Tinubu hails BOI’s record N636bn business loans in 2025

President Bola Ahmed Tinubu has praised the Bank of Industry (BOI) for disbursing a record N636 billion in loans to Nigerian businesses in 2025, describing the achievement as evidence of the success of his administration’s economic reform agenda.

In a statement issued by his Special Adviser on Information and Strategy, Bayo Onanuga, on Thursday, the President said the financing milestone reflects the impact of macroeconomic reforms in strengthening development finance institutions and unlocking capital for productive sectors.

The funds were distributed to more than 7,000 enterprises across the country, with N202 billion allocated to agro-allied industries, N100 billion to critical infrastructure including broadband, power, aviation, and transportation, N79 billion to manufacturing, N77 billion to extractive industries, and N55 billion to services.

Additionally, BOI deployed N73 billion in managed and matching funds on behalf of state governments and institutional partners.

President Tinubu highlighted that the disbursement strategy deliberately included businesses of all sizes.

Nano enterprises received N51 billion, micro businesses N32 billion, small and medium enterprises N178 billion, while large enterprises accessed N375 billion.

The President also acknowledged BOI’s performance under the Federal Government’s N200 billion MSME intervention programme, with over 95 percent disbursement and the Presidential Conditional Grant Scheme reaching 957,400 beneficiaries in 2025.

The Bank’s financing activities reportedly contributed to the creation and retention of approximately 1.6 million jobs and supported over 7,000 MSMEs and 570 startups.

Inclusive financing initiatives were emphasized, with women-owned enterprises accessing N10 billion through the Guaranteed Loans for Women Programme, youth-owned businesses receiving N12 billion, and 880 rural-based enterprises benefiting from N6.5 billion under the Rural Area Programme on Investment for Development.

Strategic interventions included upgrading a tomato processing facility from 3.1 to 10 metric tonnes per hour, connecting 47,508 smallholder farmers to formal value chains, deploying 100 mini-grids providing electricity to 11,777 new customers, and reducing carbon emissions by over 20,000 tonnes annually.

BOI also supported 500 founders through the Investment in Digital and Creative Enterprises programme, funded 100 technology ventures, and trained 400 youths in innovation initiatives impacting over 300,000 Nigerians.

The President lauded BOI’s strong asset quality, with a non-performing loan ratio below 1.5 percent, and recognized the bank’s success in securing €2 billion in syndicated funding in 2024 and an additional €210 million from international partners in 2025.

President Tinubu said, “Development finance must be disciplined, measurable, and aligned with national priorities.

“What we are witnessing is the transition from strategy to scale. Our economic transformation will be built on production, value addition, and enterprise growth.”

He also welcomed BOI’s designation as Nigeria’s first National Implementing Entity to the United Nations Adaptation Fund and its recognition for sustainable finance and financial inclusion, noting that these achievements enhance Nigeria’s global development finance standing.

The President reaffirmed his administration’s commitment to consolidating reform gains and expanding credit access to enterprises to accelerate industrialization and inclusive economic growth across the country.