Bank of Industry (BOI) was established in 2001 to promote industrial development in Nigeria. It provides financing and business support services to entrepreneurs, especially small and medium enterprises. BOI's key activities include project identification, resource mobilization, financing, and business development support. It offers various products like loans, equity financing, and infrastructure development. BOI also partners with other development institutions and aims to support Nigerian businesses globally. It collaborates with state governments on programs like entrepreneurial training boot camps and establishing industrial parks and matching funds to further promote industrialization and SMEs nationwide.

1. PRODUCTS AND SERVICES
OF
BANK OF INDUSTRY (BOI)
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2. Background
•BOI was established in October, 2001 following the reconstruction
of the Nigerian Industrial Development Bank (NIDB) by subsuming
the mandates of NBCI and NERFUND. NIDB had been in existence
since 1964 as one of the oldest DFIs in Nigeria, and Africa.
•In pursuance of its vision to become a world class and self-
sustaining National Development Finance Institution, a consultancy
firm was commissioned in 2004 to undertake an Institutional and
Management Study of the bank, which resulted in the restructuring
of its erstwhile Management to its present status to allow for
efficiency in driving the Bank’s business.
•BOI is largely a state owned DFI charged with the responsibility of
promoting the emergence of a virile industrial sector. In other words,
BOI was conceived to catalyze the transformation of the real sector.
Its mandate is to provide financing and business support services to
entrepreneurs especially SMEs with strong potentials for
employment generation and exports. The Bank is to act as a driver in
the development of SME sector in Nigeria on a sustainable basis.2

3. BOI’s Ownership
•Shareholders
»99.9% of Equity held by the Federal Government through:
Ministry of Finance Incorporated (MOFI) 59.54%
Central Bank of Nigeria (CBN) 40.36%
Equity held by 42 private Shareholders 0.10%
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100.00%
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4. •At BOI, there is clear delineation of separate and distinct roles for
the owners, the Board and the Management, as well as clarification
of the powers of the Board, those delegated to Management and
the results and accountability it expects from the Management.
BOI fully complied with the requirements of the Companies and
Allied Matters Act (CAMA) in its operations and reporting
through;
-maintenance of proper accounting records,
-applicable accounting standards are followed,
-suitable accounting policies are adopted and consistently
applied
•Internal control procedures are instituted as far as is reasonably
possible, safeguard assets and prevent and detect fraud or other
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irregularities

5. BOI’s VISION
To be a leading self-sustaining
Development Finance Institution,
operating under sound management and
banking principles, that would promote
the emergence and development of a virile
competitive industrial sector in Nigeria.
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6. BOI’s MISSION
•To transform Nigeria’s industrial sector and integrate it
into the global economy by providing financial and
business support services to existing and new industries
to attain modern capabilities to produce goods that are
competitive in both domestic and external markets.
BOI Core Activities
•Project Identification and Selection
• Resource Mobilization
• Financing (Long Term, Short Term and Equity)
• Industrial Policy Formulation
• Business Development Support 6

7. BOI Products and Services
•Primarily, BOI aims to support business through the provision of
the following support programs:
•Providing financing for the support of entrepreneurs through the
provision of direct loans, guarantee support etc
•Providing financial advisory services to entrepreneurs
•Acting as intermediates between entrepreneurs and both local and
international financial institutions assisting businesses access
financing from these institutions.
•Collaboration with other development institutions particularly
national, public and private sector multilateral and bilateral
agencies.
•A host of other complimentary services rendered by BOI’s 7

8. BOI Specific Services are;
• Equity Financing
• Co-Financing/Syndication
•Infrastructure Development/Industrial Parks
•Structured Lending
•International Operations/Trade Services
• Management of specialised Funds
•Other complimentary services rendered by BOI’s
subsidiaries: Leasing, Trustees, Insurance, Consultancy, 8
Micro Finance Bank and Bureau De Change.

9. OTHER ROLES OF BOI
• Establishment of global partnership in support of the
industrialization of Nigeria in conjunction with other
development partners.
• BOI has working relationship with the following; - DBJ,
JBIC, JICA, JASME amongst others.
• Also have MOUs/Working Relationships with the World
Bank Group, African Development Bank Group, IDB,
IDC, TICAD/UNDP, UNIDO, etc.
• Structuring of schemes of financial partnership (M&A,
JVs, PPP, portfolio investment, ventures capital, leasing,
etc) between Nigerian and foreign companies. 9

10. • In its bid to further cascade its operations to Micro,
Small and Medium Enterprises (MSMEs), BOI recently
established a Micro Finance Bank and also introduce
lending to cooperatives. The cooperatives comprises,
mainly, those that attended the Entrepreneurial
development workshops (Boot Camps) which the bank
has been organizing in conjunction with the Commerce
Department of the United State of America in some
states of the federation. The Industrial/Entrepreneurial
Development Program has continued to receive the
Bank’s attention. The Bank similarly encourages state
governments to establish MSME funding schemes
under which BOI and state governments contribute in
equal proportion solely for the industrial development
of their respective states. 10

11. • In order to reduce the operating expenses of MSMEs, decrease the
hardships posed by infrastructural challenges and thereby enhance their
viability as well as competitiveness, BOI is encouraging state
governments to build industrial parks in collaboration with their
commercial banker and development partners. Under the scheme,
MSMEs are to be allotted rented spaces in clusters in the industrial parks
that would be provided with some infrastructural facilities as roads,
electricity, water, telecommunications services and security.
• Towards attaining the Millennium Development Goals (MDG) ,the bank
also organized workshop on Women Entrepreneurship Development and
Access to Finance in collaboration with Women Affairs Ministry and
House of Representatives Committee on Women Affairs and as well first
Ladies of some States. The bank also have a Gender Desk handling
various loan schemes exclusively for women enterprises in conjunction
with the Federal Ministry of Women Affairs amongst others. 11

12. PROPOSED AREAS OF COLLABORATION
-BOOTH CAMP TRAINING PROGRAMME
The features of the Training Programme are as follows:
• It is a capacity building programme for various levels of entrepreneurs.
The training will expose participants to how to manage their day to day
businesses.
• It involves training on how to package a business and also the art of
writing feasibility reports/business plans.
• The training will also expose the participants to BOI products and how to
access them.
• The training workshop is also going to be used to showcase resources
unique to the state through exhibitions and cultural displays.
• The training so far has been done in eleven states namely: Osun, Ondo,
Ekiti, Anambra, Bauchi, Gombe, Niger, Delta, Cross River, Enugu and
Benue. 12

13. Requirement for organisation of the training:
• The training is going to cost BOI N20.0 million to
organize for a minimum of 250-300 enterpreneurs.
• Resource persons to be used are intellectual
personalities to be brought in from abroad and within
the country.
• BOI will bear N12.0 million of the total cost while the
State is expected to come up with the balance of N8.0
million. The State, in addition to the payment of the
N8.0 million will be expected to provide accomodation
for at least 10 persons. 13

14. MATCHING FUND
• The essence of the fund is to empower
entrepreneurs in the state. BOI will match
whatever amount the State Government is
willing to put down. The key areas for which the
fund will be utilized include the following:
– Cooperative Funding:
The fund will be used to finance mostly cooperatives
utilizing local resources in each local government
area. The collateral security that will be required
under the scheme is relaxed. Participants will just be
required to contribute 10% of the borrowed fund as
collateral deposit.
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15. – SME Financing: This will involve provision of
plant and machinery, retooling etc of SMEs.
– Rehabilitation and resuscitation of industries.
– Finance of clusters and industrial parks.
– Special Projects.
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16. • Memorandum of Understanding (MOU) spelling out the roles and
responsibilities of the two parties will be drawn up and signed. The
MOU will also state the terms and conditions of the fund. Other
features of the matching fund are as follows:
• Interest rate for the loan is 10% per annum.
• BOI will appraise the would be beneficiaries; grant approval and
recover the loan.
• Quarterly accounts will be rendered to the State Government.
• The State Government will have to make available a staff to liaise
with BOI to ensure the success of the scheme.
• A letter containing list of projects approved, amount approved,
location and status will be forwarded to the State Government on a
monthly basis. 16

17. CONCLUSION
Based on the foregoing, BOI
will be delighted to partner with
the State Government to foster
economic growth and assist in
alleviating poverty in the state.
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18. BOI NETWORK
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19. THANK YOU AND GOD
BLESS
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