Tinubu hails BOI’s N636bn disbursement as reforms supercharge Nigeria’s economy

By Johnbosco Agbakwuru

ABUJA — PRESIDENT Bola Tinubu has lauded the Bank of Industry (BOI) for disbursing a historic N636 billion to businesses in 2025, describing the feat as the institution’s highest annual lending performance and a clear indicator that ongoing economic reforms are strengthening Nigeria’s development finance architecture.

The President said the scale of financing reflects growing institutional discipline and improved macroeconomic stability, which he noted are unlocking long-term capital for enterprises and productive sectors nationwide.

Data released on the bank’s operations show that the N636 billion facility reached over 7,000 enterprises across the country. Sectoral allocation indicates that agro-allied businesses received N202 billion, while N100 billion went to critical infrastructure projects spanning broadband, electricity, aviation and transportation.

Manufacturing attracted N79 billion, extractive industries N77 billion, and the services sector N55 billion.

In addition, BOI deployed N73 billion in managed and matching funds on behalf of state governments and other institutional partners.

According to President Tinubu, the intervention has translated into tangible economic outcomes, including expanded agro-processing capacity, stronger manufacturing output, infrastructure delivery and increased enterprise activity across the states.

He noted that Nigeria’s ability to widen access to long-term finance at a period of global capital tightening underscores the credibility of its reform programme.

Financing distribution by enterprise size highlighted an inclusion-driven strategy. Nano businesses accessed N51 billion, micro enterprises N32 billion, small and medium enterprises N178 billion, while large firms accounted for N375 billion of total disbursements.

Under the Federal Government’s N200 billion MSME intervention scheme, BOI recorded over 95 per cent performance as the primary disbursing institution.

The Presidential Conditional Grant Scheme also reached 957,400 beneficiaries within the year under review.

The bank’s financing activities were further credited with the creation and retention of an estimated 1.6 million jobs, supporting more than 7,000 MSMEs and 570 start-ups.

Targeted inclusion programmes equally recorded measurable gains. Through the Guaranteed Loans for Women Programme, a N10 billion facility offering up to N50 million per beneficiary, women-owned enterprises expanded access to affordable credit, while youth-owned businesses secured N12 billion in funding.

Similarly, 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.

Key project interventions included the upgrade of a tomato processing plant from 3.1 metric tonnes per hour to 10 metric tonnes per hour and the integration of 47,508 smallholder farmers into formal processing value chains.

BOI also supported the deployment of 100 mini-grids in collaboration with global development finance institutions, connecting 11,777 new electricity customers and contributing to an estimated annual carbon emission reduction of over 20,000 tonnes.

Through the Investment in Digital and Creative Enterprises initiative, 500 founders were prepared for investment, 100 technology ventures secured funding, while 400 youths underwent training under innovation programmes targeting more than 300,000 Nigerians.

President Tinubu also noted that the bank sustained strong asset quality, maintaining a non-performing loan ratio below 1.5 per cent despite prevailing macroeconomic pressures.

He acknowledged the €2 billion syndicated facility secured in 2024 and an additional €210 million mobilised from international partners in 2025, which enhanced BOI’s lending capacity.

Reaffirming government’s commitment to industrialisation and inclusive growth, the President said development finance must remain disciplined, measurable and aligned with national priorities, adding that continued institutional reforms would ensure sustained expansion of credit to the real sector.

He further welcomed BOI’s designation as Nigeria’s first National Implementing Entity to the United Nations Adaptation Fund, alongside recognitions for sustainable finance and financial inclusion, describing them as milestones that reinforce Nigeria’s credibility within the global development finance community.

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