BOI Targets N1.35trn Lending, 3m Jobs By 2027
…Records N625bn Disbursement The Bank of Industry has set a target to scale annual lending to N1.35 trillion by 2027 and support three million jobs over its 2025-2027 strategy period, after disbursing a record N625…
The Bank of Industry (BOI), Nigeria's foremost development finance institution, has long positioned itself as a key lender to manufacturers and small businesses that struggle to access affordable credit from commercial banks. Its lending targets and job-creation pledges are closely watched as indicators of government efforts to boost local industry, diversify the economy away from oil, and tackle Nigeria's persistently high unemployment rate, particularly among youth and MSME operators who form the backbone of the informal economy.
The outlets largely agree that BOI has unveiled a new 2025-2027 strategy anchored on scaling up annual lending and sustaining three million jobs, building on a recent record disbursement figure. However, they diverge on the exact lending target cited for 2027 — N1.35 trillion versus N1.85 trillion — a discrepancy not resolved across the coverage. Details such as the sectors prioritised, funding sources for the expanded lending, and how the MSME financing plans will be implemented remain to be clarified in further reporting.