President Bola Tinubu has praised the Bank of Industry (BOI) for disbursing a record ₦636 billion to Nigerian businesses in 2025, calling it the highest annual financing volume in the bank’s history and a validation of his government’s economic reform agenda.
In a statement, the President said the achievement demonstrates how ongoing macroeconomic reforms are strengthening development finance institutions and unlocking capital for productive sectors. The funds were allocated to over 7,000 enterprises nationwide. The largest share, ₦202 billion, supported agro-allied enterprises, followed by ₦100 billion for critical national infrastructure including broadband, power, aviation, and transportation. Other allocations included ₦79 billion to manufacturing, ₦77 billion to extractive industries, and ₦55 billion to services. An additional ₦73 billion was deployed in managed and matching funds on behalf of state governments and institutional partners.
A breakdown by business size showed a deliberate inclusion strategy: nano enterprises received ₦51 billion, micro businesses ₦32 billion, small and medium enterprises (SMEs) ₦178 billion, and large enterprises ₦375 billion. Under the Federal Government’s ₦200 billion MSME intervention programme, BOI achieved over 95 per cent performance as the disbursing institution, with the Presidential Conditional Grant Scheme reaching 957,400 beneficiaries in 2025 alone.
The financing activities contributed to the creation and retention of approximately 1.6 million jobs. The bank also supported more than 7,000 MSMEs and 570 start-ups. Specific initiatives included the Guaranteed Loans for Women Programme, which provided a ₦10 billion facility, and the Youth Enterprise Fund, which disbursed ₦12 billion. The Rural Area Programme on Investment for Development allocated over ₦6.5 billion to 880 rural enterprises across all states and the Federal Capital Territory.
Strategic interventions financed by BOI included upgrading a tomato processing facility and linking nearly 48,000 smallholder farmers to formal value chains. In partnership with international entities, the bank supported the deployment of 100 mini-grids, connecting 11,777 new customers to electricity. BOI-financed projects are estimated to have reduced carbon emissions by over 20,000 tonnes annually. 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.
President Tinubu noted that BOI maintained strong asset quality, with a non-performing loan ratio below 1.5 per cent. He acknowledged the role of a €2 billion syndicated facility secured in 2024 and an additional €210 million mobilised in 2025, which bolstered the bank’s lending capacity. “Development finance must be disciplined, measurable, and aligned with national priorities,” the President stated, adding that the results show a transition from strategy to scale.
The President also welcomed BOI’s designation as Nigeria’s first National Implementing Entity to the United Nations Adaptation Fund, along with recognitions for sustainable finance and financial inclusion. He reaffirmed his administration’s commitment to expanding credit, accelerating industrialisation, and promoting inclusive growth through production and enterprise development.
