Bank of Industry (BOI) has disclosed that its investments in power and rural infrastructure electrified more than 100 rural communities, connected 11,777 new customers to electricity and created 1.68m Jobs in 2025, underscoring its role in expanding energy access across Nigeria.
The bank made this known in its 2025 Development Impact Report posted on its website showed that its interventions created and retained 1.68 million jobs, linked 47,508 smallholder farmers to processing facilities, and supported businesses across key sectors of the economy.
According to the report, the power and utilities sector ranked among BOI’s strongest-performing areas, with financing provided to eight businesses to accelerate rural electrification and the deployment of mini-grids.
“The Power and Utilities sector emerged as a top performer, electrifying 100 rural areas and connecting 11,777 new customers through mini-grids,” the report stated, adding that 80 per cent of the supported projects adopted cleaner production and emissions control measures.
The report said BOI’s interventions extended beyond the power sector, contributing to industrialisation and economic inclusion across priority sectors.
In agriculture and food processing, the bank linked 47,508 smallholder farmers to value chains, while supported firms recorded an average revenue growth of 17.4 per cent. It added that the agro-processing sector created 2,491 jobs, with more than 71 per cent of supported firms adopting cleaner production methods.
BOI also disclosed that it invested N4.6 billion to modernise six manufacturing factories, resulting in capacity increases of more than 20 per cent in 63 per cent of the supported firms and sustaining 6,178 jobs.
The report further showed that the transport and logistics sector received N10 billion in financing, creating 516 net jobs, while the pharmaceutical sector introduced nine new product lines and employed 182 women.
According to the report, the bank mobilised €210 million, equivalent to about N350 billion, from international funding partners in 2025, with €125 million allocated to healthcare and €85 million to agriculture and food security.
It also managed N73 billion in matching funds on behalf of state governments and institutional partners and served as the lead implementation agency for the Federal Government’s N200 billion MSME Industrialisation Fund, achieving a disbursement rate of over 95 per cent.
The report added that BOI’s Rural Area Programme on Investment for Development disbursed N6.01 billion between 2024 and 2025 to support 822 enterprises, leading to the establishment of 880 rural enterprises and the creation of more than 8,000 direct and indirect jobs nationwide.
Other interventions included N35 billion for broadband infrastructure, N30 billion for mini-grid projects in Lagos, Imo and Rivers states, N150 billion in financing for women-owned enterprises and N12 billion for youth-owned businesses.
Commenting on the report, BOI Managing Director and Chief Executive Officer, Olasupo Olusi, said the institution had shifted its focus from the volume of loans disbursed to the measurable development impact of its interventions.
He said 2025 marked the first full year of implementing the bank’s 2025-2027 Corporate Strategy and a deliberate move towards measuring development outcomes.
Olusi disclosed that BOI disbursed N644.9 billion to nano, micro, small, medium and large enterprises in 2025, with more than 30 per cent of the funding directed to nano and MSMEs. He added that the bank exceeded its targets across its six strategic priorities of infrastructure, MSMEs, digital economy, youth, gender and climate, while expanding financing to underserved communities through its nationwide network.
According to him, BOI remains committed to supporting enterprises and value chains that create jobs, promote local value addition and strengthen Nigeria’s industrial competitiveness in line with the Federal Government’s economic development agenda.
