The Development Bank of Nigeria (DBN) has announced that it has disbursed over ₦1 trillion to micro, small, and medium enterprises (MSMEs) across the country, while outlining plans to grow its debt and equity capital to ₦1.3 trillion over the next five years.
Speaking at a media briefing, DBN Managing Director, Tony Okpanachi, revealed that the bank has provided funding support to over 711,819 MSMEs, with more than 69,000 of them located in economically disadvantaged states such as Borno, Yobe, Zamfara, Katsina, and Adamawa.
“Our objective remains clear — to bridge the financing gap for MSMEs and support economic inclusion through job creation,” Okpanachi stated.
Founded by the Federal Government of Nigeria in partnership with international development partners, the DBN was established to ease credit access for small businesses and stimulate sustainable economic growth. As of now, the bank’s interventions have contributed to the creation of over 1.2 million jobs, and provided technical assistance to 20 participating financial institutions (PFIs).
A key highlight of DBN’s impact is the gender and youth focus of its lending: 74% of the loan recipients are women, while 25% are youths, underlining the bank’s commitment to inclusive economic empowerment.
As it moves toward its ₦1.3 trillion capital goal by 2029, the DBN plans to attract more investment from global financial partners while continuing its Technical Assistance Programme to build capacity within Nigeria’s financial ecosystem.
