Bank of Industry Limited (BOI) and International Finance Corporation (IFC) have signed a $50 million senior loan to expand long-term financing for micro, small and medium-sized enterprises (MSMEs) throughout Nigeria.
The deal types a part of a broader IFC funding package deal of up to $100 million in assist of BOI, with not less than 25 p.c of the loan proceeds devoted to women-owned companies.
The settlement was signed on the Africa Financial Industry Summit (AFIS) 2026 by Olasupo Olusi, the Managing Director/Chief Executive Officer of BOI, and Makhtar Diop, Managing Director of IFC. IFC is a member of the World Bank Group.
The seven-year tenor of the loan will strengthen BOI’s funding base and permit it to prolong longer-term finance to productive companies in manufacturing, agriculture, and renewable vitality.
The deal may even prolong finance to the Nigerian inventive industries with the potential for job creation for the nation’s rising youthful inhabitants.
According to the stakeholders, the deal is targeted on accelerating industrial improvement, supporting productive enterprises, in motion.
It may even mix direct improvement finance with home capital market mobilisation to crowd in longer-term funding for enterprise development.
BOI stated the settlement reinforces its potential to channel affected person capital to companies that create jobs, strengthen native worth chains and assist Nigeria’s inclusive industrial improvement.
Speaking on the approval, Mr Olusi stated the transaction demonstrates the facility of strategic improvement finance partnerships.
“This partnership represents a strong vote of confidence in BOI’s mandate, institutional capacity and role in advancing Nigeria’s industrial development,” the BOI MD stated.
According to him, the $50 million facility will strengthen the financial institution’s potential to present long-term financing to MSMEs and productive enterprises with a deliberate concentrate on increasing alternatives for women-owned companies.
“Beyond the immediate financing, our collaboration with IFC reflects a shared commitment to mobilising capital, supporting enterprise growth and creating sustainable jobs,” Mr Olusi stated.
The BOI CEO added that the monetary establishment sees the deal as an essential milestone in constructing a deeper strategic partnership that can contribute meaningfully to Nigeria’s financial transformation.
On his half, Mr Diop said that increasing entry to long-term finance is crucial to serving to Nigeria’s smaller companies develop, create jobs, and strengthen native worth chains.
“Through our partnership with the Bank of Industry, we are combining financing with local capital-market solutions to mobilize more private capital and expand local-currency funding for MSMEs, including women-owned businesses,” IFC’s Managing Director stated.
Women-owned companies finance
The IFC assist aligns with BOI’s strategic priorities round MSME improvement, gender inclusion, enterprise development and sustainable industrialisation.
In October, the BOI‘s boss, Mr Olusi, stated the financial institution disbursed N644.9 billion to Nigerian enterprises in 2025, of which N120.9 billion went to women-owned companies.
According to him, women-owned and youth-owned companies obtained 20 per cent every in 2025, in opposition to the financial institution’s minimal targets of 15 per cent and 20 per cent, respectively. Also, MSMEs accounted for 41 per cent of the entire funding, exceeding the financial institution’s 35 per cent goal for the 12 months.
READ ALSO: MTN Nigeria appoints ex-Etisalat boss, four other new directors
BOI stated the settlement with IFC helps the Federal Government of Nigeria’s broader goal of increasing personal sector-led development, deepening entry to finance and strengthening Nigeria’s productive base.
The financial institution stated it’ll proceed to work with IFC in direction of completion of the definitive financing documentation and fulfilment of all customary circumstances required for implementation.
BOI is Nigeria’s main improvement finance establishment, offering long-term financing and advisory assist to enterprises throughout key sectors of the Nigerian economic system.
IFC, the most important international improvement establishment, is targeted on the personal sector in rising markets, with operations in additional than 100 nations.
In fiscal 12 months 2026, IFC stated it dedicated a file $105 billion to personal firms and monetary establishments in creating nations.
Discover extra from Premium Times Nigeria
Subscribe to get the most recent posts despatched to your e mail.
