The Bank of Industry (BoI) says it disbursed over N1.27 trillion to enterprises across 14 sectors directly and indirectly in 2024.
The disbursements showcase the bank’s commitment to driving economic growth and development, Olasupo Olusi, chief executive officer (CEO) of BoI, said at the 10th Nigeria energy forum (NEF) held virtually on Tuesday in Lagos.
Represented by Mabel Ndagi, executive director of the public sector and interventions programmes directorate at BoI, Olusi said the bank also “supported more than 900,000 jobs in 2024”.
The CEO said the funds disbursed include the N200bn MSME intervention fund, N50 billion presidential grant, N75 billion MSME fund, and N75 billion manufacturing sector fund.
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He said the bank has been at the forefront of Nigeria’s industrial transformation, supporting enterprises of all sizes to expand production, enhance value addition, and drive employment creation.
“The bank is also expanding investments in green finance and circular economy solutions, supporting industries that integrate renewable energy, energy efficiency, and low-carbon processes,” Olusi was quoted as saying in a NAN report.
The CEO added that the BoI would continue to dominate a leadership role in financing renewable energy infrastructure, clean manufacturing, and climate-smart industrial practices.
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Inga Stefoniwicz, head of green growth and digital economy, European Union (EU) delegation in Nigeria, said the EU plans to invest in smart, clean, and secure infrastructure in energy and other key sectors worldwide to tackle inequalities and drive sustainable development goals.
According to Stefoniwicz, the Africa-EU green energy initiative will increase the number of Africans, businesses, and industries having access to affordable, modern, and sustainable energy services.
“It will also support investments in renewable energy generation and promote energy efficiency so that by 2030, it will provide at least 100 million people with access to electricity,” the EU delegate said.
“The EU has been the biggest donor partner in terms of grants to Nigeria’s power sector (with about €300 million since 2008 and including the current NIP).”
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On his part, John Sloan, the economic affairs officer, Economic Commission for Africa (ECA), said Africa’s green energy transition can drive industrialisation and create jobs in mineral-producing communities.
Sloan added that special economic zones are engines of job creation, fostering inclusive industrialisation by providing sustainable employment opportunities for the local workforce.
Also speaking, Adekunle Makinde, the NEF co-chair, said sustainable lithium production and industrialisation in Nigeria can drive economic growth, create jobs, and protect the environment, aligning with global sustainable development goals.
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