BOI disbursed N644.9bn in 2025, says 20% went to women, youth-owned businesses

The Bank of Industry (BOI) has disclosed that it disbursed N644.9 billion to businesses in 2025, with 20 per cent of the funding directed to women- and youth-led enterprises as part of efforts to promote inclusive economic growth.

The bank said the interventions supported approximately 1.68 million jobs across various sectors of the economy.

Managing Director and Chief Executive Officer of BOI, Olasupo Olusi, made the disclosure on Thursday in Abuja during the unveiling of the bank’s maiden Development Impact Report.

According to Olusi, 30 per cent of the total disbursement was channelled to nano, micro, small and medium-sized enterprises (MSMEs), reflecting the institution’s commitment to supporting small businesses and driving industrial development.

He described 2025 as a landmark year for the bank, noting that it was the first full year of implementing BOI’s 2025–2027 Corporate Strategy, with greater emphasis on measuring the developmental impact of its interventions rather than focusing solely on loan disbursements.

“2025 marked a defining moment for BOI. Beyond financing businesses, we deliberately shifted our focus to measuring the real development impact of our interventions,” Olusi said.

“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.”

He explained that the bank deliberately structured its financing to stimulate inclusive growth across 14 priority sectors in line with Nigeria’s industrialisation agenda.

Olusi also disclosed that BOI achieved a 95 per cent disbursement rate as the implementing agency for the Federal Government’s N200 billion MSME Industrialisation Fund.

To address financing gaps, he said the bank introduced several intervention programmes 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.

The BOI boss further revealed that the bank financed major infrastructure projects, committing N35 billion to broadband expansion, N30.6 billion to power infrastructure and over N20 billion to the aviation sector.

He added that the Development Impact Report underwent independent assurance by KPMG and the Policy Innovation Centre (PIC) to strengthen transparency and credibility.

Speaking at the event, the Minister of State for Industry, Trade and Investment, John Enoh, commended the bank for shifting attention from disbursement figures to measurable development outcomes.

He described the report as a model of transparency and accountability for public institutions, adding that BOI’s interventions complement President Bola Tinubu’s Renewed Hope Agenda and the Nigerian Industrial Policy launched in February 2026.

Enoh also disclosed that the Federal Government was making progress towards establishing a proposed $350 billion MSME Development Fund while noting that 121 Nigerian companies had recently received African Quality Marks to enhance their competitiveness under the African Continental Free Trade Area (AfCFTA).

Also speaking, the Minister of Budget and Economic Planning, Abubakar Atiku Bagudu, represented by the Minister of State for Budget and Economic Planning, Doris Uzoka-Anite, said Nigeria’s major investment challenge was no longer the availability of capital but the shortage of well-prepared, bankable projects.

According to him, achieving the Federal Government’s target of building a $1 trillion economy under the National Development Plan (2026–2030) would require stronger project preparation, effective investment protection mechanisms and greater collaboration among stakeholders.

He urged development finance institutions, including the BOI, to continue adopting international best practices and utilise blended finance models capable of reducing investment risks, particularly for small and medium-sized enterprises.