BOI Electrifies 100 Communities, Connecting 11,777 Users

The Bank of Industry (BOI) has successfully electrified 100 communities and connected 11,777 new power users through its mini grid projects, as detailed in its 2025 development impact report. This initiative has created and retained 1.68 million jobs and supported 47,508 smallholder farmers.

The report indicates that the BOI's interventions have led to an average revenue growth of 17.4% in the agro-processing sector, creating 2,491 jobs. The bank has mobilized N210 million and N350 billion in international funds, with N125 million earmarked for healthcare and N85 million for agricultural food security.

The BOI's focus on rural electrification is part of its broader strategy to enhance industrialization and economic inclusion, aiming for a 25% contribution of manufacturing to GDP. The bank has disbursed N644.9 billion across various enterprises, with 30% directed towards nano and micro small and medium enterprises (MSMEs).

Olasupo Olusi, the Managing Director and Chief Executive Officer of BOI, emphasized the importance of measuring developmental impact in their funding strategies.