Bank of Industry (BoI) has disclosed that it deployed N645 billion in strategic financing to de-risk critical sectors of the economy, creating 1.68 million jobs in 2025.
The interventions also financed 12,501 businesses and 1,615 start-ups while 950, 362 businesses benefitted from grants.
BoI disclosed the milestones in its inaugural Annual Development Impact Report unveiled yesterday in Abuja.
Minister of State for Industry, John Enoh, Minister of Budget and Economic Planning, Abubakar Bagudu, and other stakeholders hailed the development finance institution headed by Dr. Olasupo Olusi, for its positive impact on the economy.
BoI stated that the disbursements helped to bridge the long-standing gap between government policy objectives and actual industrial expansion.
The report indicated that the development finance institution moved beyond conventional lending to become a major catalyst for industrial transformation.
Against the backdrop of improved macroeconomic conditions and real GDP growth of 3.98 per cent in the review period, BoI said its interventions accelerated structural transformation by unlocking investments across manufacturing, agriculture, infrastructure, technology, renewable energy and logistics while promoting inclusive growth.
The report stated that rather than merely financing businesses, the bank deliberately targeted high-impact sectors capable of stimulating domestic production, strengthening local value chains, improving competitiveness and expanding productive capacity.
It stated that the manufacturing sector, which contributes about 30 per cent of national output, benefited significantly from the bank’s intervention as financing helped reduce investment risks, unlocked private capital and translated policy ambitions into tangible industrial growth.
Overall, BoI stated that 7,078 businesses benefitted from its disbursements nationwide, with 59 per cent of the portfolio supporting large enterprises while 41per cent went to Micro, Small and Medium-scale Enterprises (MSMEs), ensuring broad-based participation across all 36 states and the Federal Capital Territory (FCT).
The bank said the interventions reflected its strategic shift from measuring success by the volume of loans approved to assessing development outcomes through job creation, industrial capacity expansion, gender inclusion and environmental sustainability.
Enoh noted that BoI performance has become a benchmark for public sector excellence.
The minister said unlike conventional reports that focused mainly on financial figures, the BoI report demonstrated the real impact of development finance through businesses supported, jobs created, livelihoods improved, and stronger industrial value chains.
He pointed out that the bank has improved financing for MSMEs, promoting youth entrepreneurship, advancing gender inclusion, and supporting technology-driven businesses.
Likewise, Bagudu commended BoI for institutionalising an annual impact reporting framework.
Represented by Minister of State, Dr. Doris Uzoka-Anite, Bagudu said the bank was increasingly positioning itself as an architect of the country’s investment ecosystem through stronger governance, transparency, and innovative financing structures capable of attracting private capital.
In his remarks, Managing Director/Chief Executive, BoI, Dr. Olasupo Olusi, said 2025 marked a defining year for the institution as it deliberately shifted from measuring financing volumes to evaluating development.
According to him, the implementation of the bank’s 2025-2027 Corporate Strategy laid the foundation for stronger industrial development through expanded access to finance, stronger value chains, and infrastructure investments that enhanced productivity and competitiveness.