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 varieties a part of a broader IFC funding package deal of up to $100 million in assist of BOI, with no less than 25 % 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 lengthen longer-term finance to productive companies in manufacturing, agriculture, and renewable power.
The deal may also lengthen finance to the Nigerian artistic industries with the potential for job creation for the nation’s rising youthful inhabitants.
According to the stakeholders, the deal is concentrated on accelerating industrial improvement, supporting productive enterprises, in motion.
It may also mix direct improvement finance with home capital market mobilisation to crowd in longer-term funding for enterprise progress.
BOI stated the settlement reinforces its skill 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 ability 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 skill to present long-term financing to MSMEs and productive enterprises with a deliberate give attention to 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 necessary milestone in constructing a deeper strategic partnership that may contribute meaningfully to Nigeria’s financial transformation.
On his half, Mr Diop said that increasing entry to long-term finance is important 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 progress 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 acquired 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 full funding, exceeding the financial institution’s 35 per cent goal for the yr.
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 progress, deepening entry to finance and strengthening Nigeria’s productive base.
The financial institution stated it would proceed to work with IFC in the direction of completion of the definitive financing documentation and fulfilment of all customary situations 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 financial system.
IFC, the most important world improvement establishment, is concentrated on the personal sector in rising markets, with operations in additional than 100 nations.
In fiscal yr 2026, IFC stated it dedicated a document $105 billion to personal corporations and monetary establishments in growing nations.
Discover extra from Premium Times Nigeria
Subscribe to get the most recent posts despatched to your e-mail.
