BOI Highlights Affordable Financing for Business Expansion at Abuja Trade Fair
ABUJA — October 6, 2026
The Bank of Industry (BOI) has reiterated its commitment to supporting the expansion of existing businesses through accessible and competitive financing, with particular emphasis on enterprises capable of driving job creation, local production and economic growth.
The bank made this known during its participation in the ongoing 21st Abuja International Trade Fair (AITF), organised by the Abuja Chamber of Commerce and Industry (ACCI), where exhibitors, manufacturers and other businesses are being exposed to financing and investment opportunities.
Speaking during a business engagement at the trade fair, a BOI representative, Mr Abdulahi Yusuf, said the bank, as a Development Finance Institution (DFI), is primarily focused on supporting established businesses with viable expansion plans.
Mr Yusuf explained that BOI’s interventions are designed to provide businesses with the resources and working capital needed to strengthen their operations, increase production and expand their capacity.
He said manufacturing remains a major area of focus for the bank because of the sector’s potential to create employment, promote import substitution and strengthen Nigeria’s domestic production base.
“BOI specifically targets business expansion rather than providing funding for startups,” Yusuf said.
Mr Yusuf disclosed that BOI provides financing at competitive interest rates, with the highest rate cited during the engagement at 13.5 per cent.
He noted that the bank’s assessment of applicants goes beyond profitability, stressing that the potential contribution of a business to employment generation, local production and the wider economy is also considered.
According to him, the approach is aimed at ensuring that BOI financing reaches productive enterprises capable of generating sustainable economic value.
The BOI representative also disclosed that the bank has introduced a new online portal to simplify the process of accessing its financing and other services.
He said the portal became operational on October 2, 2026, enabling prospective applicants to commence their registration remotely.
According to Mr Yusuf, businesses with the required documentation can complete the initial registration process within approximately 30 minutes to one hour.
He added that applicants requiring physical assistance can visit BOI offices across the 36 states of the federation, while businesses in Abuja can access support at the bank’s Central Area and Garki offices.
While manufacturing remains a key priority, Mr Yusuf said BOI’s financing interventions extend to other productive sectors with the potential to contribute significantly to economic development.
He identified the creative industry, including film and content production, as well as emerging sectors such as electric vehicle technology, among areas that businesses can explore for possible financing support.
He explained that the bank’s broader objective is to support enterprises that can generate employment, strengthen local production and improve Nigeria’s capacity to compete in domestic and international markets.
BOI’s participation in the 21st Abuja International Trade Fair provides exhibitors and other established businesses with an opportunity to engage directly with the development finance institution and gain a better understanding of available financing options.
The engagement further highlights the role of the AITF as a platform for connecting businesses with finance, markets, investors and institutions that can support private-sector growth and expansion.
What Investors Need to Know
Established businesses: BOI’s major focus is on existing businesses seeking to expand their operations.
Competitive financing: Interest rates of up to 13.5 per cent were cited during the engagement.
Digital application: Businesses can initiate the application process through BOI’s online portal.
Sector opportunities: Financing support extends beyond manufacturing to areas such as creative industries and emerging technologies.
Business impact: Employment generation, local production and broader economic contribution are among factors considered in assessing businesses for support
Edited by:Rosmery Aiyenale
