The management of Bank of Industry on Tuesday said the bank disbursed over N1.27 trillion to enterprises across 14 sectors, directly and indirectly supporting more than 900,000 jobs in 2024 alone.
Dr. Olasupo Olusi, BOI CEO represented by Ms Mabel Ndagi, the Executive Director, Public Sector and Intervention Programme, BOI disclosed this during the 10th Nigeria Energy Forum (NEF) Day 2 edition held virtually in Lagos.
According to her, BOI 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.
“Ndagi said the N200bn Federal Government MSME Intervention Fund, managed by BOI, provides affordable financing to small businesses nationwide through three dedicated windows.
“N50bn for the Presidential Conditional Grant Scheme (PCGS), N75 billion for the MSME Intervention Fund, and N75 billion for the Manufacturing Sector Fund.
Ndagi said that 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.
According to her, this ambition reflects the Bank’s leadership in financing renewable energy infrastructure, clean manufacturing, and climate smart industrial practices.
Ms Jadesola Rawa, Senior Associate, Grants Management, All On, an impact investment firm, said the Tertiary Institutions Energy Innovation Challenge (TIEC 3.0) was co-created by All On as Principal TIEC3.0 Sponsor and implemented by NEF to accelerate student-led energy innovation solutions for underserved and un-served communities in Nigeria.
Dr Mrs Bamise Olanrewaju, NEF Director of Innovation, said the All On TIEC3.0 Impact Panel featured winning teams represented by their CEOs, Febechi Uzomadike (Green Preserve, Cross Rivers State University), Justice Esiri (AI Hybrid Agro Dryer, University of Lagos) and Fubara David (Keytric, University of Port Harcourt).
“The All On TIEC3.0 winners reported progress on product enhancements, community engagement and business structuring, using insights received from ex- pert assessors and mentors”, she said.
Inga Stefoniwicz, Head of Green Growth and Digital Economy, European Union Delegation in Nigeria said EU would invest in smart, clean and secure infrastructure in energy and other key sectors across the world to tackle inequalities and put the Sustainable Development Goals back on track.
According to her, Africa-EU Green Energy Initiative would increase the number of African people, 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 peo- ple with access to electricity.
“The EU has been the biggest donor partner in terms of grants to the Nigeria’s power sector (with about EUR 300 million Euros since 2008 and including the current NIP,” she said.
Mr John Sloan, Economic Affairs Officer, Economic Commission for Africa (ECA) said there is great potential for the green energy transition to yield significant opportunities for industrialization and job creation in mineralproducing communities across Africa.
According to him, special economic zones are engines of job creation, fostering inclusive industrialization by providing sustainable employment opportunities for the local workforce.
Engr. Adekunle Makinde, NEF Co-Chair said sustainable production, value addition and industrialization of lithium in Nigeria will foster economic growth, create quality jobs and enhance environmental protection.
Makinde added that adoption and localization of both the United Nations Resource Management Systems and African Green Minerals strategies in minerals processing projects in Nigeria will strengthen capacity building and contribute to achieving global sustainable development goals.
Ms Xandra Weinbeck, the Senior Business Development Manager, Materials Circular Economy, Invest NL, said supporting industry in critical raw material economy enhances economic resilience and sustainability.
In his remarks, Dr. Daniel Adeuyi, NEF Group Chairman said that 10th Africa Youth Energy Innovation Challenge (AEIC) organized by NEF and co-supported by GEF-SGP UNDP, Bank of Industry and PCNG-I, attracted over 400 entries from 38 out of 54 countries in Africa, and over 30 per cent of participating teams were led by young women. “The 2025 AEIC finalists were held during NEF2025 Day 2, comprising 6 independent expert assessors from the global energy community.
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