President Bola Tinubu has applauded the Bank of Industry (BOI) for disbursing a record ₦636 billion to businesses in 2025, describing it as the highest annual financing volume in the institution’s history and a strong endorsement of his administration’s economic reform agenda.
In a statement issued on Thursday by his Special Adviser on Information and Strategy, Bayo Onanuga, the President said the achievement demonstrates how ongoing macroeconomic reforms are strengthening development finance institutions and unlocking capital for productive sectors.
According to the statement, BOI disbursed the ₦636 billion to more than 7,000 enterprises nationwide. Of the total, ₦202 billion went to agro-allied businesses, ₦100 billion to critical national infrastructure—including broadband, power, aviation and transport—₦79 billion to manufacturing, ₦77 billion to extractive industries, and ₦55 billion to services. The bank also deployed ₦73 billion in managed and matching funds on behalf of state governments and institutional partners.
President Tinubu said the scale of financing reflects measurable progress in expanding Nigeria’s productive capacity.
“The ₦636 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.
“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,” he said.
A breakdown by business size shows what the presidency described as a deliberate inclusion strategy. Nano enterprises received ₦51 billion, micro businesses ₦32 billion, small and medium-sized enterprises ₦178 billion, while large enterprises accounted for ₦375 billion.
Under the Federal Government’s ₦200 billion MSME intervention programme, BOI achieved over 95 per cent performance as the disbursing institution. The Presidential Conditional Grant Scheme reached 957,400 beneficiaries in 2025 alone.
The statement added that BOI’s financing activities created and retained approximately 1.6 million jobs during the year. The bank supported more than 7,000 MSMEs and 570 start-ups.
Through the Guaranteed Loans for Women Programme—a ₦10 billion gender-focused facility providing up to ₦50 million per beneficiary—women-owned enterprises expanded access to affordable credit. Youth-owned businesses secured ₦12 billion in financing. Under the Rural Area Programme on Investment for Development, 880 rural enterprises across the 36 states and the FCT accessed over ₦6.5 billion.
BOI’s strategic interventions included upgrading a tomato processing plant from 3.1 metric tonnes per hour to 10 metric tonnes per hour and linking 47,508 smallholder farmers to formal processing value chains. In partnership with global development finance institutions, the bank supported the deployment of 100 mini-grids, connecting 11,777 new customers to electricity. BOI-financed projects contributed to an estimated annual reduction of more than 20,000 tonnes of carbon emissions.
Through the Investment in Digital and Creative Enterprises programme, the bank prepared 500 founders for investment, funded 100 technology ventures and trained 400 young people through innovation initiatives targeting over 300,000 Nigerians.
President Tinubu noted that BOI maintained strong asset quality, recording a non-performing loan ratio below 1.5 per cent. He also acknowledged the €2 billion syndicated facility secured in 2024 and the additional €210 million mobilised from international partners in 2025, which strengthened 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.
“Our economic transformation will be built on production, value addition and enterprise growth. We will continue to crowd in capital, deepen institutional reform and ensure that access to finance supports real sector expansion across Nigeria,” the President said.
He further welcomed BOI’s designation as Nigeria’s first National Implementing Entity to the United Nations Adaptation Fund, as well as its recognition for sustainable finance and financial inclusion. He said these milestones enhance Nigeria’s global development finance standing and reaffirm his administration’s commitment to expanding credit, accelerating industrialisation and promoting inclusive growth.