The Federal Government of Nigeria has announced the commencement of applications for the Guaranteed Loans for Women (GLOW) Fund, a ₦10 billion initiative established by the Bank of Industry (BOI) to support women-owned and women-led businesses across the country.
The scheme aims to boost financial inclusion for women entrepreneurs by providing accessible, low-interest loans with flexible repayment terms and reduced collateral requirements.
Speaking during the official launch, BOI Managing Director, Olasupo Olusi, highlighted that the initiative is designed to close the financing gap that limits women’s participation in the Nigerian economy.
“Women entrepreneurs drive innovation, create jobs, and strengthen communities. However, financing remains one of their biggest challenges,” Olusi said. “Our goal is to simplify access to funding, build stronger business networks, and promote sustainable growth.”
According to BOI, Nigeria currently ranks among the top countries in women’s entrepreneurial activity, with over 23 million female entrepreneurs—representing about 41% of the nation’s micro-businesses.
The GLOW Fund forms part of BOI’s 2025–2027 strategic plan focused on gender-responsive financial inclusion and targeted interventions to empower women-led enterprises.
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Under the programme, eligible women entrepreneurs with registered businesses in Nigeria can apply for guaranteed loans to expand their operations.
In addition to financial support, successful applicants will receive mentorship, business advisory services, and visibility opportunities within BOI’s enterprise ecosystem.
Loan amounts and repayment plans will vary according to business size and capacity, with all funding disbursed directly to approved beneficiaries.
Interested applicants are required to submit their applications through the official BOI portal — www.boi.ng.
Applicants must provide verifiable business documentation, evidence of growth potential, and a commitment to using the funds strictly for business expansion.
Successful beneficiaries will enjoy:
- Simplified access to business credit
- Reduced collateral requirements
- Business mentorship and capacity development
- Inclusion in BOI’s national women-in-business network
In a related effort to strengthen women’s economic participation, the BOI recently granted United Bank for Africa (UBA) Plc a ₦5 billion facility under the Federal Government’s MSME Fund.
The partnership aims to support women-led micro, small, and medium-sized enterprises (MSMEs) across key sectors including green energy, education, and healthcare.
The GLOW Fund and similar initiatives reflect the government’s broader agenda to empower women entrepreneurs, promote inclusive economic growth, and create sustainable jobs nationwide.
For more details and to apply, visit www.boi.ng.
