As part of its efforts to deepen more financial inclusion, in the 2025, the Bank of Industry (BOI) says its has established the a BoI impact Fund which will utilize various financial instruments from debts to equity and everything in between to support projects at the nascent stages of development or expansion, businesses in distress and specific value chains that can expand Nigeria’s productivity.
BOI Managing Director/Chief Executive Officer, Olasupo Olusi, disclosed this during their 8th annual BoI/Banks CEOs breakfast meeting.
Olusi, said they have created Export Credit Agency partnerships to strengthen economic collaboration, adding that BOI had signed an MOU with US-EXIM Bank in 2024 to support projects involving the procurement of U.S. goods and services across various sectors.
The Managing Director, while reflecting on 2024, said despite the challenges in Nigeria, due to
unprecedented inflationary pressures, naira depreciation and high interest rates
driven by the Central Bank’s contractionary policies, which strained businesses and households alike sending millions of Nigerians into poverty, BOI still achieve significant progress.
He explained that despite the economic headwinds, BOI disbursed nearly half a trillion naira in loans, supporting job creation and retention across diverse sectors of the economy, adding that their balance sheet also grew to nearly 6.8 trillion naira supported by a global syndication of about 2 billion euros which is the largest amount ever raised by DFI in African history.
Speaking on BOI 2025 to 2027 corporate strategy plan, Olusi said the core objective is for BOI to spearhead Nigeria’s sustainable and inclusive industrial development via tailored offerings to support the underserved and high impact business segments.
He said the new strategy, prioritizes long-term socio-economic development over short-term
profits and focuses on six thematic areas, which are: infrastructure, gender, youth and skills, digital economy, MSMEs, and climate & sustainability.
To ensure accountability, the MD said they have created a development Impact Framework, which is an integrated system of templates, tools, and processes to effectively identify,
measure, monitor, and report the Bank’s developmental impact.
Olusi, who commended the Banks CEOs for their support throughout 2024, also seek for their continued support and partnership in realizing thier new set goals.
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