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…Says 30% of financing went to MSMEs
The Bank of Industry (BOI) has unveiled its first Annual Development Impact Report, disclosing that it disbursed N644.9 billion to businesses in 2025 and supported an estimated 1.68 million jobs across Nigeria.
The report, launched in Abuja recently, marks a shift in the bank’s approach from measuring success solely by the volume of loans disbursed to assessing the socio-economic impact of its interventions.
Speaking at the unveiling, the Managing Director and Chief Executive Officer of BOI, Olasupo Olusi, described 2025 as a landmark year for the development finance institution, noting that it was the first full year of implementing the bank’s 2025–2027 Corporate Strategy.
According to him, the strategy repositioned the bank to focus not only on lending but also on delivering measurable development outcomes.
Olusi said BOI disbursed N644.9 billion to nano, micro, small, medium and large enterprises during the year, with more than 30 per cent of the funding going to micro, small and medium enterprises (MSMEs).
He added that over 20 per cent of the financing supported women- and youth-led businesses as part of the bank’s commitment to inclusive economic growth.
The BOI boss said the bank’s interventions supported an estimated 1.68 million jobs, including direct, indirect and induced employment, while financing projects across 14 strategic sectors of the economy.
“2025 marked a defining moment for BOI. Beyond financing businesses, we deliberately shifted our focus to measuring the real development impact of our interventions.
“Most importantly, our investments translated into tangible outcomes by supporting millions of jobs, reducing carbon emissions, strengthening digital and other critical infrastructure, and empowering women and young entrepreneurs,” Olusi said.
He said BOI exceeded its 2025 targets across six strategic priorities— infrastructure, MSMEs, digital transformation, youth empowerment, gender inclusion and climate action.
According to him, the bank also expanded access to finance, strengthened key value chains and invested in strategic infrastructure to improve productivity and enhance Nigeria’s industrial competitiveness.
Olusi said BOI’s network of 37 offices across 34 states enabled it to extend development finance to businesses in both urban and underserved communities.
He disclosed that the bank achieved more than 95 per cent disbursement performance as the implementing agency for the Federal Government’s N200 billion MSME Industrialisation Fund.
The BOI chief also highlighted new programmes introduced during the year, including the Rural Area Programme on Investment for Development (RAPID), the Guaranteed Loans for Women (GLOW) initiative and the Investment in Digital and Creative Enterprises (iDICE) programme.
He further revealed that the bank financed major infrastructure projects, including more than N35 billion for broadband expansion, N30.6 billion for power infrastructure and over N20 billion for aviation sector upgrades.
According to him, the 2025 Development Impact Report was independently assured by KPMG and the Policy Innovation Centre (PIC), reflecting BOI’s commitment to transparency, accountability and evidence-based development financing.
Looking ahead, Olusi said the bank would deepen support for enterprises and value chains capable of creating sustainable jobs, promoting local value addition and strengthening Nigeria’s industrial competitiveness.
In his remarks, the Minister of State for Industry, Trade and Investment, John Enoh, described BOI’s maiden Development Impact Report as a model for transparency and accountability in public institutions.
He commended the bank for focusing on measurable development outcomes rather than simply reporting loan disbursements.
According to the minister, BOI’s interventions align with President Bola Tinubu’s Renewed Hope Agenda through increased financing for MSMEs, youth-led enterprises, gender inclusion, innovation, climate resilience and technology-driven growth.
Enoh also linked the bank’s activities to the implementation of the Nigerian Industrial Policy launched earlier this year, describing it as a roadmap for industrialisation, job creation and export growth.
He said the ministry would continue working closely with BOI to strengthen industrial clusters, improve MSME competitiveness and support manufacturers through value chain development initiatives.
Also speaking, the Minister of Budget and Economic Planning, Abubakar Atiku Bagudu, represented by the Minister of State, Doris Nkiruka Uzoka-Anite, said Nigeria’s biggest investment challenge was no longer access to capital but the shortage of bankable projects.
She stressed that proper project preparation remained essential to attracting sustainable investment and achieving the Federal Government’s target of building a $1 trillion economy.
Uzoka-Anite urged development finance institutions to promote transparency, adopt global best practices and expand blended finance solutions that would reduce investment risks for MSMEs.
“Investment follows preparation, and preparation thrives on partnership,” she said.
Representatives of development partners, including the African Development Bank, the European Union and Agence Française de Développement, also commended BOI for its growing contribution to Nigeria’s industrialisation and economic transformation.
