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BOI Unveils Maiden Impact Report, Disburses N644.9bn In 2025

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The Bank of Industry (BoI) has unveiled its maiden 2025 Annual Development Impact Report, with Managing Director Dr Olasupo Olusi describing the year as a defining moment in the Nigeria’s bank history.

Olusi, at the unveiling of the report in Abuja, yesterday said the  2025 marked the first full year of executing BOI’s 2025-2027 Corporate Strategy.

According to him, it is also the year the institution deliberately shifted from measuring success by disbursement volumes to measuring the development impact created.

He disclosed that the bank disbursed a total of N644.9 billion to nano, micro, small, medium and large enterprises across Nigeria in the year under review.

”Over 30 per cent of the financing went to nano and MSMEs, while more than 20 per cent was directed to gender and youth-focused enterprises to ensure inclusive growth.

”The interventions translated into a job impact of 1.68 million jobs, comprising direct, indirect and supported jobs across value chains nationwide.

”Financing cut across 14 industrial sectors in line with Nigeria’s industrialisation priorities,”he said.

He said that BOI strengthened value chains, expanded access to finance, and invested in critical infrastructure to enhance national productivity and competitiveness.

Olusi said the interventions translated into tangible impact.

“Most importantly, our interventions translated into tangible impact by supporting millions of jobs, reducing carbon emission, strengthening digital and other infrastructure, and empowering women and youth,” he said.

According to him, BOI exceeded its 2025 targets across six thematic priorities: Infrastructure, MSMEs, Digital, Youth, Gender and Climate.

He said that the bank strengthened value chains, expanded access to finance, and invested in critical infrastructure to enhance productivity and competitiveness.

He said BOI’s nationwide presence was key to delivery, with 37 offices in 34 states enabling capital deployment in urban and underserved areas.

The bank also achieved over 95 per cent disbursement as the implementation agency for the Federal Government’s N200 billion MSME industrialisation Fund.

The managing director announced new programmes launched in 2025 to address specific gaps.

He listed them to include the Rural Area Programme on Investment for Development, RAPID, the Guaranteed Loan for Women, GLOW, and the iDICE programme for digital and creative enterprises.

He noted BOI’s role in strategic national projects, with over N35 billion for broadband rollout, N30.6 billion for power infrastructure, and over N20 billion for aviation upgrades.

He said that these underscored the bank’s contribution to productivity enablers and emission reduction.

To reinforce accountability, Olusi said the report was independently assured by KPMG and the Policy Innovation Center.

He described the report as BOI’s institutional expression of commitment to impact, and said the new Development Impact Framework will enable more precise measurement in the years ahead.

Looking to 2026, the managing director said the priority was to scale impact by deepening support for enterprises and value chains that create jobs, add value locally and strengthen competitiveness.

He thanked the board, government, development partners including Afreximbank, World Bank, AfDB, EU, UNDP and UNIDO, and staff for their collaboration.

In his remarks, the Minister of State for Industry, Sen. John Enoh, said BOI had set a reference standard for public institutions with its 2025 Annual Development Impact Report.

He said that the report focused on outcomes and real effects rather than just disbursement figures.

He said that BOI’s work aligned with with President Bola Tinubu’s development priorities through expanded MSME financing, support for youth-led enterprises, gender inclusion, and innovation-driven businesses, with emphasis on climate, sustainability, and technology.

The minister linked BOI’s interventions to the Nigerian Industrial Policy (NIP), formally launched on Feb. 17, 2026.

He described the NIP as a roadmap to reposition industry for growth, jobs, value addition and exports, and stressed that implementation, not policy alone, transforms economies.

Enoh disclosed that a 90-day implementation report on the NIP has been released.

“It highlights progress with the AfDB on the Industrial Cluster Programme, work on a proposed $350 billion MSME Development Fund, trainings by NADDC and IETF, and African quality marks awarded to 121 companies for AfCFTA competitiveness. ”

He described BOI as a strategic partner in industrial transformation, not just a financier.

He said the ministry would continue working with BOI to strengthen industrial clusters, deepen MSME competitiveness, and support manufacturers, through an upcoming value chain summit to drive value addition and export earnings.

Also speaking, the Minister of Budget and Economic Planning, Doris Uzoka-Anite, said that Nigeria’s biggest investment hurdle was not money but lack of bankable projects.

According to her project preparation is where vision becomes investment Ideas which should be turned into transactions before ambition can drive growth.

She anchored the push on the Renewed Hope Agenda and NDP 2026-2030, adding that hitting a 1 trillion dollars economy would take disciplined project prep, investment protection, and alignment of every naira with national priorities.

She said the global finance model had shifted from aid to investment-led partnerships.

”To match that, DFIs like BOI must become architects of investment ecosystems with transparency, global standards, and blended finance to de-risk MSMEs.”

The minister urged development partners to fund feasibility studies and support African credit rating systems to cut borrowing costs. “Investment follows preparation, and preparation thrives on partnership.

Good will messages were delivered by partners include the African Development Bank, European Union, Small and Medium Enterprises Development Agency, Agency France de Development among others.

 

 

 

 

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NDLEA Alerts Parents After Uncovering Drugs In Cookies, Gummies

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The National Drug Law Enforcement Agency (NDLEA) has cautioned parents to closely monitor their children’s craving for cookies and gummies, warning that some of the products may contain illicit substances being smuggled into the country.

In a statement posted yesterday, NDLEA’s Director of Media and Advocacy, Femi Babafemi, said recent seizures by the agency’s officers had revealed attempts by criminal elements to introduce prohibited substances under the guise of everyday snacks.

“As parents, if your kids and young ones always crave for cookies and gummies, you may have to pay a little more attention. There may be more to it than ordinary cookies and gummies,” Babafemi wrote, sharing images of seized packages.

The photos showed colourful pouches of “Cookies Delta 8 Gummies” in flavours such as Hawaiian Rain Pineapple Guava and Thai Mango, labelled as vegan and hemp-derived, alongside the actual gummy products.

The warning comes amid a major interception by the Nigeria Customs Service at the Tin Can Island Port in Lagos.

Officers seized two 40-foot containers containing large quantities of cannabis-infused products concealed among legitimate imports such as used vehicles, generators, batteries and fabrics.

The consignment included thousands of Delta-8 cannabis pre-roll cookies, packs of cannabis-infused gummies and other cannabis-infused cookies, with a combined estimated street value of about ?373.8m.

The items were subsequently handed over to the NDLEA.

NDLEA officials described the products, which originated from the United States and were packaged to resemble ordinary vegan snacks with appealing flavours, as an emerging public health threat.

They noted that the attractive packaging could appeal especially to children, students and young people, raising the risk of accidental consumption of concentrated cannabis.

 

 

 

 

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RIWAMA, PCRC Join Forces To Curb Illegal Waste Dumping In Rivers

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The Rivers State Waste Management Agency (RIWAMA) has announced plans to partner with the Police Community Relations Committee (PCRC) to strengthen efforts at combating illegal waste dumping and improving environmental sanitation across the state.

The partnership was unveiled during a meeting between officials of RIWAMA and the leadership of the Rivers State chapter of the PCRC in Port Harcourt, recently, where both organisations pledged to work together to restore the Garden City status of the state capital.

In his speech, the Supervisor of Market and Community Sanitation in RIWAMA, Mr. Omereji Ukoha, said the collaboration was in line with the vision of the agency’s Managing Director, Dr. Ibimina Wokoma, and the Board Chairman, Dr. Samuel Nwanosike, to promote a cleaner and healthier environment.

Ukoha described the PCRC as a strategic grassroots partner capable of mobilising communities and driving behavioural change through sustained public enlightenment on proper waste disposal.

He expressed concern over the increasing rate of indiscriminate refuse dumping in parts of Port Harcourt, particularly in New GRA, where blocked drainage channels and illegal shanties have continued to contribute to flooding and environmental degradation.

According to him, the agency is determined to intensify enforcement against environmental offenders, warning that unregistered cart pushers and residents who patronise them would be prosecuted in accordance with the provisions of the RIWAMA Act, 2014.

The RIWAMA official urged residents to embrace proper waste disposal practices and patronise only government-approved waste operators in order to safeguard public health and protect the environment.

Responding, the Chairman of the Police Community Relations Committee in Rivers State, Dr. Voke Emore, commended RIWAMA for seeking collaboration with the committee in addressing environmental challenges confronting the state.

Emore said the PCRC would deploy its community-based structures across the state to support public sensitisation and encourage residents to comply with environmental sanitation regulations.

He also called on local government councils to play more active roles in waste management, noting that they collect sanitation levies and should complement the efforts of the state government in maintaining a clean environment.

The PCRC chairman described indiscriminate refuse disposal as a serious environmental and public health concern, stressing that sustained collaboration among government agencies, community leaders and residents remained critical to achieving lasting sanitation goals.

Both organisations expressed optimism that the partnership would promote cleaner communities, reduce environmental hazards and strengthen public participation in efforts to ensure a healthier and more sustainable environment for the people of Rivers State.

 

King Onunwor

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Police Nab Kidnap Syndicate, Arrest Five In Rivers 

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The Rivers State Police Command has arrested five suspected members of a kidnapping syndicate allegedly terrorising communities in Oyigbo Local Government Area of the State.

The State Police Command disclosed this in a statement by its Public Relations Officer, ASP Blessing Agabe, in Port Harcourt,  recently.

The suspects were arrested during a coordinated operation at Oyigbo, following directives by the Commissioner of Police, Rivers State Command, CP Olugbenga Adewole Adepoju.

Those arrested were Ezekiel Emmanuel, 44, from Benue State; Chukwuma Mbanefor, 51, from Anambra State; Nicholas Diala, 65, from Imo State; Ndubuisi Uwakwe, 49, from Abia State; and Ifeanyi Nwakwo, 51, from Imo State.

The Command said the arrest represented another significant operational success in its ongoing efforts to dismantle criminal networks operating in the State.

According to the Police, preliminary investigation indicated that the suspects were allegedly involved in kidnapping operations within Rivers State.

The suspects, during interrogation, allegedly confessed to their involvement in kidnapping and further admitted participating in several operations carried out in Kom-Kom, Railway, Obeama and Afam communities.

The Command said investigation was ongoing, with efforts intensified to identify and apprehend other members of the suspected syndicate who may be connected with the criminal activities.

The Police boss said the operation reflected the implementation of operational directives and the intelligence-driven policing strategy of the Inspector-General of Police, IGP Olatunji Rilwan Disu, psc, NPM.

Adepoju reaffirmed the Command’s determination to sustain aggressive intelligence-led operations against kidnapping, cultism, armed robbery and other violent crimes across Rivers State.

He warned kidnappers and other criminal elements operating in the State that there would be no safe haven for them, stressing that the Command would relentlessly pursue, arrest and ensure that those found culpable were brought to justice.

The Commissioner further assured residents of the Command’s commitment to protecting lives and property, urging members of the public to remain vigilant and cooperate with security agencies in the fight against crime.

He appealed to residents to provide the Police with credible and timely information capable of assisting security operatives in preventing criminal activities and apprehending suspected criminals.

The Command urged members of the public who may have useful information on the activities of the suspected kidnapping syndicate or other criminal elements to contact the Police through its emergency lines, assuring that such information would assist ongoing investigations.

 

King Onunwor

 

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