President Bola Tinubu has praised the Bank of Industry (BOI) for disbursing N636 billion to businesses in 2025, describing it as the highest annual financing volume in the bank’s history.
In a statement issued Thursday by his Special Adviser on Information and Strategy, Bayo Onanuga, the President said the achievement reflects the success of his administration’s economic reform programme. He noted that the record funding demonstrates how ongoing macroeconomic reforms are strengthening development finance institutions and unlocking capital for key productive sectors.
According to Tinubu, the N636 billion disbursed has significantly boosted Nigeria’s productive capacity. The funds supported agro-processing expansion, increased manufacturing output, enhanced infrastructure delivery, and empowered thousands of enterprises nationwide.
A sectoral breakdown shows that agro-allied businesses received the largest portion at N202 billion. Infrastructure projects—including broadband, power, aviation, and transportation—secured N100 billion, while manufacturing received N79 billion. Extractive industries obtained N77 billion, and the services sector accessed N55 billion. Additionally, N73 billion was deployed through managed and matching funds in collaboration with state governments and institutional partners.
More than 7,000 enterprises benefited from the financing. Large businesses received N375 billion, small and medium-sized enterprises (SMEs) obtained N178 billion, nano enterprises accessed N51 billion, and micro businesses received N32 billion.
The bank’s activities reportedly led to the creation and retention of about 1.6 million jobs, while supporting over 7,000 MSMEs and 570 startups. Under the Federal Government’s N200 billion MSME intervention scheme, BOI achieved over 95 percent performance as the disbursing institution. The Presidential Conditional Grant Scheme reached 957,400 beneficiaries in 2025.
Inclusive financing efforts also gained momentum. Through the N10 billion Guaranteed Loans for Women Programme, which offers up to N50 million per beneficiary, women-owned businesses expanded access to affordable credit. Youth-led enterprises secured N12 billion in financing. Meanwhile, 880 rural enterprises across the 36 states and the FCT accessed more than N6.5 billion under the Rural Area Programme on Investment for Development.
Strategic interventions included expanding a tomato processing plant’s capacity from 3.1 to 10 metric tonnes per hour and integrating 47,508 smallholder farmers into formal value chains. In partnership with global development finance institutions, BOI also supported the deployment of 100 mini-grids, connecting 11,777 new customers to electricity and contributing to an estimated annual reduction of over 20,000 tonnes of carbon emissions.
Through the Investment in Digital and Creative Enterprises initiative, 500 entrepreneurs were prepared for investment, 100 tech startups received funding, and 400 youths underwent innovation training programmes targeting more than 300,000 Nigerians.
Despite macroeconomic challenges, BOI maintained strong asset quality, recording a non-performing loan ratio below 1.5 percent. The bank also strengthened its lending capacity by securing a €2 billion syndicated facility in 2024 and an additional €210 million from international partners in 2025.
President Tinubu emphasized that development finance must remain disciplined, measurable, and aligned with national priorities. He described BOI’s progress as a shift from planning to large-scale implementation and reaffirmed his administration’s commitment to driving industrialisation, value addition, and enterprise growth.
He also welcomed BOI’s designation as Nigeria’s first National Implementing Entity to the United Nations Adaptation Fund, noting that the recognition enhances the country’s global development finance standing.
The President reiterated his commitment to consolidating economic reforms and expanding access to credit as part of a long-term strategy for inclusive growth and national transformation.
