Tinubu hails Bank of Industry’s record N636bn disbursement, fueling 1.6m jobs in 2025

Abdullateef Fowewe

President Bola Tinubu has celebrated a landmark achievement by the Bank of Industry (BOI), which disbursed a record N636 billion to over 7,000 Nigerian enterprises in 2025—the highest annual financing in its history.

In a statement on X, Tinubu detailed the breakdown, “N202 billion went to agro-allied industries. N100 billion to critical infrastructure. N79 billion to manufacturing. N77 billion to extractive industries. N55 billion to services.”

He emphasised the real-world impact, stating, “These are not abstract numbers. They represent factories expanding capacity, farmers linked to processors, power extended to communities, and businesses strengthened across our nation.”

The funding extended across business scales, with “N51 billion supported nano enterprises. N32 billion went to micro businesses. N178 billion strengthened SMEs. N375 billion financed large industries.”

Targeted support included N12 billion for youth-owned enterprises and a dedicated N10 billion facility for women entrepreneurs.

Tinubu highlighted job creation, noting “1.6 million jobs were created and retained,” alongside 957,400 beneficiaries under the Presidential Conditional Grant Scheme.

“In a challenging global environment, Nigeria chose reform, discipline, and productive investment.”

“When institutions are strengthened and aligned with national priorities, Nigeria delivers. Our commitment to industrial growth is firm, and the results are measurable,” he wrote.

The president framed this as part of broader economic strategy, “Access to affordable, long-term capital is essential for economic transformation. Production remains our pathway to prosperity.”

He concluded, “Our Renewed Hope journey is moving from stabilisation to structured execution and growth. The impact is clear, and the work continues.”