Tinubu Hails BOI’s Record N636bn Loans as Validation of Economic Reforms

President Bola Ahmed Tinubu has lauded the Bank of Industry (BOI) for disbursing a record N636 billion to businesses in 2025, describing the milestone as proof that Nigeria’s economic reform agenda is boosting development finance and unlocking capital for productive sectors.

The N636 billion in loans reached over 7,000 enterprises nationwide. Breakdown of the financing shows N202 billion went to agro-allied businesses, N100 billion to critical infrastructure such as broadband, power, aviation, and transportation, N79 billion to manufacturing, N77 billion to extractive industries, and N55 billion to the services sector. Additionally, the Bank deployed N73 billion in managed and matching funds for state governments and institutional partners.

President Tinubu emphasized that the financing strengthened productive capacity across Nigeria, supporting agro-processing, manufacturing, infrastructure delivery, and enterprise empowerment, even amid global financing constraints.

Disbursement by business size reflected inclusion: nano enterprises received N51 billion, micro businesses N32 billion, small and medium enterprises N178 billion, and large enterprises N375 billion. Under the Federal Government’s N200 billion MSME intervention programme, BOI achieved over 95% performance, benefiting 957,400 entrepreneurs in 2025.

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The Bank’s financing efforts also generated and preserved approximately 1.6 million jobs, assisted more than 7,000 MSMEs, and supported 570 startups. Inclusive initiatives included the Guaranteed Loans for Women Programme (N10 billion), youth-focused financing (N12 billion), and the Rural Area Programme on Investment for Development, which funded 880 rural enterprises with over N6.5 billion.

Strategic projects under BOI’s 2025 programme included upgrading a tomato processing facility from 3.1 to 10 metric tonnes per hour, linking 47,508 smallholder farmers to formal value chains, and deploying 100 mini-grids, connecting 11,777 new electricity customers. BOI-backed projects contributed to an estimated 20,000-tonne reduction in annual carbon emissions.

The Bank also advanced digital and creative industries, preparing 500 founders for investment, funding 100 tech ventures, and training 400 youths, impacting over 300,000 Nigerians. Despite macroeconomic pressures, BOI maintained strong asset quality, recording a non-performing loan ratio below 1.5% and mobilizing additional funds, including a €2 billion syndicated facility in 2024 and €210 million from international partners in 2025.

President Tinubu highlighted BOI’s recognition as Nigeria’s first National Implementing Entity to the UN Adaptation Fund and praised its achievements in sustainable finance and financial inclusion. He reiterated that the government will continue to consolidate reforms, deepen institutional discipline, and expand access to finance to accelerate industrialisation and inclusive growth nationwide.