The Bank of Industry (BoI) has disbursed over ₦1.27 trillion to enterprises across 14 sectors in 2024, supporting more than 900,000 jobs.
BoI CEO, Dr. Olasupo Olusi, represented by Executive Director Mabel Ndagi, disclosed this at the 10th Nigeria Energy Forum (NEF) virtual session. He said the bank continues to drive industrial growth through affordable financing and value-added production.
Olusi highlighted the ₦200 billion Federal Government MSME Intervention Fund, managed by BoI, which is divided into:
• ₦50bn Presidential Conditional Grant Scheme
• ₦75bn MSME Intervention Fund
• ₦75bn Manufacturing Sector Fund
He added that BoI is expanding support for green finance, renewable energy, energy efficiency, and circular economy solutions.
At the forum, All On’s Jadesola Rawa discussed the Tertiary Institutions Energy Innovation Challenge (TIEC 3.0), aimed at accelerating student-led clean energy solutions. NEF’s Innovation Director, Bamise Olanrewaju, announced winning teams from Cross River State University, University of Lagos, and University of Port Harcourt.
The EU Delegation’s Inga Stefoniwicz said the union is investing in clean infrastructure globally, noting the Africa–EU Green Energy Initiative, which targets giving 100 million Africans access to electricity by 2030.
Other speakers, including ECA’s John Sloan and NEF Co-Chair Adekunle Makinde, emphasized the potential of green energy, mineral value addition, and industrialisation for job creation.
NEF Group Chairman Daniel Adeuyi revealed that the 10th Africa Youth Energy Innovation Challenge (AEIC) attracted over 400 entries from 38 African countries, with more than 30% led by young women. Winners include Ecofuel Bioenergy (DRC) and Nigeria’s Grid Guard and AgroCold Solar Hub.
