Massive BOI Investment Supports 14 Sectors, Creates 900,000 Jobs, and Advances Green Industrialization

The Bank of Industry (BOI) announced that it disbursed over N1.27 trillion to enterprises across 14 strategic sectors in 2024, directly and indirectly supporting more than 900,000 jobs across Nigeria.

BOI’s Managing Director and CEO, Dr. Olasupo, shared this during the second day of the 10th Nigeria Energy Forum (NEF), held virtually in Lagos. The announcement was presented by Ms. Mabel Ndagi, BOI’s Executive Director for Public Sector and Intervention Programmes.

Dr. Olasupo emphasized that BOI’s interventions remain central to Nigeria’s industrial growth, enabling businesses to expand production, enhance value addition, and create sustainable employment opportunities. He highlighted the N200 billion Federal Government MSME Intervention Fund managed by BOI, which provides affordable financing to small businesses through three key components: the N50 billion Presidential Conditional Grant Scheme (PCGS), N75 billion MSME Intervention Fund, and N75 billion Manufacturing Sector Fund.

The bank is also scaling investments in green finance, circular economy solutions, renewable energy integration, energy efficiency, and low-carbon industrial processes, underscoring its leadership in financing climate-smart industrial practices.

At NEF, All On, an impact investment company, highlighted its Tertiary Institutions Energy Innovation Challenge (TIEC 3.0), designed to accelerate student-led energy innovations for underserved communities. Winners, including Green Preserve (Cross River State University), AI Hybrid Agro Dryer (University of Lagos), and Keytric (University of Port Harcourt), have made notable progress in product development, community outreach, and business structuring through mentorship support.

BOI’s extensive interventions demonstrate a commitment to fostering industrial development, job creation, and sustainable energy solutions, positioning Nigeria for accelerated economic growth and inclusive development.

This initiative reflects BOI’s strategic role in financing small and medium enterprises, promoting clean energy innovation, and supporting youth and women’s participation in the economy.