President Bola Ahmed Tinubu has commended the Bank of Industry (BOI) for disbursing a record N636 billion to businesses in 2025, describing it as the highest annual financing volume in the bank’s history.
The figure was disclosed in a statement issued by the State House on Thursday, February 12, 2026, and signed by Bayo Onanuga, Special Adviser to the President on Information and Strategy.
According to the President, the milestone reflects the impact of ongoing macroeconomic reforms in strengthening development finance institutions and improving access to long-term capital for productive sectors.
Sectoral allocation
The N636 billion was disbursed to more than 7,000 enterprises nationwide.
A sectoral breakdown shows:
- Agro-allied businesses: N202 billion
- Infrastructure (broadband, power, aviation, transport): N100 billion
- Manufacturing: N79 billion
- Extractive industries: N77 billion
- Services: N55 billion
In addition, BOI deployed N73 billion in managed and matching funds on behalf of state governments and institutional partners.
Tinubu stated that the disbursement translated directly into increased productive capacity across the economy, supporting agro-processing expansion, manufacturing output, infrastructure delivery, and enterprise growth.
Breakdown by business size
By enterprise category:
- Nano enterprises: N51 billion
- Micro businesses: N32 billion
- Small and medium enterprises (SMEs): N178 billion
- Large enterprises: N375 billion
Under the Federal Government’s N200 billion MSME intervention programme, BOI reportedly achieved over 95% performance as the disbursing institution. The Presidential Conditional Grant Scheme reached 957,400 beneficiaries in 2025.
Jobs and enterprise impact
BOI’s financing activities were linked to an estimated 1.6 million jobs created or retained during the year. The bank supported over 7,000 MSMEs and 570 startups.
Gender- and youth-focused funding also recorded increased uptake:
Guaranteed Loans for Women Programme (N10bn facility): Up to N50 million per beneficiary
Youth-owned enterprises: N12 billion disbursed
Rural Area Programme on Investment for Development: N6.5 billion to 880 rural enterprises across 36 states and the FCT
Project-level interventions
Project-specific outcomes included:
Expansion of a tomato processing facility from 3.1 to 10 metric tonnes per hour; integration of 47,508 smallholder farmers into formal value chains, and deployment of 100 mini-grids, connecting 11,777 new electricity customers
The mini-grid projects are estimated to reduce over 20,000 tonnes of carbon emissions annually.
Digital, innovation and capital mobilisation
In the digital and creative ecosystem, BOI:
- Prepared 500 founders for investment
- Funded 100 technology ventures
- Trained 400 youths under innovation programmes targeting more than 300,000 Nigerians
The President also noted that BOI maintained strong asset quality, with a non-performing loan ratio below 1.5%.
He referenced a €2 billion syndicated facility secured in 2024 and an additional €210 million mobilised from international partners in 2025, which expanded the bank’s lending capacity.
What this means
Tinubu stated that despite global financing constraints, Nigeria has been able to expand access to long-term capital due to reform measures, improved institutional discipline, and enhanced credibility.
He reiterated that development finance must remain measurable and aligned with national priorities, adding that the administration would continue to expand credit access to support industrialisation and inclusive growth.
The President also welcomed BOI’s designation as Nigeria’s first National Implementing Entity to the United Nations Adaptation Fund, describing it as a milestone for sustainable finance and Nigeria’s global development finance positioning.
