The Bank of Industry (BOI) has revealed that it disbursed over N1.27 trillion to enterprises across 14 key sectors in 2024 — a major push that directly and indirectly supported more than 900,000 jobs across the country.
BOI’s Managing Director/CEO, Dr. Olasupo Olusi, made this known during Day 2 of the 10th Nigeria Energy Forum (NEF), held virtually in Lagos. He was represented by Ms. Mabel Ndagi, Executive Director for Public Sector and Intervention Programme.
Olusi explained that BOI’s various intervention programmes continue to fuel Nigeria’s industrial growth by helping businesses expand production, increase value addition, and create more employment opportunities nationwide.
A major highlight was the ongoing implementation of the N200 billion Federal Government MSME Intervention Fund, which BOI manages. The fund is structured into three key components — the N50bn Presidential Conditional Grant Scheme (PCGS), N75bn MSME Intervention Fund, and N75bn Manufacturing Sector Fund — all designed to provide affordable financing for small businesses.
Olusi added that BOI is also scaling up investments in green finance, circular economy solutions, renewable energy systems, energy efficiency, and low-carbon industrial processes, aligning with global sustainability trends.
Speaking at the forum, Ms. Ndagi noted that BOI’s renewed focus further strengthens its leadership in supporting projects related to renewable energy, clean manufacturing, and climate-smart industrialisation.
At the same event, All On, an impact investment company, highlighted its contribution to 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 — developed in partnership with NEF — aims to accelerate student-led energy innovations for underserved communities.
Mrs. Bamise Olanrewaju, NEF’s Director of Innovation, added that winners of the challenge — Green Preserve (Cross River State University), AI Hybrid Agro Dryer (University of Lagos), and Keytric (University of Port Harcourt) — have recorded significant progress in product development, community engagement, and business structuring after undergoing mentorship.
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