BoI disburses N27bn to 8 businesses, wins dual awards
The Bank of Industry (BoI) disbursed N27 billion to eight businesses under its Power and Utilities portfolio in 2025, reinforcing its commitment to financing projects that drive sustainable development and expand access to critical infrastructure across Nigeria. The foremost Nigeria’s development finance institution disclosed this in a statement while announcing its recognition with two awards […]
The Bank of Industry (BoI) disbursed N27 billion to eight businesses under its Power and Utilities portfolio in 2025, reinforcing its commitment to financing projects that drive sustainable development and expand access to critical infrastructure across Nigeria.
The foremost Nigeria’s development finance institution disclosed this in a statement while announcing its recognition with two awards at the EMEA Finance Achievement Awards.
BoI received the Best Sustainability Deal in Africa Award for its role in the Nigeria Distributed Access through Renewable Energy Scale-up (DARES) Project and the Best Social Development Deal in Africa Award for its Guaranteed Loans for Women (GLOW) programme.
According to BoI’s 2025 Annual Development Impact Report, all projects financed under its Power and Utilities portfolio recorded 100 per cent financial additionality, indicating that they would not have been implemented without the Bank’s intervention. The portfolio also achieved the highest Development Impact Framework score among all sectors financed by the institution.
The DARES project, implemented in partnership with the Rural Electrification Agency (REA) and supported by a $750 million International Development Association (IDA) credit facility from the World Bank, is designed to expand electricity access in underserved and unserved communities through solar mini-grids.
BoI said the initiative is helping to bridge Nigeria’s energy access gap while promoting the adoption of renewable energy solutions in rural communities.
The Bank’s GLOW programme, which earned the Best Social Development Deal in Africa Award, was recognised for its contribution to advancing financial inclusion and economic empowerment for women-owned and women-led businesses.
The programme provides affordable financing, business support services, mentorship, training, and market access opportunities to help female entrepreneurs overcome barriers such as limited access to credit, collateral constraints, and capacity gaps.
Through GLOW, beneficiaries are also supported to take advantage of emerging opportunities under the African Continental Free Trade Area (AfCFTA), enabling them to expand into regional and international markets.
Commenting on the awards in the statement, the Managing Director and Chief Executive Officer of BoI, Dr. Olasupo Olusi, said the recognition reflects the institution’s commitment to financing initiatives that deliver measurable economic, social, and environmental benefits.
“These awards reflect the Bank of Industry’s deliberate focus on supporting projects and programmes that deliver measurable economic, social, and environmental outcomes for Nigerians. Whether it is bringing reliable electricity to underserved communities through renewable energy solutions or empowering women entrepreneurs by providing access to affordable finance and growth opportunities, our goal remains the same: to build a more inclusive, resilient, and sustainable economy. We are honoured by this international recognition and remain committed to deepening our impact across sectors that matter most to national development.”