By Iroyin Yoruba Television
LAGOS, Nigeria — October 23, 2026
The Bank of Industry (BoI) disbursed a record ₦644.9 billion to businesses across Nigeria in 2025, reaching 12,501 enterprises and creating or supporting an estimated 1.68 million jobs, according to figures released by the development finance institution.
The bank’s Managing Director and Chief Executive Officer, Olasupo Olusi, disclosed the figures at a media roundtable with business editors in Lagos on Thursday. He said the amount disbursed was 26 per cent higher than the ₦510.9 billion provided in 2024.
The figures were contained in the bank’s 2025 Annual Development Impact Report. They reflect the scale of its financing activities across businesses of different sizes and sectors, although the reported jobs figure combines employment created with jobs supported.
According to the bank, large enterprises received 59 per cent of the financing, while small and medium-sized enterprises accounted for 29 per cent. Nano businesses received seven per cent, and micro businesses accounted for the remaining five per cent.
Micro, small and medium-sized enterprises (MSMEs) are important to Nigeria’s economy because they provide goods and services, sustain livelihoods and create opportunities for workers and entrepreneurs. Access to affordable finance can help such businesses acquire equipment, expand production, improve distribution and employ additional workers.
Olusi said MSMEs received 41 per cent of the bank’s funding in 2025, exceeding its stated target of 35 per cent. Women-owned businesses received ₦120.9 billion, while women-led businesses and youth-led businesses each accounted for 20 per cent of total funding, according to the figures disclosed.
The bank also reported deploying more than ₦108 billion to infrastructure projects. This included 100 mini-grids that connected 11,777 households and businesses to electricity, supporting efforts to improve power access for communities and commercial activities.
Reliable electricity is a major consideration for manufacturers, processors, retailers and service providers. Businesses that experience frequent outages may face higher operating costs when they rely on generators or other alternative power sources. Infrastructure financing that expands dependable electricity access can therefore help improve operating conditions, though the actual benefits vary by location and business.
The BoI said it was implementing its 2025–2027 corporate strategy, which aims to double its loan book, disbursements and impact instruments within three years. Its priorities include MSME finance, infrastructure, women and gender, youth and skills development, climate and sustainability, and the digital economy.
The institution has also raised funding from domestic and international sources to support its lending activities. Olusi said the bank closed a €1.879 billion syndicated facility in 2024 and secured €210 million from international development partners in 2025. In 2026, it raised a ₦250 billion development bond and secured additional financing for agriculture and healthcare manufacturing.
The bank further reported delivering more than 95 per cent of the Federal Government’s ₦200 billion intervention programme, reaching 957,400 grant beneficiaries, 9,000 MSMEs and 104 large manufacturers. Through its Rural Area Programme on Investment for Development (RAPID), it disbursed ₦6.5 billion to 880 rural enterprises across the 36 states and the Federal Capital Territory, supporting more than 8,000 jobs.
Despite the reported financing growth, the bank acknowledged that businesses faced significant challenges in 2025. High inflation, elevated interest rates and exchange-rate volatility increased operating costs for MSMEs, while informal business structures and weak financial records limited some enterprises’ ability to grow.
These challenges underline the difference between making finance available and ensuring that businesses can use it to become sustainable. Access to loans must be accompanied by viable business plans, reliable markets, effective management and an economic environment that allows enterprises to repay their obligations and reinvest in growth.
Olusi said the bank expects its impact in 2026 to exceed its 2025 performance, with 2027 designated as the final year of its current corporate strategy. The institution is also working with the Federal Ministry of Industry, Trade and Investment on a National Industrial Finance Compact intended to attract additional long-term capital into industry.
The reported results indicate that the BoI expanded its financing during 2025, but the full economic impact will depend on how the supported businesses perform over time. Independent assessment of job retention, business survival, productivity and loan repayment would provide a fuller picture of the programme’s lasting effects.
For entrepreneurs seeking development finance, the figures also highlight the importance of keeping accurate financial records, demonstrating business viability and understanding the terms attached to funding. As the bank continues its strategy, the key test will be whether its financing translates into durable businesses, stronger local production and sustainable employment across Nigeria.