in 2026 for agricultural projects, plus an additional €50 million facility for health‑care manufacturing.
Olusi said the inflow of capital reflects growing investor confidence in BoI’s governance, pipeline of projects and measurable development impact. “Nigerian businesses need long‑term, affordable capital, and the commercial banking system cannot provide enough of it. Filling that gap is our job,” he asserted. He added, “Investors have placed this money with us because they trust our governance, our pipeline and our results.”
**How is the funding expected to be used?**
The EIB facilities are earmarked to strengthen financing for domestic agricultural production and health‑care manufacturing, helping reduce Nigeria’s reliance on imported food and medicines. Under the 2025‑2027 plan, BoI aims to double its loan book, disbursements and development‑impact instruments within three years.
The bank has identified 15 priority sectors grouped under agro‑manufacturing, other manufacturing, infrastructure, extractive industries and services. Currently, 80 % of large‑enterprise lending is directed to manufacturing and infrastructure, sectors seen as the biggest job‑creation engines.
**What have been the recent disbursement results?**
- In 2025, BoI disbursed N644.9 billion, a 26 % rise from N510.9 billion in 2024.
- Funding reached 12,501 businesses and supported or created 1.68 million jobs.
- N120.9 billion of the 2025 outlay went to women‑owned enterprises, while MSMEs received 41 % of total financing, surpassing the bank’s 35 % target.
Beyond private and development‑partner capital, BoI is executing a N200 billion Federal Government intervention package – comprising a N50 billion Presidential Conditional Grant Scheme, a N75 billion MSME Intervention Fund and a N75 billion Manufacturing Sector Fund – with more than 95 % already delivered to 957,400 grant beneficiaries, 9,000 MSMEs and 104 large manufacturers.
Additional achievements include N213 billion allocated to agro‑allied businesses, linking 47,508 smallholder farmers to processors, and a N6.5 billion Rural Area Programme on Investment for Development (RAPID) that supported 880 rural enterprises across all 36 states and the Federal Capital Territory, generating over 8,000 jobs.
**What are the future plans?**
Olusi indicated that the newly secured EIB facilities will be deployed to agriculture and local health‑care manufacturing. The bank also intends to broaden financing for ICT firms through its iDICE programme and collaborate with the Federal Ministry of Industry, Trade and Investment on a National Industrial Finance Compact to attract further long‑term capital.
“Our mission is simple: finance what Nigeria makes, and create jobs for Nigerians,” Olusi concluded.