The Bank of Industry has set a target of creating and sustaining three million jobs and raising its annual lending to N1.85 trillion by 2027, the bank's Managing Director said on Thursday, October 22, 2026. Olasupo Olusi disclosed the targets during an engagement with media executives in Lagos, where he outlined the bank's corporate strategy for 2025 to 2027. The strategy aims to double the bank's loan portfolio, disbursements and development impact, with priority sectors including manufacturing, agriculture, local healthcare, climate-friendly businesses and technology-driven enterprises.
The three-year strategy is structured around six thematic areas, with 2025 serving as the foundation year, 2026 focusing on execution and expansion, and 2027 dedicated to consolidating results. BOI will concentrate its financing on sectors capable of boosting local production, reducing import dependence and generating sustainable employment. The bank expects this approach to help Nigeria produce more of the food and medicines consumed locally, alongside other essential materials. Olusi said the bank disbursed N625 billion in 2025, reaching 12,501 businesses and supporting the creation and sustenance of 1.6 million jobs.
Micro, Small and Medium Enterprises accounted for more than 31 per cent of the 2025 funding, while approximately N120 billion went to women-owned businesses. To expand access to finance further, BOI plans to provide funding to 24,000 MSMEs by 2027, allocating 35 per cent of its funding to MSMEs, 15 per cent to women-owned businesses and 20 per cent of MSME financing to youth-led enterprises.
The bank also plans to dedicate at least 10 per cent of its loan portfolio to climate-related investments. BOI will leverage the 617.7 million dollar Investment in Digital and Creative Enterprises programme to support technology and creative businesses over the strategy period.