Tinubu Hails BOI Over ₦636bn Disbursement To Businesses, Says 1.6m Jobs Created

President Bola Tinubu has commended the Bank of Industry (BOI) for disbursing a record ₦636 billion to businesses across Nigeria in 2025, describing the development as a major boost to economic growth, job creation and industrial expansion.

In a statement released by the Presidency, Tinubu praised the bank’s leadership for supporting small and medium-sized enterprises (SMEs), manufacturers and entrepreneurs through targeted financing initiatives. He said the intervention has helped strengthen local production, expand access to capital and stimulate innovation across key sectors of the economy.

According to the President, the disbursement contributed to the creation of about 1.6 million jobs, both directly and indirectly, as businesses scaled operations and invested in new opportunities. He noted that empowering local industries remains central to his administration’s economic agenda, especially in reducing unemployment and promoting inclusive growth.

Officials of the Bank of Industry explained that the funds were channelled into sectors such as manufacturing, agro-processing, renewable energy, digital services and youth-led enterprises. The bank added that many beneficiaries received low-interest loans and technical support designed to improve productivity and sustainability.

Economic analysts say the scale of the disbursement reflects increased government focus on development finance institutions as tools for driving industrialisation. However, they also stressed the need for transparency, monitoring and measurable impact to ensure that funds reach genuine businesses and deliver long-term economic value.

The Presidency reaffirmed its commitment to strengthening financial institutions that support local enterprises, noting that continued collaboration between government agencies and the private sector will be key to sustaining growth and expanding opportunities for Nigerian businesses.