The Bank of Industry (BOI) revealed plans to contribute approximately 27% of Africa’s renewable power generation by 2030. Dr. Olasupo Olusi, the Managing Director of BOI, outlined the bank’s commitment to supporting environmentally friendly and sustainable projects across key sectors. He highlighted the recent credit line of 100 million euros secured from the French Development Agency (AFD) for expanding green finance in Nigeria.
BOI is actively implementing on-lending financing schemes through local financial institutions to support customers adopting clean energy solutions. Olusi emphasized the need for stronger climate commitments, urging Development Financing Institutes (DFIs) to accelerate progress and increase climate ambition. BOI, as a signatory to leading sustainability frameworks, is dedicated to mobilizing finance for sustainable development.
The bank aims to build a climate-resilient economy by harnessing partnerships, channeling public and private investments into clean and sustainable activities. Olusi emphasized the importance of better coordination among DFIs to ensure a significant impact and achieve economies of scale. BOI, with an extensive partnership network, plans to leverage resources for building a climate-smart Nigeria, having raised over $5 billion from international financial institutions in the last five years.
