🇳🇬NigeriaWest Africa
Bank of Industry electrifies over 100 communities and connects 11,777 new power users in 2025
via Punch Nigeria3 min read
The Bank of Industry's 2025 Development Impact Report indicates that its investments in power and rural infrastructure led to the electrification of more than 100 communities and connected 11,777 new customers to electricity. The report highlights the bank's role in addressing Nigeria’s energy access challenges, with the power and utilities sector emerging as a strong performer, supporting eight businesses in rural electrification and mini-grid deployment. Beyond power, BOI's interventions created and retained 1.68 million jobs, linked 47,508 smallholder farmers to processing facilities, and supported thousands of businesses across various sectors. The bank linked 47,508 smallholder farmers to value chains in agriculture and food processing, while the agro-processing sector created 2,491 jobs. In manufacturing, N4.6bn was invested to modernize six factories, supporting 6,178 jobs. The transport and logistics sector received N10bn in financing, creating 516 net jobs, and the pharmaceutical sector introduced nine new product lines and hired 182 women. BOI also mobilized €210m from international funding partners in 2025, with €125m for healthcare and €85m for agriculture and food security. The bank managed N73bn in matching funds for state governments and institutional partners and served as the lead implementation agency for the Federal Government’s N200bn MSME Industrialisation Fund, achieving over 95% disbursement. The Rural Area Programme on Investment for Development disbur
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This summary was AI-generated from a story originally published by Punch Nigeria.
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