BOI Disburses ₦644.9bn in 2025, Supports 1.68 Million Jobs

The Bank of Industry (BOI) disbursed a record ₦644.9 billion to businesses across Nigeria in 2025, supporting an estimated 1.68 million jobs as the development finance institution intensifies efforts to promote industrial growth, entrepreneurship and employment.

The amount represents a 26 per cent increase from the ₦510.9 billion disbursed in 2024, according to the bank’s Managing Director and Chief Executive Officer, Olasupo Olusi.

Olusi disclosed the figures during a meeting with business editors in Lagos, where he reviewed the bank’s performance under its 2025–2027 corporate strategy.

According to him, the financing reached 12,501 businesses across different sectors, reinforcing the bank’s commitment to expanding access to capital and supporting productive enterprises.

MSMEs Receive 41% of BOI’s Funding

Micro, small and medium-sized enterprises (MSMEs) accounted for 41 per cent of the bank’s total funding in 2025, exceeding its target of 35 per cent.

The bank’s lending activities are structured to support businesses at different stages of development, from nano enterprises to large-scale industrial operators.

Women-owned businesses received ₦120.9 billion during the period, while women-focused and youth-focused businesses each accounted for 20 per cent of the bank’s funding, according to Olusi.

The figures reflect BOI’s efforts to improve access to finance for entrepreneurs and business owners who often face difficulties securing affordable long-term funding.

Infrastructure Financing Exceeds ₦108bn

Beyond business lending, BOI deployed more than ₦108 billion to infrastructure-related projects in 2025, with investments targeting critical areas needed to improve economic productivity.

The bank financed 100 mini-grids that connected 11,777 households and businesses to electricity, helping expand access to power in underserved communities.

It also highlighted its investments in broadband connectivity, power infrastructure and other projects designed to strengthen the operating environment for businesses.

Reliable electricity, improved digital connectivity and efficient infrastructure remain important to reducing operating costs, improving productivity and attracting private investment.

Bank Expands Funding for Manufacturing and Industry

Manufacturing and infrastructure remain central to BOI’s lending strategy, as the bank seeks to channel more capital into sectors capable of increasing domestic production and creating employment.

Olusi said 80 per cent of the bank’s lending to large enterprises now goes to manufacturing and infrastructure.

The institution has also organised its lending activities around 15 priority sectors grouped into five divisions: agro-manufacturing, other manufacturing, infrastructure, extractive industries and services. Information and communications technology has been added as a priority area.

The approach is intended to strengthen local value chains, support industrial development and improve Nigeria’s capacity to produce goods and services domestically.

BOI Raises New Capital to Support Businesses

To sustain its lending activities, the bank has continued to mobilise long-term financing from domestic and international sources.

Its funding transactions include a €1.879 billion syndicated facility secured in 2024, €210 million from international development partners in 2025 and a ₦250 billion development bond issued in 2026.

The bank also secured €85 million from the European Investment Bank for agriculture and an additional €50 million for healthcare manufacturing.

According to Olusi, the funds will help BOI expand financing for Nigerian businesses, support industrial production and strengthen key sectors of the economy.

Government Intervention Reaches Millions of Beneficiaries

BOI also reported progress in implementing the Federal Government’s ₦200 billion intervention programme aimed at supporting businesses and industrial development.

The bank said it had delivered more than 95 per cent of the intervention, reaching 957,400 grant beneficiaries, 9,000 MSMEs and 104 large manufacturers.

Through its Rural Area Programme on Investment for Development (RAPID), the institution disbursed ₦6.5 billion to 880 rural enterprises across Nigeria’s 36 states and the Federal Capital Territory, supporting more than 8,000 jobs.

These initiatives are intended to extend financing beyond major commercial centres and improve economic opportunities for rural businesses and entrepreneurs.

BOI Targets Greater Impact in 2026 and 2027

The bank is currently implementing its 2025–2027 corporate strategy, which aims to double its loan book, disbursements and development impact instruments within three years.

Olusi said 2025 served as the foundation year for the strategy, while 2026 would focus on expanding implementation and 2027 on consolidating results.

The bank is also collaborating with the Federal Ministry of Industry, Trade and Investment on the proposed National Industrial Finance Compact to attract additional long-term capital into Nigeria’s industrial sector.

Other priorities include deploying new European Investment Bank facilities to agriculture and local healthcare manufacturing, as well as expanding financing for information technology and digital businesses through the Investment in Digital and Creative Enterprises (iDICE) programme.

Olusi said the bank expects its development impact to exceed the 2025 performance as it continues implementing its strategic priorities.

Outlook

BOI’s ₦644.9 billion disbursement in 2025 highlights the growing role of development finance in supporting Nigerian enterprises, industrial production and employment.

However, sustaining these gains will depend on businesses’ ability to deploy financing productively, manage rising operating costs and expand their operations in a challenging economic environment.

For Nigeria, increased access to long-term finance could help strengthen local manufacturing, support small businesses and improve job opportunities, provided that funding translates into sustainable business growth and measurable economic outcomes.