Development finance institution

Bank of Industry Limited

Compiled from public sources

The Bank of Industry Limited (BOI) is Nigeria's oldest, largest, and most successful development finance institution (DFI). Headquartered in Lagos, it is a state-owned enterprise, with the Ministry of Finance Incorporated (94.8%) and the Central Bank of Nigeria (5.19%) as the largest shareholders. BOI’s mandate is to transform Nigeria's industrial sector by providing long-term financial and advisory support for the establishment, expansion, and modernisation of large, medium, small, and micro-enterprises. Its investment strategy focuses on import substitution, value-added manufacturing, and job creation across critical sectors such as agribusiness, technology, and renewable energy. The bank operates through a network of 37 state offices and several specialised subsidiaries, acting both as a direct lender and a manager of various government and international intervention funds.