The Bank of Industry (BOI) announced plans to boost funding for agriculture, local healthcare manufacturing, and digital businesses in 2027.
The bank shared this news as it aims to build on its successes from the 2025, 2027 corporate strategy and support Nigeria’s industrial growth.
Olasupo Olusi, the bank’s Managing Director and Chief Executive Officer, revealed the plan on Thursday at a meeting in Lagos. He discussed the bank's goals for the last year of the strategy.
Mr Olusi mentioned that BOI would collaborate with the Federal Ministry of Industry, Trade and Investment on the National Industrial Finance Compact. This partnership aims to attract more long-term investment into Nigeria’s industrial sector.
He also stated that the bank plans to use its new European Investment Bank resources for agriculture and local healthcare manufacturing, aiming to boost local production of food and medicines.
The funding includes €85 million from the European Investment Bank for agriculture and an additional €50 million for healthcare manufacturing in 2026. This is part of over €2.2 billion in new funding that the bank has secured for Nigerian industry since 2024.
“We will deploy our new European Investment Bank facilities into agriculture and local healthcare manufacturing so that Nigeria produces more of the food and medicines it consumes,” he said.
ICT and Digital Economy Plans
The bank also intends to grow its information and communications technology (ICT) and digital economy sectors through the Investment in Digital and Creative Enterprises (iDICE) programme.
Mr Olusi said these initiatives are part of the bank’s efforts to solidify its achievements and reach the goals set in the 2025, 2027 corporate strategy.
“2027 is the final year of our strategy, and our task is to consolidate and meet every target we set,” the BOI boss, Mr Olusi, said.
In 2025, BOI reported it disbursed N644.9 billion, reaching 12,501 businesses and supporting 1.68 million jobs.
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