ABOUT BOI
Committed to Transforming the Industrial Sector in Nigeria
The Bank of Industry Limited (BOI) is Nigeria’s oldest, largest and most successful development financing institution (DFI). It exists to facilitate the transformation of Nigeria’s industrial sector by providing financial and advisory support for the establishment of large, medium and small projects/ enterprises, and the expansion, diversification, rehabilitation and modernisation of existing enterprises.
This commitment has continuously driven us to develop innovative strategies, interventions and solutions that are propelling the Nigerian economy towards sustained growth. The Bank continues to support growth across various sectors including Agro and Food Processing, Creative Industries, Engineering and Technology, Healthcare and Petrochemicals, Oil and Gas, Renewable Energy and Solid Minerals; leveraging its 30 state offices nationwide.
WHY CHOOSE BOI?
We Create Convenient and Valuable Opportunities for Businesses in Nigeria
₦312.5bn
Disbursements till Date
4,234,670
Number of Enterprises Supported
9,050,796
Total Jobs Created
WHO WE SERVE
Providing Business Support for Large, Medium, Small and Micro Enterprises
BOI provides financial and advisory support to all customer segments, through our directorates and partnerships. The Bank’s directorates are dedicated to providing finance for businesses across sectors of the economy responsible for driving sustainable development.
Loan Value: Maximum of ₦10m
Loan Value: From ₦10m- ₦2bn
WHAT WE OFFER
Development and Support to Specific Nigerian Sectors
Agriculture
Agro Processing
Creative Industries
Engineering and Technology
Healthcare and Petrochemicals
Oil and Gas
Renewable Energy
Solid Minerals
Women-Owned Business
Youths
IMPACT
58 Years of Economic Development and Support
FAQs
Do you Have Questions? We Have Answers
There are criteria that must be met for a project to be eligible for financing. These include:
- Businesses must be registered with the Corporate Affairs Commission (CAC)
- Businesses must have their audited financial statements (if existing)
All loan applications are submitted at the various state offices closest to the customer. However, it is IMPORTANT TO NOTE that processing of the loan application does not commence until all documents stated in the checklist are provided. (Our Locations)
Micro-enterprises can apply for loans that are less than N10million.
Interest rates vary depending on the product. Please refer to the product guide on the website.
Yes. Depending on the type of loan, you may be required to pay the following fees and charges;
- Appraisal Fee (non-refundable) – 1% of approval amount
- Commitment Fee (non-refundable)– 1% of approval amount
- Monitoring Fee – 0.0125% of approval amount per quarter (on reducing balance)
- Insurance charge
- Legal Fees
Up to the 3 years.
Yes. A combination of;
- Irrevocable Personal Guarantee of the Chief Promoter of the company
- Two (2) external Guarantors acceptable to BOI who must belong to any of the following categories:
- Senior Civil Servant (Level 12 and above) who should not be more than 53 years old or not more than 28 years in service (whichever comes first.
- Bankers (not below the level of Assistant Manager) and must have been confirmed by current employer.
- Professionals i.e. Medical Doctors, Lawyers, Accountants, Engineers, etc.
- Senior Staff (not less than a manager) of reputable quoted Companies, International Oil Companies, Telecommunications Companies (GSM providers)
The guarantees must be supported by duly Notarized Statement of Net worth acceptable to BOI
- Payment of 10% security deposit into designated BOI account; in addition to lien over the equipment (present and future)
- Asset and Credit Life Insurance of the Chief Promoter
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RESOURCES
Repository of economic insight and research
Access our extensive hub of economic insight, information, and research to learn about the intricacies of different Nigerian industries and how to improve your business performance.
OUR PARTNERS
Harnessing Strategic Partnerships and Promoting Development
BOI has also established strategic partnerships with key private, public & multilateral institutions towards enabling the bank to effectively achieve its mandate.
PARTNER WITH US
We believe that collaboration is necessary to achieve our goal of economic transformation through a diverse ecosystem of private and public partners. Working together, we can deliver more sustainable and equitable solutions and amplify our impact.