Bank of Industry lends a record ₦644.9bn, backing 1.68m jobs
Nigeria's development bank says 2025 lending rose 26%, with 41% going to small businesses and ₦120.9bn to women-owned firms.
Lagos — Nigeria's Bank of Industry (BOI) disbursed ₦644.9 billion to 12,501 businesses in 2025, up 26% from ₦510.9 billion the year before and the highest in its history, managing director Olasupo Olusi told business editors in Lagos on Thursday, Premium Times reports. The bank says the lending created or supported 1.68 million jobs.
Beating its own targets
The figures are the first full year of BOI's 2025–2027 strategy, which aims to double its loan book and impact in underserved segments within three years.
- Small businesses: 41% of funding, against a 35% target.
- Women-owned businesses: 20% (₦120.9 billion), against a 15% minimum.
- Youth-owned businesses: 20%, meeting the target.
- Infrastructure: more than ₦108 billion, including 100 mini-grids that connected 11,777 homes and businesses, and broadband for more than 700 communities.
- Agriculture: about ₦213 billion to agro-allied firms, linking 47,508 smallholder farmers to processors.
Its RAPID programme put ₦6.5 billion into 880 rural enterprises in all 36 states and the FCT.
New money for factories
BOI says it has raised more than €2.2 billion and ₦250 billion over three years, including an oversubscribed ₦250 billion development bond this year and two new European Investment Bank facilities: €85 million for agriculture and €50 million for local healthcare manufacturing. It says it has also delivered more than 95% of the federal government's ₦200 billion intervention fund, reaching 957,400 grant recipients, 9,000 small firms and 104 large manufacturers.
Next, the bank is working with the trade ministry on a National Industrial Finance Compact to bring more long-term capital into industry.
Source: Premium Times, 23 October 2026.
