Under Dr. Olasupo Olusi's Leadership, Bank of Industry Drives Nigeria's Economic Renewal with Record Disbursements and Inclusion Focus

At a time when the Nigerian economy faces mounting pressure from geo-political tensions and the need for industrial diversification, the Bank of Industry (BOI) is emerging as a strategic institution for economic transformation.

At the center is Dr. Olasupo Olusi, Managing Director and CEO, whose reform-driven leadership is redefining development finance. A respected economist with over two decades of global experience, including at the World Bank, IFC, and as Economic Adviser at Nigeria’s Federal Ministry of Finance, Olusi is repositioning BOI as a modern, impact-driven powerhouse.

Five Thematic Priorities Shaping BOI

Olusi’s agenda focuses on five pillars: support for SMEs, digital transformation, youth and skills development, gender inclusion, and climate sustainability. Results are evident in BOI’s February 2025 Impact Report: a record N636 billion disbursed to over 7,000 enterprises, with non-performing loans below 1.5%, supporting or creating 1.6 million jobs.

Sector allocations included N202 billion for agro-allied, N100 billion for infrastructure, N79 billion for manufacturing, N77 billion for extractive industries, and N55 billion for services.

Strong Support for MSMEs

MSMEs received N178 billion, nano enterprises N51 billion, and micro enterprises N32 billion, reinforcing their role as Nigeria’s economic backbone. Learn more about ESG trends boosting Nigerian capital.

Gender Inclusion Initiatives

The Guaranteed Loans for Women (GLOW) Programme provides N10 billion in affordable financing up to N50 million per beneficiary. BOI also partnered with MTN Foundation on the Y’ellopreneur 3.0 Matching Fund,a N1 billion programme training 1,000 women entrepreneurs and offering loans up to N5 million to 200 women-led MSMEs.

Internally, BOI launched “BOI Amazons” in 2024 to foster mentorship and development for female employees.

Youth and Rural Enterprise Support

Youth-owned businesses received N12 billion, while over 880 rural businesses across Nigeria’s 36 states and FCT accessed more than N6.5 billion via the Rural Area Programme on Investment for Development (RAPID).

Strategic Partnerships and Collaborations

BOI is aligning with global institutions, development agencies, state governments, and private sector players. Key partnerships include a framework with GIZ for MSME strengthening, an MoU with RMRDC for value addition in agro-processing, solid minerals, and manufacturing, and an N825 million clean energy initiative with UNIDO-GEF.

BOI also became Nigeria’s first National Implementing Entity for the United Nations Adaptation Fund.

Digital Transformation and Efficiency

BOI is modernizing systems to improve service delivery, reduce bureaucracy, and expand access, contributing to its low non-performing loan ratio. See related financial operations updates.

Sustainability and ESG Focus

BOI won the “Best Circular Economy Model” at the 2026 Sustainable Finance Awards for its Paper Decluttering Initiative, reducing paper usage by 25-65% across 34 locations. Projects financed reduced carbon emissions by 20,000 tonnes in one year.

Sustainability is now central to BOI’s strategy, with ESG principles integrated into financing.

Institutional Evolution

Through customer forums, entrepreneurship programmes, ESG conferences, and dialogues, BOI is evolving from a traditional lender into a knowledge-driven development institution focused on impact, innovation, sustainability, and inclusion.

With degrees from Hull University and the University of Durham, Olusi brings global best practices to Nigeria’s development finance, positioning BOI as a driver of industrial expansion and economic growth.