BoI disbursed N644.9bn, created 1.68m jobs in 2025 –MD

Managing Director and Chief Executive Officer of BOI, Olasupo Olusi. Photo credit: BOI

The Bank of Industry disbursed a record N644.9bn to businesses across diverse sectors in 2025, a 26 per cent increase on the N510.9bn it released in 2024, and created or supported 1.68 million jobs.

 The Managing Director/Chief Executive Officer of BoI, Mr Olasupo Olusi, disclosed this on Thursday at a media roundtable with business editors in Lagos.

 Olusi said, “In 2025, we disbursed N644.9bn, the highest amount ever by the Bank.”

 The funds reached 12,501 businesses. Large enterprises accounted for 59 per cent of the total, small and medium enterprises 29 per cent, nano businesses seven per cent, and micro businesses five per cent, according to the bank’s 2025 Annual Development Impact Report.

 The bank is midway through its 2025–2027 Corporate Strategy, which Olusi described as a plan to double its loan book, disbursements and impact instruments within three years. The strategy rests on six thematic areas: MSME finance, infrastructure, women and gender, youth and skills, climate and sustainability, and the digital economy.

 Olusi said MSMEs received 41 per cent of the 2025 funding against a 35 per cent target. Women-owned businesses received N120.9bn, while women and youth businesses got 20 per cent each of the bank’s funding. In infrastructure, BoI deployed over N108bn, including 100 mini-grids that connected 11,777 households and businesses to electricity.

 “We also achieved our disbursement targets for Climate and Digital financing,” Olusi said.

 The bank has organised its lending around 15 priority sectors in five divisions: agro manufacturing, other manufacturing, infrastructure, extractive industries and services. It added ICT as its newest sector.

 Olusi said, “For our large enterprise lending, 80 per cent now goes to manufacturing and infrastructure, because these are the sectors that create the most jobs and output for every naira we lend.”

• You impoverished Nigerians, Obasanjo attacks Tinubu’s reforms
• Ogun communities demand improved infrastructure from Yayi
• 90% of ITF-NECA trainees get jobs, start businesses

 BoI also raised fresh long-term capital. It closed a €1.879bn syndicated facility in 2024 and secured €210m from international development partners in 2025. This year, it raised an oversubscribed N250bn Development Bond, along with €85m from the European Investment Bank for agriculture and €50m for healthcare manufacturing.

“Investors have placed this money with us because they trust our governance, our pipeline and our results,” Olusi said.

 The bank also delivered over 95 per cent of the Federal Government’s N200bn intervention, reaching 957,400 grant beneficiaries, 9,000 MSMEs and 104 large manufacturers. Through its RAPID programme, it disbursed N6.5bn to 880 rural enterprises in all 36 states and the Federal Capital Territory, supporting more than 8,000 jobs.

 The bank’s report indicated high inflation, elevated interest rates and exchange-rate volatility raised operating costs for MSMEs in 2025, while informality and weak financial records limited their growth.

 Olusi said BoI expects to do better in 2026 and will consolidate in 2027. “For 2026, we are set to exceed our 2025 impact,” he said.

 He added, “2027 is the final year of our strategy, and our task is to consolidate and meet every target we set.”

 BoI is working with the Federal Ministry of Industry, Trade and Investment on the National Industrial Finance Compact to attract more long-term capital into industry. It will also deploy the new EIB facilities into agriculture and local healthcare manufacturing, and grow its ICT portfolio through the iDICE programme.

 Olusi said, “Our mission is simple: finance what Nigeria makes, and create jobs for Nigerians.”