The Bank of Industry (BOI) has announced that it disbursed over N1.27 trillion to enterprises across 14 strategic sectors of the economy in 2024, directly and indirectly supporting more than 900,000 jobs nationwide.
BOI’s Managing Director/Chief Executive Officer, Dr. Olasupo Olusi, revealed this on Tuesday during Day 2 of the 10th Nigeria Energy Forum (NEF), held virtually in Lagos. He was represented by Ms. Mabel Ndagi, the bank’s Executive Director for Public Sector and Intervention Programmes.
Olusi said the bank’s interventions continued to play a vital role in advancing Nigeria’s industrial development by enabling micro, small, medium, and large enterprises to expand production, enhance value addition, and create sustainable jobs.
Speaking on the execution of the N200 billion Federal Government MSME Intervention Fund managed by BOI, he explained that the programme provides accessible financing to small businesses through three components: the N50 billion Presidential Conditional Grant Scheme (PCGS), the N75 billion MSME Intervention Fund, and the N75 billion Manufacturing Sector Fund.
He added that the bank is intensifying its investments in green finance, circular economy initiatives, renewable energy integration, energy efficiency, and low-carbon industrial processes.
Ndagi noted that these efforts reaffirm BOI’s leadership in supporting renewable energy infrastructure, clean manufacturing, and climate-smart industrial practices.
At the forum, impact investment company All On highlighted its commitment to accelerating clean energy innovation through the Tertiary Institutions Energy Innovation Challenge (TIEC 3.0).Ms. Jadesola Rawa, Senior Associate for Grants Management at All On, said the initiative co-created with NEF aims to support student-led energy solutions designed for underserved communities.
NEF’s Director of Innovation, Mrs. Bamise Olanrewaju, said the challenge winners Green Preserve (Cross River State University), AI Hybrid Agro Dryer (University of Lagos), and Keytric (University of Port Harcourt) have recorded progress in product development, community outreach, and business structuring following mentorship support.