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

BOI’s Managing Director and Chief Executive Officer, Dr. Olusupo Olusi, disclosed this during the second day of the 10th Nigeria Energy Forum (NEF), held virtually in Lagos. He was represented by Ms. Mabel Ndagi, BOI’s Executive Director for Public Sector and Intervention Programmes.

Dr. Olusi highlighted that BOI’s interventions continue to play a pivotal role in industrial development, enabling businesses of all sizes to expand production, enhance value addition, and create employment opportunities.

He emphasized the implementation of the N200 billion Federal Government MSME Intervention Fund, managed by BOI, which provides affordable financing to small businesses through three key components:

• N50 billion Presidential Conditional Grant Scheme (PCGS)
• N75 billion MSME Intervention Fund
• N75 billion Manufacturing Sector Fund

Olusi further noted that the bank is scaling up investments in green finance, circular economy solutions, renewable energy integration, energy efficiency, and low-carbon industrial processes.

Ms. Ndagi stressed that BOI’s initiatives underscore its leadership in financing renewable energy infrastructure, clean manufacturing, and climate-smart industrial practices.

At the forum, All On, an impact investment company, also highlighted efforts to promote clean energy innovation through the Tertiary Institutions Energy Innovation Challenge (TIEC 3.0). Ms. Jadesola Rawa, Senior Associate in Grants Management at All On, said the initiative, co-created with NEF, aims to accelerate student-led energy innovations for underserved communities.

NEF Director of Innovation, Mrs. Bamise Olanrewaju, shared that winners of the challenge—including Green Preserve (Cross River State University), AI Hybrid Agro Dryer (University of Lagos), and Keytric (University of Port Harcourt)—have reported progress in product development, community outreach, and business structuring following mentorship support.