BOI funds 14 sectors with N644.9bn, creates 1.68m jobs

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Bank of Industry

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By Progress Godfrey

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ABUJA – The Bank of Industry (BOI) says it disbursed N644.9 billion to 14 industrial sectors across Nigeria in 2025, generating a development impact of 1.68 million direct and indirect jobs.

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The interventions, contained in its 2025 Annual Development Impact Report unveiled in Abuja on Thursday, targeted nano, micro, small, medium and large enterprises to strengthen national productivity. More than 30 per cent of the funding went to Nano and Micro, Small and Medium Enterprises (MSMEs), while youth and gender-focused businesses received over 20 per cent of the total disbursements.

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The 14 sectors, according to the report, included Agro-Processing, food processing, engineering & technology, beverages, pharmaceuticals, transport & logistics and power & utilities. Others included hospitality & tourism, creative & digital, oil & gas, climate Finance & sustainability, mining & metals, chemicals & industrial minerals and healthcare.

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Managing Director and Chief Executive Officer of BOI, Dr. Olasupo Olusi, stated that the year marked a deliberate shift from tracking disbursement volumes to measuring actual developmental outcomes.

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Operating through 37 offices across 34 states, the bank said it exceeded its 2025 thematic targets across infrastructure, MSMEs, digital, youth, gender, and climate, achieving a 95 per cent disbursement rate under the federal government’s N200 billion MSME Industrialisation Fund.

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Olusi said special interventions during the period included the launch of the Rural Area Programme on Investment for Development (RAPID) across all local governments and the Guaranteed Loan for Women (GLOW) scheme. According to him, strategic infrastructure funding comprised N35 billion for broadband rollout to major telecom operators, N30.6 billion for power infrastructure, and over N20 billion for critical upgrades within the aviation sector.

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“The year 2025 marked a defining moment for the Bank of Industry. It was the first full year of executing our 2025-2027 Corporate Strategy and the year in which we deliberately shifted the conversation from how much we disburse to how much development we enable.

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“Our priority in the coming year is clear. to scale impact. We will deepen our support for enterprises and value chains that create jobs, add value locally, and strengthen Nigeria’s industrial competitiveness,” he said.

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The MD added that the bank has institutionalised its Development Impact Framework to enhance precision in tracking future outcomes. This framework, he said, sets the stage for expanded interventions in 2026, maintaining strict alignment with the federal government’s economic aspirations.

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Chairman of the Board of Directors, Mansur Muhtar, emphasised that disciplined and purpose-driven development finance remains vital as Nigeria undergoes major economic reforms. He said the bank currently maintains active business relationships with over 60 per cent of the top 100 capitalised companies on the Nigerian Stock Exchange, representing 96 per cent of the group’s total market capitalisation.

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Muhtar said the board focused its oversight on aligning operations with the Medium-Term National Development Plan and the Renewed Hope Agenda, especially as the Central Bank steps back from direct development interventions.

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He said: “At a time when the Central Bank has appropriately stepped back from direct development financing interventions, BOI now occupies a pivotal space within Nigeria’s development finance architecture. The responsibility to channel long-term capital into the real sector with clarity of purpose, strong governance, and measurable developmental intent rests squarely with the Bank.”

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He added that the board will maintain strong risk discipline, as the bank supports financing that advances Nigeria’s industrialisation and enterprise development.

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