BOI's N644.9bn Financing Creates 1.68 Million Jobs

On Thursday, the Bank of Industry (BOI) launched its first annual development impact report in Abuja, disclosing that its financing of N644.9 billion has resulted in the creation of 1.68 million jobs. Olasupo Olusi, the Managing Director and Chief Executive Officer of BOI, described the report as a landmark in the bank's evolution, highlighting a deliberate transition towards measuring real development outcomes rather than just the size of its loan portfolio.

The year 2025 is marked as significant for the bank, coinciding with the implementation of its 2025-2027 corporate strategy, which prioritizes socio-economic impact. The bank allocated 30% of its financing to nano, micro, small, and medium enterprises (MSMEs), with 20% directed towards women and youth-led businesses.

The report also noted that BOI exceeded its targets in infrastructure development and financing for MSMEs. John Enoh, Minister of State for Industry, Trade, and Investment, welcomed the report as a new benchmark for public institutions, aligning BOI's interventions with President Bola Tinubu's Renewed Hope Agenda.