BoI Disburses N645 Billion to MSMEs, Boosting Jobs

Dr. Olasupo Olusi, the Managing Director of the Bank of Industry (BoI), announced that the bank disbursed N645 billion to Micro, Small and Medium Enterprises (MSMEs) in 2025, which positively impacted around 1.68 million jobs in Nigeria. This disclosure was made during the 3rd BOI Annual Public Lecture held in Abuja, themed “Rethinking Capital for Inclusive Economic Transformation.” Established in 2024, this lecture series aims to facilitate informed discussions on Nigeria's economic and industrial development.

Dr. Olusi emphasized the need for Nigeria to mobilize more long-term capital, extend financing to underserved businesses, and ensure that financing leads to measurable economic impact. The guest speaker, Asad Alam, a former World Bank Director and Adjunct Professor at Georgetown University, advocated for stronger collaboration among development institutions to effectively mobilize capital for sectors that contribute to Nigeria's economic growth.