Bank of Industry Disburses N644.9bn, Creates 1.68M Jobs
The Bank of Industry (BoI) disbursed a record N644.9 billion to businesses in 2025, marking a 26% increase from N510.9 billion in 2024, and supporting or creating 1.68 million jobs. Olasupo Olusi, Managing Director and CEO of BoI, announced this at a media roundtable in Lagos, referencing the bank's 2025 Annual Development Impact Report.
A total of 12,501 businesses benefited from this financing, with large enterprises receiving 59% of the funds, while small and medium enterprises accounted for 29%. Women-owned businesses received N120.9 billion, and the bank also allocated over N108 billion to infrastructure projects.
BoI met its disbursement targets for climate and digital financing as part of its 2025–2027 corporate strategy, which aims to double its loan book and impact instruments within three years. The report identified challenges such as inflation and high interest rates affecting MSMEs.
BoI expects to exceed its 2025 performance before consolidating achievements in 2027.
Plus234Feed summary based on reporting from Legit.ng. Read the original report below.
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