The development bank says its financing reached businesses across 14 sectors, with small enterprises, women and young entrepreneurs among the beneficiaries.
The Bank of Industry (BOI) disbursed ₦644.9bn to businesses across Nigeria in 2025, supporting an estimated 1.68 million jobs, its Managing Director and Chief Executive Officer, Dr Olasupo Olusi, has said.
Olusi disclosed the figures during the unveiling of the bank’s inaugural Annual Development Impact Report in Abuja, describing 2025 as a defining year for the institution as it implemented the first full year of its 2025–2027 corporate strategy.
According to the report, the bank’s financing covered nano, micro, small, medium and large enterprises across 14 strategic sectors of the economy.
The interventions were designed to expand access to finance, strengthen industrial production and promote employment generation amid Nigeria’s efforts to diversify its economy.
MSMEs, women and young entrepreneurs benefit
Olusi said more than 30 per cent of the funds disbursed went to micro, small and medium-sized enterprises (MSMEs), while more than 20 per cent supported women- and youth-led businesses.
He said the bank was increasingly focused on measuring the economic and social outcomes of its lending, rather than assessing its performance solely by the volume of money disbursed.
The reported 1.68 million jobs comprise direct, indirect and supported employment across various business activities and value chains nationwide.
The bank also said it exceeded its 2025 targets across six priority areas: infrastructure, MSME development, digital transformation, youth empowerment, gender inclusion and climate action.
Focus on industrial growth
The BOI chief said the bank had introduced programmes to address financing gaps affecting rural businesses, women entrepreneurs and companies operating in the digital and creative industries.
These initiatives include the Rural Area Programme on Investment for Development (RAPID), the Guaranteed Loans for Women (GLOW) programme and the Investment in Digital and Creative Enterprises (iDICE) programme.
The bank also financed infrastructure projects in sectors including broadband, electricity and aviation, which it described as critical to improving productivity and strengthening Nigeria’s industrial competitiveness.
The bank’s nationwide network of offices, according to the report, also helped extend development financing to businesses in underserved communities.
Government welcomes report
The Minister of State for Industry, Trade and Investment, Senator John Enoh, commended the bank’s focus on measurable development outcomes, describing its inaugural impact report as a benchmark for transparency and accountability in public institutions.
Enoh said BOI’s interventions aligned with President Bola Tinubu’s Renewed Hope Agenda, particularly in expanding financing for small businesses, supporting young entrepreneurs and promoting industrial growth.
He also reaffirmed the government’s commitment to working with the bank to strengthen industrial clusters, improve the competitiveness of local businesses and expand opportunities for manufacturers.
Meanwhile, the Minister of State for Budget and Economic Planning, Dr Doris Uzoka-Anite, stressed the importance of preparing commercially viable projects to attract investment and support sustainable economic growth.
She said effective project preparation, investment protection and partnerships would be essential to Nigeria’s ambition of building a $1 trillion economy.
BOI targets greater impact
The bank said it would continue to expand financing for businesses and industries capable of creating sustainable employment, increasing local production and strengthening Nigeria’s economic competitiveness.
The report, which was independently assured by KPMG and the Policy Innovation Centre, represents the bank’s effort to improve transparency and measure the impact of its financing on businesses and communities.
However, the figures reported by BOI represent estimated direct, indirect and supported jobs, rather than necessarily 1.68 million newly created positions.
The bank said its long-term priority was to ensure that financing translated into measurable outcomes, including business expansion, increased productivity and sustainable employment.
