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BOI Secures Landmark €1.425 Billion Loan to Enhance Business Financing in Nigeria

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The Bank of Industry (BOI) has successfully secured a historic €1.425 billion through the senior phase of its global loan syndication, aimed at boosting financing for Nigerian businesses.
This deal, which saw a 42.5 percent oversubscription from international financial markets, solidifies BOI’s role as a major player in supporting Nigeria’s industrial and private sectors.
Previously, the largest loan syndications by BOI were €1 billion each in 2020 and 2022, both of which were repaid in July 2024.
Olasupo Olusi, BOI’s Managing Director and CEO, stated that the recent loan syndication represents a strong endorsement from foreign investors of both BOI and Nigeria’s economic outlook.
The lenders include Global Coordinators such as Africa Finance Corporation and Standard Chartered Bank, Facility Agent Africa Export-Import Bank, and various Initial Mandated Lead Arrangers and Bookrunners, along with numerous financial institutions from Africa, Europe, and the Middle East.
Olusi emphasized that this syndicated loan will play a crucial role in meeting the increasing demand for affordable, long-term financing for Nigeria’s private sector.
“This milestone reflects our commitment to fostering sustainable industrialization in Nigeria. The transaction started with a €1 billion launch and an option for an additional €1 billion. The senior phase has been oversubscribed by 42.5 percent, and we are hopeful for a favorable outcome as the general phase progresses,” he said.

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