Economy
N636bn BoI Loans to MSMEs Validate Economic Reform Agenda—Tinubu
By Modupe Gbadeyanka
President Bola Tinubu has expressed satisfaction with the disbursement of N636 billion as loans to business owners in the Micro, Small and Medium Enterprises (MSMEs) in the country by the Bank of Industry (BoI) in 2025.
In a statement signed by his Special Adviser on Information and Strategy, Mr Bayo Onanuga, the Nigerian leader disclosed that the development validates his government’s economic reform agenda.
Over 7,000 enterprises were given soft loans worth N636 billion by the lender last year, the highest annual financing volume in the institution’s history.
A breakdown of the financing shows that N202 billion was allocated to agro-allied enterprises, N100 billion to critical national infrastructure, including broadband, power, aviation, and transportation, N79 billion to manufacturing, N77 billion to extractive industries, and N55 billion to services.
In addition, the bank deployed N73 billion in managed and matching funds on behalf of state governments and institutional partners.
Under the BoI 2025 disbursement, strategic interventions included upgrading a tomato processing facility from 3.1 metric tonnes per hour to 10 metric tonnes per hour and linking 47,508 smallholder farmers to formal processing value chains.
The bank also supported the deployment of 100 mini-grids in partnership with global development finance institutions, connecting 11,777 new customers to electricity. BOI-financed projects contributed to an estimated annual reduction of over 20,000 tonnes of carbon emissions.
“The N636 billion disbursed by the Bank of Industry in 2025 translates directly into productive capacity across Nigeria. It financed agro-processing expansion, strengthened manufacturing output, supported infrastructure delivery, and empowered thousands of enterprises across our states.
“At a time of global financing constraints, Nigeria expanded access to long-term capital for its businesses. That is a direct outcome of reform, credibility, and institutional discipline,” Mr Tinubu said.
It was observed that disbursement by business size reflects a deliberate inclusion strategy. Nano enterprises received N51 billion. Micro businesses accessed N32 billion. Small and medium enterprises received N178 billion in financing, while large enterprises accounted for N375 billion.
Under the federal government’s N200 billion MSMEs intervention programme, BoI recorded over 95 per cent performance as the disbursing institution. The Presidential Conditional Grant Scheme reached 957,400 beneficiaries in 2025 alone.
In addition, BOI’s financing activities led to the creation and retention of approximately 1.6 million jobs. The bank supported more than 7,000 MSMEs and 570 startups during the year.
Inclusive financing initiatives also recorded a measurable impact. Through the Guaranteed Loans for Women Programme, a N10 billion gender-focused facility providing up to N50 million per beneficiary, women-owned enterprises expanded access to affordable credit. Youth-owned enterprises received N12 billion in financing. Under the Rural Area Programme on Investment for Development, 880 rural-based enterprises across the 36 states and the FCT accessed over N6.5 billion.
The President further noted that BOI maintained strong asset quality, recording a non-performing loan ratio below 1.5 per cent despite macroeconomic headwinds. He also acknowledged the €2 billion syndicated facility secured in 2024 and the additional €210 million mobilised from international partners in 2025, which strengthened the Bank’s lending capacity.
“Development finance must be disciplined, measurable, and aligned with national priorities. What we are witnessing is the transition from strategy to scale.
“Our economic transformation will be built on production, value addition, and enterprise growth. We will continue to crowd in capital, deepen institutional reform, and ensure that access to finance supports real sector expansion across Nigeria,” President Tinubu stated.
He reaffirmed his administration’s resolve to consolidate reform gains and expand credit access to enterprises as part of a long-term strategy to accelerate industrialisation and inclusive economic growth.
By Adedapo Adesanya
* NNPC rejects Dangote’s argument, cites risks
* NMDPRA joins suit
The Nigerian National Petroleum Company (NNPC) has accused Dangote Petroleum Refinery of seeking to restrict competition and expose the country’s fuel market to monopoly control.
This came after the management of the 650,00/ barrels per day refinery challenged import licences issued to rival marketers in court by suing the federal government.
In a proposed defence filed at the Federal High Court in Lagos, NNPC said granting Dangote’s request to void or restrict import permits would expose Africa’s largest oil producer to supply disruptions, price instability and risks to national energy security.
The regulator, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), has applied to join the case, widening a legal battle over import policy and Dangote refinery’s market position.
Dangote said in the filing that the licences issued to marketers, including NIPCO, AA Rano, Matrix, Shafa, Pinnacle, and Bono, undermined its operations and contravene the provisions of Nigeria’s Petroleum Industry Act, which it argues allows imports only when domestic supply falls short.
Named in the suit against the country is the Attorney General and Minister of Justice, Mr Lateef Fagbemi. The federal government can only be sued via his office.
The state-owned oil company rejected the argument, saying the law allows import licences to companies with local refining licences or proven records in international crude and petroleum-product trading.
It said regulators had discretion to manage imports under Nigeria’s backwards-integration policy and that there was no mandatory ban on imports except in cases of domestic shortfall.
NNPC also said Dangote had not provided “credible, independent or verifiable evidence” that the refinery could meet Nigeria’s total fuel demand or guarantee uninterrupted nationwide supply, the court documents show.
The company denied allegations that it had sabotaged Dangote’s refinery or deliberately withheld crude, saying crude allocations depended on operational, commercial, security and logistical factors.
The court has scheduled a hearing in the coming weeks.
Fuel marketers under Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) have also opposed Dangote’s suit, warning it could hurt competition and supply security.
The dispute comes months before Dangote’s planned September IPO of its refinery business, adding uncertainty over market rules, import competition and the revenue outlook investors may assign to the 650,000-barrel-per-day plant.
By Dipo Olowookere
The All-Share Index (ASI) of the Nigerian Exchange (NGX) Limited contracted by 0.25 per cent week-on-week last week to 249,712.37 points, and compressed the market capitalisation by 0.23 per cent to N160.077 trillion.
This was due to profit-taking, which also caused all other indices to finish lower except for CG, premium, banking, pension, AFR Bank Value, MERI growth, energy, growth and commodity indices, which appreciated by 0.24 per cent, 0.33 per cent, 1.11 per cent, 0.19 per cent, 1.47 per cent, 0.33 per cent, 0.07 per cent, 1.57 per cent and 0.02 per cent, respectively. The sovereign bond index was flat in the week.
Data from Customs Street showed that 38 equities appreciated during the week versus 74 equities in the previous week, 55 shares depreciated versus 24 shares of the preceding week, and 53 stocks remained unchanged versus 48 stocks a week earlier.
ABC Transport gained 44.82 per cent to trade at N9.08, Academy Press improved by 29.79 per cent to N9.15, University Press grew by 28.00 per cent to N6.40, International Energy Insurance appreciated by 22.22 per cent to N3.41, and Learn Africa jumped 18.89 per cent to N12.90.
Conversely, Sovereign Trust Insurance lost 22.45 per cent to settle at N2.28, Trans-Nationwide Express moderated by 18.98 per cent to N5.72, CAP depleted by 14.85 per cent to N199.00, Berger Paints slumped by 12.64 per cent to N147.60, and RT Briscoe slipped by 11.18 per cent to N14.06.
Business Post reports that market participants traded 3.875 billion shares worth N161.757 billion in 334,745 deals in the five-day trading week versus the 7.772 billion shares valued at N374.040 billion traded in 402,945 deals in the previous week.
Financial stocks led the activity chart with 2.410 billion units sold for N69.712 billion in 126,919 deals, contributing 62.19 per cent and 43.10 per cent to the total trading volume and value, respectively.
Services equities recorded a turnover of 409.306 million units worth N5.409 billion in 25,908 deals, and energy shares exchanged 294.859 million units valued at N31.496 billion in 26,738 deals.
Sterling Holdings, Fidelity Bank, and Access Holdings accounted for 1.092 billion units worth N19.527 billion in 21,683 deals, contributing 28.18 per cent and 12.07 per cent to the total trading volume and value, respectively.
By Adedapo Adesanya
Financial educator and coach, Mrs Wemimo “Wems BO” Bolu-Opaniran, is set to host the maiden edition of the Wems BO Personal Finance Retreat 1.0, a weekend event aimed at helping participants improve their financial literacy and develop practical money management skills.
According to a statement, the retreat is designed to make personal finance engaging and accessible through interactive sessions, games, networking opportunities, and one-on-one coaching sessions.
The organisers said the event will focus on providing attendees with practical and actionable financial knowledge rather than conventional lecture-style teaching.
“Come and unravel financial wisdom and leave with a practical and concrete action plan,” the organisers stated in a statement.
Activities lined up for the retreat include interactive finance sessions, networking opportunities, personal finance workbooks, games and activities, food and souvenirs, as well as three months of exclusive access to the event replay.
Speaking on the rationale for organising the event, Wems BO noted that lack is primarily not always the reason people have bad finances, but often, money culture is.
“The way one sees and treats money has been a development from years and decades past. So, what to do about money is not the solution. It is mindset, defaults and motivations shaping decisions.
The solution is an inner inquiring on why you do what you do, beyond money. Understanding who you are, then beginning to drive decisions that make you grow, manage and scale your finances in a way that aids the life you want,” she told Business Post.
Participants will also have the opportunity to receive one-on-one coaching with the finance guru.
The event is scheduled to be held from Friday, July 17 to Saturday, July 18, 2026, at an in-house venue on Lagos Mainland.
Ticket prices were pegged at N40,000 for individual attendees and N76,000 for duo tickets, with organisers noting that limited slots remain available.
Interested participants can register through the official registration link.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism10 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking8 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn