Lending Criteria

The bank’s emphasis is on prudent project selection and management, accordingly, it supports quality projects with potential developmental impact. BOI therefore, considers industries that meet the following criteria:

  • Capacity to substantially add to industrial output.
  • Projects that use largely domestic raw materials.
  • Industry in which Nigeria’s comparative advantages could be converted to competitive ones.
  • Ability to promote the expansion of exports through the production of high quality products that are attractive to domestic and export markets.
  • Niche projects that produce for worldwide consumption.
  • Projects that create both forward and backwards linkages, with the rest of the domestic or regional economy.
  • Ventures that promote inter-state or regional integration.
  • Small and medium enterprises (SMEs) that have linkage with large firms, belong to clusters and operate under franchise.
  • Enterprises with high employment generation capacity.
  • The project must be technically feasible, commercially viable and economically desirable.
  • Projects that are environmentally friendly.
  • Enterprises that have good management set-up and proper accounting procedures.
  • Enterprises promoted by women entrepreneurs.

The following industrial sub-sectors are also accorded priority in the project selection:

  • Agro-industries, textile and leather
  • Polymer –based industries
  • Solid minerals
  • Foundries
  • Information communication technology (ICT) services

Please Click Here for Pre and Post Approval Documentation

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