BOI directs 80% of loans to priority sectors

The Bank of Industry unveils its 2026 lending strategy, directing 80% of financing for large enterprises into priority sectors such as power, manufacturing, agribusiness and digital infrastructure.

The Bank of Industry unveiled its 2026 lending strategy, directing 80% of financing for large enterprises into priority sectors such as power, manufacturing, agribusiness, and digital infrastructure. The strategy reflects the bank’s commitment to supporting Nigeria’s industrialisation and economic diversification agenda.

The focus on power, manufacturing, agribusiness and digital infrastructure is a recognition that these sectors are critical to Nigeria’s long-term growth. The allocation of 80% of financing to these sectors will provide a significant boost to investment and job creation. The remaining 20% will be available for other sectors.

This echoes the 2020 BOI lending strategies, which also sought to support priority sectors. The mechanism then was different, but the result was the same: a focus on industrial development.

The winners: businesses in the priority sectors, which will have access to financing; and the Nigerian economy, which gains from investment. The losers: businesses in other sectors, which may struggle to access credit; and the Nigerian government, which must ensure the strategy is implemented effectively.

Bottom Line: BOI is targeting 80% of loans at priority sectors. The focus is on industry and infrastructure. The question is whether the strategy will deliver growth.