The Development Bank of Nigeria (DBN) Plc has announced a landmark achievement, disbursing over N1 trillion to Micro, Small, and Medium Enterprises (MSMEs) through 79 participating financial institutions across the country.
The milestone, revealed by DBN’s Managing Director, Tony Okpanachi, during a media parley in Lagos, underscores the bank’s pivotal role in bolstering Nigeria’s economic backbone by supporting small businesses, particularly in underserved regions.
Since its inception in 2014 and operational launch in 2017, DBN has prioritized sustainable socio-economic development by enhancing access to finance for MSMEs, which are critical to Nigeria’s economy. The bank’s interventions have reached over 69,000 MSMEs in economically disadvantaged states, including Borno, Yobe, Katsina, Zamfara, and Adamawa, where poverty and insecurity pose significant challenges to entrepreneurship.
A standout feature of DBN’s impact is its focus on inclusivity. According to Okpanachi, 74% of the beneficiaries are women, while 25% are youths, reflecting the bank’s commitment to empowering marginalized groups. “Our goal is to bridge the financing gap for MSMEs, particularly for women and young entrepreneurs who often face barriers to accessing credit,” Okpanachi said.
Beyond financial support, DBN has invested heavily in capacity building. The bank has trained over 9,500 MSMEs nationwide, equipping them with the skills needed to thrive in competitive markets.
Additionally, its Technical Assistance Programme has bolstered the lending capabilities of 20 participating financial institutions, benefiting over 711,000 MSMEs. These efforts have had a ripple effect, creating more than 1.2 million jobs since the bank’s establishment.
DBN’s achievements have not gone unnoticed. The bank has earned an “AAA” credit rating from both Agusto & Co. and GCR, signaling its financial stability and operational excellence. It has also garnered prestigious accolades, including the Global SME Finance Awards and the World Bank’s Best Project in Nigeria.
In a testament to its commitment to transparency, DBN secured first place in the Transparency and Integrity Index for 2022 and 2023. Furthermore, its accreditation by the Green Climate Fund positions it as a leader in sustainable financing in Nigeria.
DBN has set ambitious goals to deepen its impact over the next five years. The bank aims to grow its outstanding loans to N1 trillion, catalyze the creation of two million jobs, and support two million MSMEs.
Additionally, DBN plans to significantly expand its green financing portfolio, targeting between N75 billion and N100 billion in loans to promote environmentally sustainable projects.
Okpanachi emphasized that these targets align with DBN’s mission to drive inclusive and sustainable growth. “MSMEs are the engine of Nigeria’s economy, and by providing them with the right tools—finance, training, and technical support—we are laying the foundation for long-term prosperity,” he said.
WHAT YOU SHOULD KNOW
By empowering small businesses, particularly in underserved regions and among women and youth, the bank is not only fostering entrepreneurship but also contributing to the nation’s broader socio-economic development.
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