Economic Reforms: BOI Hits Record N636bn Outlay as Industry Peaks.
ABUJA — President Bola Ahmed Tinubu has formally lauded the Bank of Industry (BOI) for a historic N636 billion loan disbursement to Nigerian enterprises in 2025. This record-breaking volume, the highest in the institution’s history, reached over 7,000 enterprises across the federation. The President characterized this milestone as empirical validation of his administration’s macroeconomic reforms. According to the Presidency, these figures demonstrate that strengthened development finance institutions can effectively unlock capital for the nation’s productive sectors.
A granular analysis of the 2025 financing reveals a strategic emphasis on food security and structural backbone projects. The agro-allied sector secured the lion’s share with N202 billion, while N100 billion targeted critical national infrastructure, including broadband and power. Manufacturing and extractive industries received N79 billion and N77 billion, respectively. Furthermore, the bank’s interventions reportedly facilitated the creation and retention of approximately 1.6 million jobs. The BOI also maintained exceptional asset quality, recording a non-performing loan ratio significantly below the 1.5 percent threshold.
The bank’s inclusion strategy prioritized the often-neglected base of the economic pyramid. Small and medium enterprises (SMEs) accessed N178 billion, while nano and micro-businesses received a combined N83 billion. Furthermore, gender-focused initiatives saw women-owned enterprises expand through the N10 billion “Guaranteed Loans for Women” facility. Under the Presidential Conditional Grant Scheme alone, over 957,400 beneficiaries received direct support. Meanwhile, rural-based enterprises across all 36 states accessed N6.5 billion through the RAPID program, signaling a shift toward decentralized economic empowerment.
In a related development, the BOI has secured its standing as a global player in sustainable finance. The institution recently became Nigeria’s first National Implementing Entity to the United Nations Adaptation Fund. This designation enables the bank to mobilize international climate finance for localized resilience projects. Furthermore, the bank’s partnership with global development partners led to the deployment of 100 mini-grids, connecting nearly 12,000 new customers to the electricity grid. These strategic moves align with the broader national objective of achieving industrialization through green and sustainable energy solutions.
Ultimately, the President maintains that development finance must remain disciplined, measurable, and aligned with national priorities. The transition from strategy to scale suggests that institutional discipline is yielding tangible dividends for the real sector. Only by sustaining this momentum can Nigeria truly transform its industrial landscape and reduce its perennial dependence on imports.