The Bank of Industry (BOI) continues to support Nigerian entrepreneurs with easier access to financing through its digital platform, the iProgrammes Portal. In 2025, the portal has been optimized to help Micro, Small, and Medium Enterprises (MSMEs), women-led businesses, and manufacturing companies access government-backed loans efficiently.

This guide will show you step-by-step how to apply for a BOI loan, including details about the FGN MSME Intervention Fund and the FGN Manufacturing Sector Fund.

What Is the BOI iProgrammes Portal?

The BOI iProgrammes Portal is an online dashboard that helps entrepreneurs:

• Register and apply for BOI loans
• Upload all required documents
• Track loan application status
• Access specialized programs for MSMEs, women, youth, digital, green, and manufacturing sectors
• Receive alerts on loan availability and application updates

It is designed to make the loan application process simple, fast, and transparent.

Step-by-Step: How to Apply for a BOI Loan

1. Create an Account

1. Visit the BOI iProgrammes dashboard.
2. Click “Register” and provide your personal and business details.
3. Verify your email and log in to your new account.

Tip: Use the same email and phone number that match your business documentation.

2. Complete Your Profile

A complete and accurate profile increases your chances of approval. Include:

• Business name and registration number
• Business type (MSME, manufacturing, agriculture, tech, etc.)
• Bank account details
• Business address
• Tax identification information

3. Choose the Right Loan Program

FGN MSME Intervention Fund

• Total Fund: ₦75,000,000,000 (Seventy-Five Billion Naira)
• Target: Micro, Small, and Medium Enterprises (MSMEs)
• Maximum Loan per Beneficiary: ₦1,000,000 (One Million Naira)
• Interest Rate: 9% all-inclusive per annum
• Tenor: 3 years (for equipment and working capital)
• Purpose: Cushion against high costs of production, marketing, and distribution due to infrastructure and other challenges

FGN Manufacturing Sector Fund

• Total Fund: ₦75,000,000,000 (Seventy-Five Billion Naira)
• Target: Eligible manufacturing companies
• Maximum Loan per Beneficiary: ₦1,000,000,000 (One Billion Naira)
• Interest Rate: 9% all-inclusive per annum
• Tenor: 5 years for term loans, 1 year for working capital
• Purpose: Cushion against high costs of production, marketing, and distribution caused by infrastructural deficiencies

Tip: Make sure your business qualifies for the fund before applying.

4. Prepare Required Documents

Typical requirements include:

• CAC registration documents
• Valid ID (NIN, International Passport, Voter’s Card, or Driver’s License)
• Passport photograph
• Business plan or feasibility study
• Bank statements (6–12 months)
• Proof of business address
• Financial projections
• Collateral documents (if applicable)

Tip: Scan and upload clear, legible copies.

5. Submit Your Loan Application

1. Select the fund program you’re applying for (MSME or Manufacturing).
2. Fill in your loan details: amount, purpose, and repayment plan.
3. Upload all required documents.
4. Review your application carefully.
5. Submit your application.

You will immediately receive a confirmation notification.

6. Track Your Application

The portal allows you to monitor progress, including stages like:

• Application Submitted
• Under Review
• Document Verification
• Interview/Inspection
• Approved
• Disbursed

Check your dashboard and email for updates.

7. Attend Required Interviews or Inspections

BOI may conduct:

• Site inspections
• Online or in-person interviews
• Verification of submitted documents

These steps ensure proper use of funds.

8. Loan Approval & Disbursement

Once approved:

• You’ll receive an offer letter detailing interest rates, tenor, and repayment schedule.
• Accept the terms to receive the fund in your business account.
• Use the funds strictly for business activities to ensure smooth repayment.

Tips to Improve Approval Chances

• Prepare a clear, realistic business plan
• Maintain accurate financial records
• Ensure documentation matches official records
• Demonstrate how the loan will grow your business
• Keep CAC and tax records updated
• Use a corporate account for business transactions

Why the iProgrammes Portal Is Transformative in 2025

• Faster loan application processing
• Transparent approval process
• Access to multiple government-backed funds
• Support for MSMEs, women, youth, and manufacturing businesses
• Helps reduce paperwork and long queues at BOI offices

Conclusion

The iProgrammes Portal is your gateway to accessing BOI loans in 2025, including the FGN MSME Intervention Fund and FGN Manufacturing Sector Fund. By following this guide, you can navigate the application process easily and access the funds needed to grow your business, expand operations, and overcome high production costs.