If you are very young, both of you, he might mean it but doesn’t have the confidence to walk away from his friends and be with a girl.
But if he is an older guy, there is no excuse if he says he loves you but spends all his time with his friends.
Don’t waste your time on such a selfish guy. It doesn’t look like he is willing to change for you. He might just be saying he “loves” you as a friend.