- The Bank of Industry plans to direct 80 per cent of large enterprise financing to priority sectors in 2026
- The strategy will focus on power, manufacturing, agribusiness, pharmaceuticals and digital infrastructure
- BOI said the plan is aimed at boosting industrial growth, creating jobs and reducing import dependence
The Bank of Industry (BOI) has unveiled a 2026 financing plan that will direct a significant portion of its lending towards sectors considered critical to Nigeria’s industrial and economic development.
Under the strategy, 80 per cent of the bank’s financing for large enterprises will go to priority sectors such as power, manufacturing, agribusiness, pharmaceuticals and digital infrastructures, Eko Hot Blog gathered.
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The development finance institution said the initiative was designed to address major challenges confronting businesses, including high inflation, foreign exchange constraints, expensive energy, inadequate infrastructure and low industrial productivity.
The plans were contained in BOI’s 2025 Annual Development Impact Report, which described 2026 as a crucial period in the bank’s three-year transformation programme.
The report said 35 per cent of BOI’s overall funding would be allocated to micro, small and medium enterprises, while 80 per cent of its large-enterprise financing would target priority sectors.
The bank also plans to allocate 30 per cent of large-enterprise financing to infrastructure, 15 per cent to women-owned businesses and 20 per cent of MSME funding to young entrepreneurs. In addition, 10 per cent of its financing will support green projects, while 15 per cent will be directed towards digital and information technology initiatives.
BOI said the strategy was intended to ensure that its lending directly addresses structural challenges affecting Nigeria’s real economy rather than providing generic financing.
The bank identified electricity, transportation and logistics, manufacturing, agribusiness, pharmaceuticals and digital technology as sectors with strong potential to improve productivity, create jobs and reduce the country’s dependence on imports.
As part of the plan, BOI said it would finance power generation, transmission and distribution projects, while also supporting industrial parks and logistics corridors.
The bank said it would further use guarantees and blended financing arrangements to encourage private-sector investment in critical infrastructure.
BOI said greater investment in manufacturing, food processing, agribusiness and pharmaceuticals could also help ease pressure on the foreign exchange market by reducing the need to import essential goods and industrial inputs.
The institution noted that businesses across different sizes continue to face challenges such as high borrowing costs, collateral requirements, unreliable power and transportation networks, exchange-rate instability and multiple taxes.
According to the bank, these pressures have weakened investment, limited business expansion and forced many companies to focus on survival rather than growth.
Small businesses are also expected to benefit from the strategy through BOI’s digital lending platforms and partnerships with commercial and microfinance banks.
The bank said these arrangements would provide MSMEs with easier access to working capital, sector-specific financing and faster loan processing, while reducing some of the traditional collateral barriers.
BOI is also planning a major digital transformation of its operations in 2026, with the deployment of centralised data systems, automated loan monitoring, digital dashboards and fully online lending processes.
The institution said the digital upgrade would improve operational efficiency and enable it to monitor the impact of its financing more effectively as lending expands.
The bank’s strategy comes at a time when Nigeria continues to face the challenge of achieving broad-based industrial growth and reducing its dependence on oil.
With increased funding targeted at productive sectors, the BOI hopes its 2026 programme will help strengthen domestic production, support businesses, create employment and reduce dependence on imports.
However, the success of the strategy will ultimately depend on how effectively the bank converts its planned financing into measurable improvements in industrial output, job creation and business resilience.
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