The Bank of Industry (BOI) held its third Annual Public Lecture on Tuesday, September 29, 2026, in Abuja, bringing together stakeholders in government, industry, finance and policy to examine how capital can deliver greater economic opportunities for Nigerians.
Themed “Rethinking Capital for Inclusive Economic Transformation,” the lecture explored the mobilisation and effective deployment of long-term finance to strengthen productivity, support businesses and advance sustainable industrial development.
In his opening remarks, BOI’s Managing Director and Chief Executive Officer, Dr Olasupo Olusi, emphasised the need for financing that reaches underserved enterprises and encourages private investment in productive sectors. He highlighted the importance of measuring financing success through its contribution to business growth, employment and wider economic development.
Dr Olusi noted that BOI disbursed ₦645 billion in 2025, supported over 12,000 businesses and impacted 1.68 million jobs. He stressed the need to expand access to long-term capital and use development finance to attract additional private investment.
Improving the Economic Impact of Capital
Delivering the guest lecture, Dr Asad Alam, former World Bank Director and Adjunct Professor at Georgetown University, explained that increasing investment must be accompanied by improvements in how resources are used.
He identified productivity, education, skills, innovation and strong institutions as essential foundations for sustained growth. His presentation also examined how technology and climate-related investment can support economic transformation when backed by effective policies.
Dr Alam stressed that inclusive development should create opportunities across society, with the benefits of growth extending beyond a narrow group of beneficiaries.
Industry Perspectives on Access to Finance
The panel discussion provided perspectives from the Manufacturers Association of Nigeria (MAN), InfraCredit, the Policy Innovation Centre and Flour Mills of Nigeria.
MAN commended BOI’s financing support, highlighting favourable lending terms and loan tenures for manufacturers. Its representative, Mr Adeyemi Folorunsho, encouraged the Bank to widen access to affordable financing and further support investment in manufacturing.
Dr Osasuyi Dirisu, Executive Director of the Policy Innovation Centre, called for greater attention to rural communities and underserved women. Other contributions highlighted the importance of financing costs in improving business productivity and enabling broader participation in the economy.
The Special Adviser to the President on Economic Affairs, Dr Tope Fasua, also emphasised the growing importance of knowledge, information and technology in economic development, while underscoring the continuing need to finance power, logistics and infrastructure.
The 2026 Annual Public Lecture continued BOI’s dialogue on Nigeria’s development priorities. Discussions reinforced the importance of affordable long-term finance, productive investment and wider access to opportunities in advancing the Bank’s mandate for sustainable and inclusive industrial development.