Bank of Industry Nigeria (BOI)

The Bank of Industry (BOI) is Nigerias oldest and largest development finance institution, established in 2001. BOI operates a wide range of MSME lending products including the SME Cluster Programme, the Micro Enterprises Loan, the GLOW (Guaranteed Loans for Women) facility, and the N75 billion Federal MSME Intervention Fund. BOI loans typically carry single-digit interest rates compared to commercial bank rates of 25-35%. The bank works with 416+ accredited Business Development Service Providers (BDSPs) and partners with NIRSAL for agricultural lending. BOI also signed an EUR 85 million agreement with EIB Global in 2026 for cocoa and dairy value chains.