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
Three securities lifted the NASD Over-the-Counter (OTC) Securities Exchange by 1.38 per cent on Friday, July 3, with the NASD Security Index (NSI) up by 58.80 points to 4,307.26 points from 4,248.46 points, and the market capitalisation closing higher by N35.30 billion to N2.585 trillion from N2.549 trillion.
The price gainers were led by 11 Plc, which expanded by N20.05 to close at N220.55 per share compared with the previous day’s N200.50 per share, FrieslandCampina Wamco Nigeria Plc increased by N5.36 to N151.82 per unit from N146.46 per unit, and Central Securities Clearing System (CSCS) Plc appreciated by N3.52 to N90.74 per share from N87.22 per share.
Yesterday, the value of transactions surged by 1,431.2 per cent to N160.1 million from the preceding session’s N10.5 million, and the volume of trades rose by 303.7 per cent to 1.8 million units from 440,653 units, while the number of deals decreased by 34.4 per cent to 21 deals from 32 deals.
Great Nigeria Insurance (GNI) Plc was the most traded stock by value on a year-to-date basis, with 3.4 billion units sold for N8.4 billion, followed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units worth N6.5 billion, and CSCS Plc with 70.7 million units transacted for N4.9 billion.
GNI Plc was also the most traded stock by volume on a year-to-date basis, with 3.4 billion units valued at N8.4 billion, followed by Infracredit Plc with 2.3 billion units exchanged for N6.5 billion, and Resourcery Plc with 1.1 billion units traded for N415.7 million.
By Dipo Olowookere
The losing streak on the Nigerian Exchange (NGX) Limited was halted on Friday after the bourse closed higher by 2.19 per cent at the close of trading activities.
The gains reported by Nigerian stocks were buoyed by renewed bargain-hunting by investors, which resulted in all the key sectors of Customs Street ended in the green territory.
The banking space rose by 2.78 per cent, the insurance counter appreciated by 1.26 per cent, the energy segment expanded by 0.36 per cent, the consumer goods index chalked up 0.06 per cent, and the industrial goods sector grew by 0.05 per cent.
Consequently, the All-Share Index (ASI) went up by 4,918.37 points to 229,240.34 points from 224,321.97 points, and the market capitalisation increased by N3.156 trillion to N147.103 trillion from N143.947 trillion.
Investor sentiment was bullish after 34 stocks ended on the price gainers’ chart and 18 stocks finished on the losers’ log, representing a positive market breadth index.
The quintet of The Initiates, Universal Insurance, DAAR Communications, Omatek, and Airtel Africa surged by 10.00 per cent to sell for N25.85, 88 Kobo, N1.65, N1.76, and N5,274.00, respectively.
On the flip side, International Energy Insurance lost 9.96 per cent to trade at N4.70, Meyer shed 9.95 per cent to close at N18.55, Veritas Kapital dropped 5.07 per cent to finish at N1.31, Fidelity Bank slipped by 2.17 per cent to N18.00, and Jaiz Bank crashed by 1.84 per cent to N28.12.
During the session, a total of 414.7 million equities worth N25.1 billion exchanged hands in 47,106 deals compared with the 855.4 million equities valued at N28.4 billion transacted in the preceding day in 51,609 deals, implying a contraction in the trading volume, value, and number of deals by 51.52 per cent, 11.62 per cent, and 8.73 per cent, respectively.
By Adedapo Adesanya
The Naira closed flat against the United States Dollar at N1,370.19/$1 in the Nigerian Autonomous Foreign Exchange Market (NAFEX) on Friday, July 3.
However, it appreciated against the Pound Sterling in the same market segment by N2.29 to settle at N1,829.88/£1 compared with the previous day’s N1,832.17/£1, and marginally depreciated against the Euro by 4 Kobo to close at N1,568.32/€1 versus Thursday’s closing price of N1,568.28/€1.
At the parallel market, the Naira also traded flat against the US Dollar at N1,390/$1, and at the GTBank forex desk, it also maintained stability at N1,832/$1.
Market conditions improved shortly after the following minimal intervention by the Central Bank of Nigeria (CBN) through modest Dollar sales, which boosted liquidity and supported stronger trading activity.
Easing pressure came after half-year profit-taking tapered down, while continued stronger policy signals from the central bank add to near-term support.
Deals executed at the official market on Friday came in at $70.430 million across 82 interbank deals, from $85.517 million the previous day.
Meanwhile, the cryptocurrency market continued its recovery after June non-farm payrolls printed at 57,000, less than half the 113,000 consensus, sending the implied probability of a September Federal Reserve rate hike from 64 per cent to 54 per cent and dragging AI stocks sharply lower.
Weak labour data reduces inflationary pressure and, by extension, the Federal Reserve’s justification for holding rates elevated. That transmission mechanism is direct: lower rate-hike odds compress the opportunity cost of holding non-yielding assets like crypto.
Bitcoin regained the $62,000 mark after it rose by 1.3 per cent to $62,475.29.
Cardano (ADA) gained 6.6 per cent to trade at $0.1759, Ripple (XRP) appreciated by 3.5 per cent to $1.14, Ethereum (ETH) expanded by 2.4 per cent to $1,756.82, Dogecoin (DOGE) improved by 2.1 per cent to $0.0768, Solana (SOL) chalked up 1.8 per cent to $82.65, TRON (TRX) increased by 1.5 per cent to $0.3235, and Binance Coin (BNB) soared by 1.4 per cent to $569.12, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) traded flat at $1.00 apiece.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism10 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz4 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