The Bank of Industry (BoI) has raised over $5 billion in international funding, including €2 billion through a record-breaking loan syndication. This milestone reflects the bank’s strategic efforts to finance Nigeria’s industrial development, focusing on partnerships with state governments, trade associations, and international financial institutions. To further support small and medium enterprises (SMEs), BoI has created a network of over 300 Business Development Service providers and established collaborations with microfinance banks and fintech companies.
Managing Director Dr. Olasupo Olusi, at the bank’s 65th-anniversary briefing, highlighted BoI’s achievements, including managing Nigeria’s N200 billion MSME Intervention Fund and signing agreements with institutions like SMEDAN and the AfDB. These initiatives aim to enhance financing options, offer single-digit interest loans, and deepen support for critical sectors. Olusi also emphasized the bank’s alignment with President Tinubu’s Renewed Hope Agenda to address macroeconomic challenges and foster economic resilience.
Looking ahead, BoI remains committed to sustainable industrialization by expanding financial inclusion, advocating business-friendly policies, and strengthening partnerships. Through these efforts, the bank aims to drive innovation, support MSMEs, and contribute to building a robust and inclusive economy, underscoring its role as a catalyst for Nigeria’s development.
