BOI Debuts Impact Report, Records N644.9bn Disbursement, 1.68m Jobs

The Bank of Industry (BOI) has launched the inaugural edition of its Annual Development Impact Report, recording N644.9 billion in disbursement and the creation of 1.68 million jobs.

Speaking at the unveiling in Abuja yesterday, the managing director and chief executive officer of BOI, Dr Olasupo Olusi, described 2025 as a defining 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 BOI to prioritise measurable development outcomes alongside financial performance.

Olusi disclosed that the bank disbursed a total of N644.9 billion to nano, micro, small, medium and large enterprises across Nigeria during the year under review.

He revealed that more than 30 per cent of the financing was channelled to nano, micro, small and medium enterprises (MSMEs), while over 20 per cent supported women- and youth-led businesses, underscoring BOI’s commitment to inclusive economic growth.

According to him, the bank’s interventions generated an estimated 1.68 million jobs. comprising direct, indirect and supported employment across multiple value chains nationwide.

Olusi added that financing was extended across 14 strategic sectors of the economy in line with Nigeria’s industrialisation agenda.

He disclosed that BOI surpassed its 2025 targets across six strategic priorities: infrastructure, MSMEs, digital transformation, youth empowerment, gender inclusion and climate action.

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

Looking ahead, he said BOI would focus on scaling its impact by deepening support for enterprises and value chains capable of creating sustainable jobs, promoting local value addition and strengthening Nigeria’s industrial competitiveness.

The Minister of State for Industry, Trade and Investment, Senator John Enoh, described BOI’s maiden Development Impact Report as a benchmark for transparency and accountability across public institutions.

He commended the report for focusing on measurable development outcomes rather than simply highlighting disbursement figures.

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

She stressed that project preparation remains the critical bridge between national ambition and sustainable investment, noting that investment ideas must be developed into commercially viable transactions to drive economic growth.

Uzoka-Anite said achieving the federal government’s ambition of building a $1 trillion economy under the Renewed Hope Agenda and the National Development Plan (2026–2030) would require disciplined project preparation, strong investment protection mechanisms and the alignment of public resources with national development priorities.

The minister also called on development partners to support feasibility studies and the development of African credit rating systems to lower borrowing costs across the continent.