The Nigerian government is emphasizing the need for increased private investment and robust development finance to reach its goal of a $1 trillion economy. During a Bank of Industry (BOI) roundtable in Abuja, Dr. Doris Uzoka-Anite, Minister of State for Budget and Economic Planning, noted that national budgets are insufficient to fund the country’s ambitious economic agenda.
Dr. Uzoka-Anite explained that the government is creating an integrated financial network. This system combines public funds, domestic and international capital, and climate finance to support the Renewed Hope Agenda and the National Development Plan. She urged development partners to focus on bankable projects to catalyze growth.
Senator John Enoh, Minister of State for Industry, Trade and Investment, highlighted the Bank of Industry’s role in advancing the nation’s industrial policy. He noted that the bank supports manufacturers and small businesses, with recent efforts focusing on export growth and skills development. He stressed that the true value of development finance lies in measurable outcomes, such as job creation and industrial expansion.
Dr. Olasupo Olusi, head of the Bank of Industry, stated that the bank now prioritizes development impact over simple loan volumes. The release of the 2025 Annual Development Impact Report confirms this commitment to transparency and accountability as the institution continues to align its operations with national prosperity goals.
