By Faridat Salifu
The Bank of Industry (BOI) plans to expand financing for agriculture, local healthcare manufacturing and digital businesses in 2027, using new funding facilities to boost domestic production and support Nigeria’s industrial development.
Managing Director and Chief Executive Officer of BOI, Olasupo Olusi, disclosed this on Thursday at a meeting in Lagos, while outlining the bank’s priorities for the final year of its 2025–2027 corporate strategy.
Olusi said the bank would deploy €85 million secured from the European Investment Bank (EIB) for agriculture and another €50 million for healthcare manufacturing to increase local production of food and medicines.
“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.
The facilities form part of more than €2.2 billion in new funding BOI said it had secured for Nigerian industry since 2024.
Olusi added that the bank would work with the Federal Ministry of Industry, Trade and Investment on the National Industrial Finance Compact to attract more long-term capital into the industrial sector.
The bank also plans to expand financing for information and communications technology and the digital economy through the Investment in Digital and Creative Enterprises (iDICE) programme.
Olusi said the initiatives were intended to consolidate the bank’s achievements and deliver the targets set under its corporate strategy.
“2027 is the final year of our strategy, and our task is to consolidate and meet every target we set,” he said.
BOI reported that it disbursed ₦644.9 billion in 2025, reaching 12,501 businesses and supporting 1.68 million jobs.
The planned expansion is expected to strengthen financing across key productive sectors, although its impact on domestic food and medicine supply will depend on how the funds are deployed and the production capacity developed by beneficiaries.
