BOI targets 80% loans for power, manufacturing sectors
The Bank of Industry (BOI) plans to channel 80% of its large enterprise loans into priority sectors like power and manufacturing by 2026 to boost Nigeria’s Read More: https://punchng.com/boi-targets-80-loans-for-power-manufacturing-sectors/
The Bank of Industry (BOI) has announced plans to direct 80% of its lending to large enterprises into priority sectors such as power, manufacturing, agriculture, pharmaceuticals, and digital infrastructure. This move is part of the bank's 2026 strategy aimed at addressing Nigeria's economic challenges, including high inflation, foreign exchange shortages, energy costs, and weak industrial productivity.
The bank's 2025 Annual Development Impact Report outlines the strategic inflection point at which 2026 will play a crucial role in its three-year transformation agenda. The report highlights that 35% of the total funding will go to micro, small, and medium enterprises (MSMEs), while 80% of funding to large enterprises will be channeled to priority sectors.
Additionally, 30% of large enterprise financing will be allocated to infrastructure projects, 15% to women-owned businesses, 20% to MSME financing for young entrepreneurs, 10% to green projects, and 15% to digital and information technology initiatives. The 2026 strategy aims to double the bank's asset base by 2027 while driving industrialization, job creation, and economic resilience.
Written by urgent.news from Punch Nigeria's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
