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.

The $300 million tertiary medical facility, developed by African Export-Import Bank (Afreximbank) in partnership with King’s College Hospital London, welcomed His Excellency President Bola Ahmed Tinubu as guest of honour, represented by His Excellency, Senator Kashim Shettima, vice president of the Federal Republic of Nigeria. 

Other high-ranking Government and private sector officials, who were present at the launch included the Minsters of Health, Finance, and Foreign Affairs, Nigeria Customs Services, Nigeria Immigration Services, Nigerian National Petroleum Corporation Limited (NNPCL) and Bank of Industry (BOI), among others.

Located in Abuja and designed to meet the highest global standards, AMCE Abuja offers world- class services across oncology, haematology, cardiology, and general medical services. 

More than a hospital, the facility represents a bold statement of Africa’s determination to reduce dependence on foreign health systems and reverse the estimated $6-10 billion Africans spend annually seeking treatment abroad.

The opening of AMCE Abuja comes at a critical time, as Africa seeks to strengthen its healthcare systems and reduce reliance on external providers. The COVID-19 pandemic exposed the vulnerabilities of this reliance, with global supply shortages putting immense pressure on African nations. 

Similarly, past responses to health crises like Ebola have reinforced the urgent need for resilient, homegrown solutions. Decades after independence, millions of Africans continue to suffer from diseases like sickle cell and malaria, conditions that could be better managed with targeted local research and investment. 

Yet these illnesses often receive limited global attention or funding, leaving critical treatment gaps. AMCE Abuja represents a bold step forward, bringing world-class care to the continent, centering African health priorities, and laying the groundwork for a healthier, more self-reliant future. 

In strategic partnership with Bank of Industry (BOI), and Nigerian National Petroleum Corporation Limited (NNPCL), AMCE reflects what’s possible when African institutions unite with shared purpose.

“Today, we are not merely unveiling a building, we are making a bold, collective statement: we will no longer accept medical vulnerability as destiny. The African Medical Centre of Excellence stands as proof that Africa is ready to compete with the best in global healthcare.

“I commend Afreximbank and its visionary President, Professor Benedict Oramah, and salute the partnership with King’s College Hospital for turning this audacious dream into reality. This is what happens when African institutions confront African challenges with African solutions.

“Over the past two years, we have taken deliberate steps to transform Nigeria’s health sector— from unlocking the healthcare value chain through the Presidential Initiative (PVAC), to expanding pharmaceutical production, regulatory systems, and diagnostic access, and securing over $2.2 billion in new investments through the Nigeria Health Sector Renewal Initiative.

“But excellence must be sustained. That’s why we’re investing in the roads, power, and connectivity that enable great institutions to thrive. With the largest stem cell lab in West Africa and plans for a medical school, this Centre is more than a hospital, it is a place to heal the sick, and to train the future,” H.E. Bola Ahmed Tinubu, GCFR, president and commander-in-chief of the Armed Forces, Federal Republic of Nigeria, represented by H.E. Senator Kashim Shettima, vice president of the Federal Republic of Nigeria.

Commenting on the momentous achievement, Prof. Benedict Oramah, president and chairman of the Board of Directors of both Afreximbank and AMCE, thanked the Federal Government of Nigeria for providing the land on which the AMCE stands, adding: 

“In 2013, I had my own close call when I became seriously ill and was evacuated to King’s College Hospital in London, where a frantic battle to save my life ensued. Being here today is a testament to the power of cutting-edge medical research, clinical knowledge, and a solid healthcare ecosystem.

“The event we mark today is proof that society is better off saving lives than burying its dead, and that it is a living person who can contribute to development and social transformation. 

“This experience led me to conclude that one of the major contributions I could make to Africa was to help Afreximbank deliver on its health and medical strategy in every way possible.

“Our vision for the African Medical Centre of Excellence is not just to provide top-notch healthcare but to serve as a catalyst for the transformation of the African health sector, making a bold statement to the world that Africa is finally taking its destiny into its own hands in healthcare sovereignty and global standards.”

President Oramah also announced the launch of the Africa Life Sciences Foundation, to act as the vehicle for mobilising appropriate risk capital to drive research efforts and called on African and non-African governments, banks, high net worth individuals, and corporate organisations to join the Bank in investing in the hospital through this platform.

Brian Deaver, chief executive officer of AMCE, highlighted the facility’s comprehensive approach: “Today, we don’t just open a hospital, we launch a healthcare revolution for Africa. AMCE represents a paradigm shift in how specialised medical care is delivered on the continent.

“Our integrated model encompasses early diagnosis, advanced treatment, and long-term disease management, creating a seamless continuum of care that improves patient outcomes and health experiences.”

He added: “Our mission extends beyond treatment to include world-class medical education, groundbreaking research, and continuous innovation. By combining international expertise with local talent development, AMCE will build sustainable healthcare capacity that serves generations to come.”

AMCE’s opening signals a new era for Africa, one in which self-reliance replaces dependency, and world-class care is no longer the privilege of a few but the standard for many. 

By anchoring healthcare delivery, talent development, and innovation on the continent, AMCE is not just stemming the outflow of medical dollars, but redefining Africa’s place in the global health ecosystem.

Through its clinical partnerships with King’s College Hospital, London and The Christie NHS Foundation Trust, AMCE will be home to advance research, education, and medical excellence by fostering continuous knowledge exchange. 

In its next phase, AMCE will expand to include a second 350-bed hospital, medical and nursing schools, a medical sciences foundation, research centres, and residential facilities. Together, this integrated ecosystem will position Nigeria as a leading hub for specialist healthcare, medical training, and clinical research on the continent.

Professor Clive Kay, chief executive officer of King’s College Hospital NHS Foundation Trust said, “We are proud to partner with Afreximbank on this important initiative. The African Medical Centre of Excellence represents a positive step forward, and by bringing together world-class clinical standards, training, and research, we aim to share our expertise and support the development of a sustainable model of care that responds directly to the needs of African patients”.

The AMCE currently boasts 170 beds, with plans to expand this to 500 beds upon completion. It features the largest stem cell laboratory in the region, 15 post-stem cell isolation rooms in West Africa, alongside five theatres and three catheterisation laboratories. 

It also features a 20-bed intensive care unit, six critical care unit beds and 20 chemotherapy chairs with a compounding pharmacy among others. Some of the specialised equipment in Nigeria and the region are exclusively hosted by AMCE Abuja. 

They include an 18MeV cyclotron, 3 Tesla Magnetic Resonance Imaging, 256 slices computed tomography, brachytherapy machine with iridium source, four biosafety cabinets and 128 slices computed tomography machines, among other amenities.

Now open, AMCE Abuja welcomes patients, healthcare professionals, researchers, and partners to join its mission of delivering world-class healthcare, fostering innovation, and building a healthier, more self-reliant Africa.

The landmark transaction also represented a 42.5 per cent oversubscription as the bank takes advantage of the syndicated loan market.

The facility includes a fully guaranteed and a partially guaranteed tranche by Africa Finance Corporation (AFC).

The development finance institution had raised €1 billion via a term loan syndicated facility in July 2022, which was successfully repaid in July 2024.

The performance represented a mark of confidence in the bank and the Nigerian economy by foreign investors who perceive a bright future for the country.

In a statement, Dr. Olasupo Olusi, the managing director/chief executive, Bank of Industry, said the proceeds of the loan will help finance a growing demand for BoI funds across the country.

Olusi is a distinguished economist and seasoned development finance expert, with a remarkable over two-decade career dedicated to shaping economic policies, fostering fiscal sustainability, and driving private and financial sector development on a global scale.

He brings a wealth of expertise to Bank of Industry, honed through his extensive tenure with prestigious institutions such as the World Bank and the International Finance Corporation (IFC).

He said, “This is the largest syndication in the bank’s history and is testament to the hard work and dedication of the management of BoI to ensuring that much needed low interest and longer tenured funds are available to Nigeria’s growing private sector in line with the vision of His Excellency President Bola Ahmed Tinubu.

“We are grateful for the support received from the CBN and other agencies of government.”

Olusi further assured that the bank under his leadership will continue to work with global development financial institutions to ensure better loan terms for Nigeria’s private enterprises.

The bank appointed the AFC and Standard Chartered Bank as the Global Coordinators of a €1bn syndicated term loan facility (with accordion of another €1 billion).

Also, AFC, African Export-Import Bank, First Abu Dhabi Bank PJSC, FirstRand Bank Limited (London Branch), acting through its Rand Merchant Bank division, Mashreqbank psc, SMBC Bank International plc, and Standard Chartered Bank were appointed as the Initial Mandated Lead Arrangers and Bookrunners.

In addition, Absa Bank Limited (acting through its Corporate and Investment Banking division) and its affiliates and Export-Import Bank of India London Branch have also joined the facility as Initial Mandated Lead Arrangers.

BOI is looking forward to a successful conclusion of the ongoing general phase, given the level of interest expressed by the local and international banks and investors.

On monday, 2nd September 2024, President Bola Tinubu approved the appointment of Dr. Olasupo Olusi to serve as the Managing Director and Chief Executive Officer of the Bank of Industry for a term of four years.

Olusi’s appointment follows the voluntary resignation of the immediate past MD/CEO of BoI, Olukayode Pitan.

But who is Dr. Olasupo Olusi? Olasupo is the son of Professor S. O. Olusi, a former dean of the College of Health Sciences at Obafemi Awolowo University, Ile Ife, Osun State. His mother, Professor Janet Omolara Olusi, is also an academician and retired from OAU as a professor of economics.

Academic Trajectory
Dr. Olusi holds a B.Sc. in Economics from Hull University, UK; an M.Sc. in International Money, Finance, and Investment from the University of Durham, UK; and a Ph.D. in Economics, also from the University of Durham. He is a proud member of the Royal Economic Society (United Kingdom) and the American Finance Association (USA).

Career Exploits
His illustrious journey commenced at the World Bank, where he significantly contributed to capital markets reform and conducted groundbreaking research on finance and private sector development in the Middle East and North Africa.

Over the years, Dr. Olusi has assumed pivotal roles, including serving as a World Bank Country Economist for several countries, an Economic Adviser at the Federal Ministry of Finance in Nigeria, and a Senior Private Sector Specialist at the International Finance Corporation (IFC).

In the sphere of fiscal policies and debt management, Dr. Olusi brings his expertise to bear in ensuring financial stability and transparency, a testament to his commitment to responsible economic practices.

With a proven track record in project management, financing, and implementation, he has successfully led diverse projects, showcasing proficiency in both lending and non-lending spheres.

His strategic vision includes creating an enabling environment for businesses through thoughtful policy reforms. Dr. Olusi’s adept knowledge and management skills contribute to impactful initiatives, including newsletters and inspirational lecture series.

Furthermore, Dr. Olasupo Olusi’s comprehensive approach encompasses nurturing entrepreneurship and fostering overall business development.

His multifaceted expertise positions him as a valuable leader in shaping economic landscapes and driving transformative change.

Noteworthy accomplishments include leading multi-million-dollar development projects, steering private sector diagnostics, and managing investment lending initiatives.

Dr. Olusi played a pivotal role in delivering the World Bank Group’s inaugural comprehensive assessment of Nigeria’s private sector in 2020.

In his current role as the Managing Director and CEO of the Bank of Industry, Dr. Olusi will be steering the organization towards transformative and competitive economic endeavors.

Leveraging his profound understanding of macroeconomic dynamics, his leadership is marked by a commitment to sustainable development, strategic planning, and localized implementation of corporate priorities.

Devoted to the growth of Micro, Small, and Medium Enterprises (MSMEs), Dr. Olusi  would  actively works towards economic diversification and drives impactful reforms in public sector entities, emphasizing improved governance and efficiency.

Actively engaged in collaboration with multiple stakeholders, co-leading knowledge management initiatives, and spearheading impactful projects, Dr. Olusi continues to make significant contributions to the success and resilience of Nigeria’s industrial landscape.

The five thematic areas of focus under his leadership at BOI are SMEs, Digital Transformation, Youth and Skills, Gender, and Climate. Additionally, there will be special focus and strategic initiatives that will be game changers for Nigeria’s private sector.