By Ayo Ayodele
President Bola Ahmed Tinubu has commended the Bank of Industry (BOI) for disbursing a record N636 billion to businesses in 2025, describing the achievement as evidence that the Federal Government’s economic reforms are strengthening development finance and expanding access to capital.
In a statement issued on Thursday by his Special Adviser on Information and Strategy, Bayo Onanuga, the President said the milestone—the highest annual financing volume in the bank’s history—demonstrates the positive impact of ongoing macroeconomic reforms.
The N636 billion was disbursed to more than 7,000 enterprises across the country. A breakdown of the funding shows that N202 billion went to agro-allied enterprises, N100 billion to critical infrastructure such as broadband, power, aviation, and transportation, N79 billion to manufacturing, N77 billion to extractive industries, and N55 billion to services.
Additionally, the bank deployed N73 billion in managed and matching funds on behalf of state governments and institutional partners.
President Tinubu said the disbursement translated directly into expanded productive capacity nationwide.
“The N636 billion disbursed by the Bank of Industry in 2025 translates directly into productive capacity across Nigeria. It financed agro-processing expansion, strengthened manufacturing output, supported infrastructure delivery, and empowered thousands of enterprises across our states,” he said.
“At a time of global financing constraints, Nigeria expanded access to long-term capital for its businesses. That is a direct outcome of reform, credibility, and institutional discipline.”
The disbursement reflected an inclusion strategy across business sizes. Nano enterprises received N51 billion, micro businesses N32 billion, small and medium enterprises N178 billion, while large enterprises accounted for N375 billion.
Under the Federal Government’s N200 billion MSME intervention programme, BOI recorded over 95 percent performance as the disbursing institution. The Presidential Conditional Grant Scheme reached 957,400 beneficiaries in 2025 alone.
BOI’s financing activities also led to the creation and retention of approximately 1.6 million jobs, while more than 7,000 MSMEs and 570 startups received support during the year.
Gender and youth-focused initiatives recorded notable outcomes. Through the N10 billion Guaranteed Loans for Women Programme, women-owned enterprises accessed loans of up to N50 million per beneficiary. Youth-owned enterprises received N12 billion in financing, while 880 rural enterprises across the 36 states and the Federal Capital Territory accessed over N6.5 billion under the Rural Area Programme on Investment for Development.
Strategic interventions included upgrading a tomato processing facility from 3.1 metric tonnes per hour to 10 metric tonnes per hour and linking 47,508 smallholder farmers to formal value chains. The bank 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 programme, 500 founders were prepared for investment, 100 technology ventures received funding, and 400 youths were trained under innovation initiatives targeting over 300,000 Nigerians.
The President noted that BOI maintained strong asset quality, with a non-performing loan ratio below 1.5 percent despite macroeconomic challenges. He also highlighted the €2 billion syndicated facility secured in 2024 and an additional €210 million mobilised from international partners in 2025 to strengthen the bank’s lending capacity.
“Development finance must be disciplined, measurable, and aligned with national priorities. What we are witnessing is the transition from strategy to scale,” Tinubu said. “Our economic transformation will be built on production, value addition, and enterprise growth.”
He also welcomed BOI’s designation as Nigeria’s first National Implementing Entity to the United Nations Adaptation Fund and its recognition for sustainable finance and financial inclusion.
President Tinubu reaffirmed his administration’s commitment to consolidating reform gains and expanding credit access as part of efforts to accelerate industrialisation and inclusive economic growth.