The Bank of Industry (BoI) has disclosed that it disbursed N645 billion to Micro, Small and Medium Enterprises (MSMEs) in 2025, impacting approximately 1.6 million jobs in Nigeria. This revelation was made by the Managing Director of BoI, Dr. Olasupo Olusi, during the 3rd BOI 2026 Annual Public Lecture in Abuja. The lecture, themed "Rethinking Capital for Inclusive Economic Transformation," aimed to foster informed discussions on issues shaping Nigeria's economic and industrial development.
Dr. Olusi stated that the bank supported over 12,000 businesses in 2025, with the disbursed funds contributing significantly to Nigeria's economic growth. He emphasized that Nigeria needs capital to support long-term industrial growth, reach underserved businesses, and attract private investment into productive sectors. The BoI Managing Director highlighted the importance of careful consideration in mobilizing, structuring, and deploying capital to achieve desired development outcomes.
The Annual Public Lecture, established in 2024, serves as a platform for experts to discuss pressing issues related to Nigeria's economic and industrial development. This year's lecture focused on rethinking capital for inclusive economic transformation, underscoring the need for effective capital mobilization and deployment. Dr. Olusi stressed that these issues are central to BoI's mandate to drive Nigeria's sustainable and inclusive industrial development.
The guest speaker at the event, Asad Alam, a former World Bank Director and Adjunct Professor at Georgetown University, called for stronger collaboration among development institutions. He emphasized the need to mobilize capital to the real sectors that will contribute to Nigeria's economic growth and development. Alam's remarks highlighted the importance of collective efforts in addressing Nigeria's economic challenges.
Dr. Olusi further stated that Nigeria needs to mobilize more long-term capital, extend financing to underserved businesses and sectors, and use development finance to unlock greater private investment. He stressed that financing must translate into measurable economic impact, aligning with BoI's goals for sustainable and inclusive industrial development.
The BoI's efforts to support MSMEs and drive economic growth align with the bank's mandate to spearhead Nigeria's industrial development. By disbursing N645 billion to MSMEs in 2025, BoI has demonstrated its commitment to fostering economic growth and job creation. The bank's initiatives aim to address the challenges faced by MSMEs in accessing capital and to promote sustainable economic development.
The impact of BoI's disbursements is evident in the 1.68 million jobs created, according to Dr. Olusi. The bank's support for MSMEs has contributed significantly to Nigeria's economic growth, and its efforts to mobilize capital for inclusive economic transformation are expected to yield long-term benefits for the country's economy.
Key points
- BoI disbursed N645 billion to MSMEs in 2025, supporting 1.6 million jobs.
- Nigeria needs to mobilize more long-term capital to drive inclusive economic transformation.
- BoI supported over 12,000 businesses in 2025, contributing to Nigeria's economic growth.
