By Bamidele Famoofo
WorldStage– The Bank of Industry (BoI), Nigeria’s largest development finance institution, has launched the inaugural edition of its Annual Development Impact Report, marking a major milestone in the institution’s evolution from measuring success by the volume of loans disbursed to assessing the tangible socio-economic impact of its interventions.
Speaking at the unveiling in Abuja on Thursday, Dr Olasupo Olusi, managing director and chief executive officer of BOI, described 2025 as a defining year for the development finance institution, noting that it was the first full year of implementing the bank’s 2025–2027 Corporate Strategy.
According to him, the strategy repositioned BOI to prioritise measurable development outcomes alongside financial performance.
Olusi disclosed that the bank disbursed a total of N644.9 billion to nano, micro, small, medium and large enterprises across Nigeria during the year under review.
He revealed that more than 30 per cent of the financing was channelled to nano, micro, small and medium enterprises (MSMEs), while over 20 per cent supported women- and youth-led businesses, underscoring BOI’s commitment to inclusive economic growth.
According to him, the bank’s interventions generated an estimated 1.68 million jobs – comprising direct, indirect and supported employment across multiple value chains nationwide.
He added that financing was extended across 14 strategic sectors of the economy in line with Nigeria’s industrialisation agenda.
“2025 marked a defining moment for BOI. Beyond financing businesses, we deliberately shifted our focus to measuring the real development impact of our interventions.
“Most importantly, our investments translated into tangible outcomes by supporting millions of jobs, reducing carbon emissions, strengthening digital and other critical infrastructure, and empowering women and young entrepreneurs,” Olusi said.
He disclosed that BOI surpassed its 2025 targets across six strategic priorities: infrastructure, MSMEs, digital transformation, youth empowerment, gender inclusion and climate action.
According to him, the bank also strengthened critical value chains, expanded access to finance and invested in strategic infrastructure aimed at enhancing productivity and national competitiveness.
Olusi noted that BOI’s nationwide footprint, comprising 37 offices across 34 states, played a crucial role in ensuring broader access to development finance in both urban and underserved communities.
He also disclosed that the bank achieved over 95 per cent disbursement performance as the implementing agency for the Federal Government’s N200 billion MSME Industrialisation Fund.
Highlighting new initiatives introduced during the year, the BOI chief said the bank launched the Rural Area Programme on Investment for Development (RAPID), the Guaranteed Loans for Women (GLOW) programme, and the Investment in Digital and Creative Enterprises (iDICE) programme to address financing gaps in priority sectors.
He further disclosed that BOI financed several strategic national infrastructure projects, including more than N35 billion for broadband expansion, N30.6 billion for power infrastructure and over N20 billion for aviation sector upgrades, describing the investments as critical enablers of productivity, competitiveness and climate resilience.
To strengthen transparency and accountability, Olusi said the 2025 Development Impact Report was independently assured by KPMG and the Policy Innovation Centre (PIC).
He described the report as BOI’s institutional commitment to accountability and evidence-based development financing, adding that the newly established Development Impact Framework would enable the bank to track and measure its developmental outcomes with greater precision in the years ahead.
Looking ahead, he said BOI would focus on scaling its impact by deepening support for enterprises and value chains capable of creating sustainable jobs, promoting local value addition and strengthening Nigeria’s industrial competitiveness.
Olusi expressed appreciation to the bank’s Board of Directors, the Federal Government, development partners – including Afreximbank, the World Bank, the African Development Bank (AfDB), the European Union, UNDP and UNIDO – as well as members of staff for their continued support.
In his remarks, the Minister of State for Industry, Trade and Investment, Senator John Enoh, described BOI’s maiden Development Impact Report as a benchmark for transparency and accountability across public institutions.
He commended the report for focusing on measurable development outcomes rather than simply highlighting disbursement figures.
According to the minister, BOI’s interventions align closely with President Bola Tinubu’s Renewed Hope Agenda through expanded financing for MSMEs, support for youth-led enterprises, gender inclusion, innovation, climate resilience and technology-driven growth.
Enoh also linked the bank’s activities to the implementation of the Nigerian Industrial Policy (NIP), launched on February 17, 2026, describing the policy as a roadmap for accelerating industrial growth, job creation, value addition and export expansion.
He noted that the Ministry had released its first 90-day implementation report on the policy, highlighting progress on the African Development Bank-backed Industrial Cluster Programme, work towards establishing a proposed $350 billion MSME Development Fund, capacity-building initiatives by the National Automotive Design and Development Council (NADDC) and the Industrial Training Fund (ITF), as well as the award of African Quality Marks to 121 Nigerian companies to enhance their competitiveness under the African Continental Free Trade Area (AfCFTA).
Describing BOI as a strategic partner in Nigeria’s industrial transformation, Enoh said the ministry would continue collaborating with the bank to strengthen industrial clusters, deepen MSME competitiveness and support manufacturers through initiatives such as the forthcoming Kuku Value Chain Summit aimed at boosting value addition and export earnings.
Also speaking, the Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, represented by the Minister of State, Dr. Doris Nkiruka Uzoka-Anite, said Nigeria’s greatest investment challenge was no longer the availability of capital but the shortage of well-prepared, bankable projects.
She stressed that project preparation remains the critical bridge between national ambition and sustainable investment, noting that investment ideas must be developed into commercially viable transactions before they can drive economic growth.
Uzoka-Anite said achieving the Federal Government’s ambition of building a $1 trillion economy under the Renewed Hope Agenda and the National Development Plan (2026–2030) would require disciplined project preparation, strong investment protection mechanisms and the alignment of public resources with national development priorities.
She noted that the global development finance landscape had shifted from aid-based support to investment-led partnerships and urged development finance institutions such as BOI to position themselves as architects of investment ecosystems by promoting transparency, adopting global standards and deploying blended finance solutions that reduce investment risks for MSMEs.
The minister also called on development partners to support feasibility studies and the development of African credit rating systems to lower borrowing costs across the continent.
“Investment follows preparation, and preparation thrives on partnership,” she said.
Goodwill messages were delivered by representatives of several development partners, including the African Development Bank, the European Union, Agence Française de Développement (AFD) and other strategic partners, who commended BOI’s growing impact in advancing Nigeria’s industrial and economic transformation.
