Bank of Industry (BOI) on Thursday unveiled its maiden Annual Development Impact Report, revealing that it disbursed N644.9 billion to businesses in 2025 and supported an estimated 1.68 million jobs, as the development finance institution shifts its focus from measuring lending volumes to assessing the real economic impact of its interventions.
Speaking at the launch in Abuja, BOI’s Managing Director and Chief Executive Officer, Olasupo Olusi, described the report as a landmark in the bank’s evolution, saying it reflects a deliberate transition towards development outcomes rather than simply reporting the size of its loan portfolio.
Olusi said 2025 was a defining year for the institution as it marked the first full year of implementing BOI’s 2025-2027 corporate strategy, which prioritises measurable socio-economic impact alongside financial performance.
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According to him, the bank channelled more than 30 per cent of its financing to nano, micro, small and medium enterprises (MSMEs), while over 20 per cent went to women- and youth-led businesses, reinforcing its commitment to inclusive economic growth.
He disclosed that the bank financed enterprises across 14 strategic sectors of the economy, with interventions contributing to employment generation, digital infrastructure expansion, climate action and industrial development.
“2025 marked a defining moment for BOI. Beyond financing businesses, we deliberately shifted our focus to measuring the real development impact of our interventions,” Olusi said, noting that the bank exceeded its targets in infrastructure development, MSME financing, digital transformation, youth empowerment, gender inclusion and climate initiatives.
The BOI chief said the institution also strengthened value chains, widened access to finance and expanded strategic infrastructure investments designed to improve productivity and national competitiveness.
Among the projects financed during the year were more than N35 billion for broadband expansion, N30.6 billion for power infrastructure, and over N20 billion for aviation upgrades.
Olusi added that BOI achieved over 95 per cent disbursement performance as the implementing agency for the Federal Government’s ₦200 billion MSME Industrialisation Fund.
He also highlighted the launch of new intervention programmes, including the Rural Area Programme on Investment for Development (RAPID), the Guaranteed Loans for Women (GLOW) initiative and the Investment in Digital and Creative Enterprises (iDICE) programme, aimed at addressing financing gaps in priority sectors.
To enhance transparency, Olusi disclosed that the Development Impact Report was independently assured by KPMG and the Policy Innovation Centre (PIC), adding that BOI had established a Development Impact Framework to improve monitoring and evaluation of its interventions.
Looking ahead, he said the bank would deepen support for enterprises capable of creating sustainable jobs, promoting local value addition and improving Nigeria’s industrial competitiveness.
The Minister of State for Industry, Trade and Investment, John Enoh, described the report as a new benchmark for accountability among public institutions, saying it reflects a welcome shift from reporting disbursement figures to demonstrating measurable development outcomes.
Enoh said BOI’s interventions align with President Bola Tinubu’s Renewed Hope Agenda by expanding financing for MSMEs, supporting youth entrepreneurship, promoting gender inclusion and encouraging innovation and climate resilience.
He added that the bank would play a critical role in implementing Nigeria’s Industrial Policy launched earlier this year, noting that the ministry was already making progress on industrial clusters, MSME development, skills acquisition, and improving the competitiveness of Nigerian manufacturers under the African Continental Free Trade Area.
Also speaking, the Minister of State for Budget and Economic Planning, Doris Nkiruka Uzoka-Anite, representing the Minister of Budget and Economic Planning, Abubakar Atiku Bagudu, said Nigeria’s biggest investment challenge is no longer the availability of capital but the shortage of bankable projects.
She urged development finance institutions to strengthen project preparation, embrace global standards and deploy blended finance solutions capable of attracting greater private investment while reducing financing risks for MSMEs.
Uzoka-Anite maintained that achieving the Federal Government’s ambition of building a $1 trillion economy under the Renewed Hope Agenda would depend on quality project preparation, stronger investment protection mechanisms and closer collaboration among government, development partners and the private sector.
Representatives of development partners, including the African Development Bank, the European Union and Agence Française de Développement, also commended BOI’s growing role in advancing industrialisation and sustainable economic development, describing the new impact report as an important step towards evidence-based development financing and greater institutional accountability.
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Caption
From left, Segun Ajayi-Kadiri, Director-General, Manufacturers Association of Nigeria (MAN); Adeyemi Adeniran, Statistician-General/CEO, National Bureau of Statistics (NBS); Olasupo Olusi, Managing Director/CEO, Bank of Industry (BOI); Doris Uzoka-Anite, Minister of State for Budget and National Planning; John Owan Enoh, Minister of State for Industry; and Charles Odii, Director-General, Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), during the launch of the Bank of Industry’s Inaugural Annual Development Impact Report (2025)