The Bank of Industry (BoI) has disclosed that it deployed N645 billion in strategic financing in 2025 to de-risk key sectors of the economy, resulting in the creation of 1.68 million jobs nationwide.
The development finance institution also said the interventions supported 12,501 businesses and 1,615 start-ups, while 950,362 enterprises benefited from grants during the period.
BoI revealed the figures in its inaugural Annual Development Impact Report unveiled on Thursday in Abuja, describing the exercise as part of its shift from conventional lending to measurable development outcomes.
The report showed that the bank’s interventions helped bridge gaps between government policy goals and actual industrial expansion, positioning BoI as a key driver of the federal government’s Renewed Hope Agenda.
According to the bank, its financing covered manufacturing, agriculture, infrastructure, technology, renewable energy and logistics, with a focus on strengthening local value chains, boosting productivity and expanding industrial capacity.
It added that 7,078 businesses benefited directly from its disbursements across all 36 states and the Federal Capital Territory, with 59 per cent of funding going to large enterprises and 41 per cent to micro, small and medium-scale businesses.
Minister of State for Industry, Senator John Enoh, described BoI as one of government’s most effective institutions, noting that its impact goes beyond financial reporting to real outcomes such as job creation, enterprise growth and improved livelihoods.
He said the bank had consistently aligned with national industrialisation goals, particularly in supporting MSMEs, youth entrepreneurship, gender inclusion and technology-driven businesses, adding that many manufacturers acknowledge BoI’s role in their growth.
Minister of Budget and Economic Planning, Senator Abubakar Bagudu, also praised the institution for introducing an impact-based reporting system, saying development finance must be measured by lives transformed rather than funds disbursed.
He said BoI’s evolving role reflects global best practice and supports Nigeria’s ambition of building a $1 trillion economy through stronger investment mobilisation, improved project delivery and private sector confidence.
Managing Director of BoI, Dr. Olasupo Olusi, said 2025 marked a turning point for the bank as it deliberately shifted towards tracking development impact, including job creation, industrial expansion and environmental sustainability.
He explained that all projects now undergo an Anticipated Development Results Report to ensure alignment with national priorities before approval, while the bank continues to invest in staff capacity and ESG standards.
Olusi said BoI’s interventions have helped expand access to finance, strengthen value chains, improve infrastructure and support inclusive growth for women and young entrepreneurs.
The report also highlighted major sectoral outcomes, including N4.6 billion invested in manufacturing upgrades, N10 billion in transport and logistics projects, and mini-grid interventions that electrified over 100 rural communities.
In agriculture, BoI said it linked over 47,000 smallholder farmers to value chains, while in power, more than 11,000 new electricity customers were connected through renewable energy projects.
The bank also supported healthcare manufacturing, digital infrastructure expansion, and climate-focused investments, including renewable energy adoption by over 55 companies.
BoI said it remained committed to driving industrial transformation, expanding green financing, and mobilising private capital to position Nigeria as a leading manufacturing hub in Africa.
