The Bank of Industry (BOI) has unveiled a 2026 financing strategy that will direct 80 per cent of its lending to large enterprises towards priority sectors as the development finance institution seeks to accelerate Nigeria’s industrial recovery.
The strategy places sectors including power, manufacturing, agribusiness, pharmaceuticals and digital infrastructure at the centre of the bank’s 2026 lending plans.
BOI disclosed the strategy in its 2025 Annual Development Impact Report, describing 2026 as a “strategic inflection point” in its 2025–2027 transformation agenda.
The bank said the strategy is designed to address major constraints affecting businesses and the wider economy, including high inflation, foreign exchange shortages, rising energy costs, weak infrastructure and low industrial productivity.
Under the strategy, 35 per cent of BOI’s total funding will be allocated to micro, small and medium enterprises, while 80 per cent of financing for large enterprises will go to priority sectors.
The bank will also allocate 30 per cent of large enterprise financing to infrastructure projects and dedicate 15 per cent of its financing to women-owned businesses.
In addition, 20 per cent of MSME financing will target young entrepreneurs, while 10 per cent of funding will support green projects and 15 per cent will go towards digital and information technology initiatives.
According to the report, the 2026 strategy is intended to move BOI from broad lending towards targeted capital deployment in sectors considered critical to Nigeria’s economic transformation.
“BOI’s ambition is to double its asset base by 2027 while delivering industrialisation, job creation and economic resilience,” the report stated.
The bank identified power and electricity, transport and logistics, manufacturing, agribusiness, pharmaceuticals and digital technology as transformational sectors capable of improving productivity and reducing the country’s dependence on imports.
BOI said it plans to finance power generation, transmission and distribution projects, as well as industrial parks and logistics corridors.
It will also use guarantees and blended finance mechanisms to reduce risks associated with private-sector investment in critical infrastructure.
The bank expects increased investment in these areas to help businesses deal with some of their biggest operating challenges, particularly high energy costs, inefficient transportation networks and dependence on imported inputs.
Manufacturing and agribusiness will also receive significant attention under the 2026 financing strategy.
BOI said financing food processing, manufacturing, pharmaceuticals and other productive sectors could help expand export-oriented industries while reducing demand for foreign exchange used to purchase imported goods and industrial inputs.
The bank believes that stronger domestic production could contribute to improved economic resilience by reducing import dependence and creating additional opportunities for businesses to participate in local and international value chains.
The strategy comes against the backdrop of persistent financing challenges facing Nigerian businesses, including high interest rates, collateral requirements, energy costs, infrastructure gaps and currency instability.
BOI noted that these challenges continue to constrain investment and make it difficult for many businesses to expand beyond survival-level operations.
MSMEs will remain a major focus of the bank’s financing strategy, with 35 per cent of total funding earmarked for the sector.
The bank said it plans to use digital lending platforms and partnerships with commercial and microfinance banks to improve access to finance for smaller businesses.
Through these initiatives, MSMEs are expected to gain access to lower-collateral working capital, sector-specific credit products and faster loan approval processes.
BOI said the approach is intended to address some of the major barriers preventing small businesses from accessing formal financing.
The bank will also dedicate 20 per cent of its MSME financing to young entrepreneurs, potentially creating additional opportunities for youth-led businesses seeking capital to start, expand or scale their operations.
Women-owned businesses will receive 15 per cent of the bank’s financing allocation, while green projects will account for 10 per cent of funding.
The bank is also positioning 2026 as a major year for its internal digital transformation.
According to the report, BOI will deploy centralised data systems, automated loan tracking, digital dashboards and end-to-end online lending processes.
The digital infrastructure is expected to improve the speed and efficiency of loan processing while allowing the bank to monitor the impact of its financing more effectively.
BOI described 2026 as its “digital take-off year”, stressing that a stronger digital backbone would be necessary to support the scale of financing planned under the transformation agenda.
The bank’s broader objective is to double its asset base by 2027 while contributing to industrialisation, job creation and economic resilience.
However, the success of the strategy will ultimately depend on how effectively the planned financing translates into productive investment, stronger businesses and measurable economic outcomes.
With Nigerian businesses continuing to contend with high operating costs, infrastructure constraints and financing difficulties, BOI’s 2026 strategy could play an important role in determining whether targeted development financing can help strengthen domestic production, reduce import dependence and create more sustainable growth opportunities.
For MSMEs and larger businesses alike, the critical question will be whether the increased focus on priority sectors results in greater access to affordable capital and tangible improvements in productivity and business growth.