BOI Unveils First Impact Report, Disburses ₦644.9bn, Creates 1.68 Million Jobs in 2025

By The Ameh News
The Bank of Industry (BOI) has unveiled its inaugural Annual Development Impact Report, announcing the disbursement of ₦644.9 billion to businesses across Nigeria and the creation of an estimated 1.68 million jobs in 2025, as the development finance institution shifts its focus from measuring loan volumes to delivering measurable socio-economic impact.
Speaking at the report’s unveiling in Abuja on Thursday, BOI Managing Director and Chief Executive Officer, Dr. Olasupo Olusi, described 2025 as a landmark year for the bank, saying it marked the first full year of implementing its 2025–2027 Corporate Strategy, which prioritises sustainable development outcomes alongside financial performance.
Olusi said the bank financed nano, micro, small, medium and large enterprises nationwide, with more than 30 per cent of total funding directed to MSMEs, while over 20 per cent supported businesses owned by women and young entrepreneurs.
According to him, the bank’s interventions supported approximately 1.68 million direct, indirect and induced jobs, while financing projects across 14 strategic sectors of the economy to advance Nigeria’s industrialisation agenda.
“2025 marked a defining moment for BOI. Beyond financing businesses, we deliberately shifted our focus to measuring the real development impact of our interventions. Our investments translated into tangible outcomes by supporting millions of jobs, strengthening infrastructure, reducing carbon emissions and empowering women and young entrepreneurs,” Olusi said.
BOI Surpasses Strategic Targets
The BOI boss disclosed that the institution exceeded its 2025 targets across six priority areas, including infrastructure development, MSME financing, digital transformation, youth empowerment, gender inclusion and climate action.
He added that the bank expanded access to finance, strengthened critical value chains and invested heavily in infrastructure designed to improve productivity and boost Nigeria’s competitiveness.
Olusi noted that BOI’s network of 37 offices across 34 states enhanced access to development finance, particularly in underserved communities.
He further revealed that BOI achieved over 95 per cent disbursement performance as the implementing agency for the Federal Government’s ₦200 billion MSME Industrialisation Fund.
New Programmes Bridge Financing Gaps
To deepen financial inclusion, BOI introduced several flagship initiatives during the year, including:
Rural Area Programme on Investment for Development (RAPID)
Guaranteed Loans for Women (GLOW)
Investment in Digital and Creative Enterprises (iDICE)
The bank also invested in strategic infrastructure, providing:
Over ₦35 billion for broadband expansion.
₦30.6 billion for power infrastructure.
More than ₦20 billion for aviation sector development.
Olusi described the investments as critical to improving productivity, industrial competitiveness and climate resilience.
To enhance transparency, he disclosed that the report was independently assured by KPMG and the Policy Innovation Centre (PIC), adding that BOI’s newly established Development Impact Framework would enable the institution to measure development outcomes more accurately in future.
Looking ahead, Olusi said BOI would intensify support for enterprises capable of creating sustainable jobs, promoting local value addition and strengthening Nigeria’s industrial competitiveness.
He also appreciated the Federal Government, BOI’s Board, development partners—including Afreximbank, the World Bank, African Development Bank (AfDB), European Union, UNDP and UNIDO—and members of staff for their continued support.
Minister Hails BOI’s Transparency
Minister of State for Industry, Trade and Investment, Senator John Enoh, described the maiden Development Impact Report as a new benchmark for transparency and accountability in Nigeria’s public sector.
He said the report’s emphasis on measurable development outcomes aligns with President Bola Tinubu’s Renewed Hope Agenda, particularly in expanding MSME financing, supporting youth entrepreneurship, promoting gender inclusion, encouraging innovation and strengthening climate resilience.
Enoh also linked BOI’s activities to the implementation of the Nigerian Industrial Policy (NIP) launched on February 17, 2026, describing the policy as a roadmap for industrial growth, job creation, value addition and export expansion.
He disclosed that the Ministry had already released its first 90-day implementation report, highlighting progress on the AfDB-backed Industrial Cluster Programme, work towards establishing a proposed $350 billion MSME Development Fund, capacity-building initiatives by the National Automotive Design and Development Council (NADDC) and the Industrial Training Fund (ITF), as well as the certification of 121 Nigerian companies with African Quality Marks to improve their competitiveness under the African Continental Free Trade Area (AfCFTA).
Enoh reaffirmed the ministry’s commitment to working with BOI to strengthen industrial clusters, improve MSME competitiveness and support manufacturers through initiatives such as the forthcoming Kuku Value Chain Summit.
Nigeria Needs More Bankable Projects – Budget Ministry
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 biggest investment challenge is no longer the availability of capital but the shortage of well-prepared, bankable projects.
She stressed that quality project preparation remains the foundation for attracting sustainable investments capable of driving economic growth.
According to her, 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, stronger investment protection frameworks and effective alignment of public resources with national priorities.
Uzoka-Anite urged development finance institutions such as BOI to champion investment ecosystems by promoting transparency, adopting global best practices and deploying blended finance solutions to reduce investment risks for MSMEs.
She also called on development partners to support feasibility studies and the establishment of African credit rating systems to lower borrowing costs across the continent.
“Investment follows preparation, and preparation thrives on partnership,” she said.
Representatives of the African Development Bank, the European Union, Agence Française de Développement (AFD) and other development partners commended BOI for its growing contribution to Nigeria’s industrialisation drive and sustainable economic transformation, describing the inaugural Development Impact Report as an important milestone in strengthening accountability and evidence-based development financing.