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.