DBN Empowers 1,000 MSMEs In North

In continuation of its capacity development training programmes for Micro, Small and Medium Enterprises (MSMEs) in Nigeria, the Development Bank of Nigeria (DBN) has organised a one-day training for 1,000 businesses across six states in the North-East and North-West Region of the country.

The MSMEs were spread across Gombe, Maiduguri, Adamawa, Katsina, Sokoto and Kebbi states. The one-day capacity training programme, which was conducted in each of the locations, had facilitators from Cjonyx Consulting whose services were engaged by the Bank.

A statement from DBN stated that the training focused on business optimisation and development skills, and it’s aimed at further strengthening the capacity of the beneficiary MSMEs to scale up growth and sustainability.

It also said the key objective of the one-day training per location was to help the owners of the businesses improve their businesses and gain better knowledge of how they could access credit from DBN for increased efficiency and further business expansion.

Managing Director/CEO, Development Bank of Nigeria, Dr Tony Okpanachi, commended Cjonyx Consulting for bringing its expertise and experience to bear and expressed the optimism that the training would have a lasting impact on the participants and their businesses. 

He however affirmed that the training was in line with the Bank’s unwavering commitment to strengthening the capacity of MSMEs in the country so that they can continue to contribute more to the national Gross Domestic Product (GDP).

“The strategic role of MSMEs as enablers of socio-economic development cannot be over-emphasised. A larger percentage of businesses in Nigeria are in the informal sector dominated by MSMEs. The MSMEs sector is a significant pillar of Nigerian economic growth; they make up 97 per cent of businesses, generate six million jobs and contribute 50 per cent of the national GDP.

“Small businesses are value-creators and they create wealth for individuals. At DBN, we are passionately committed to seeing MSMEs increase their capacity for growth and expansion, and being more sustainable so that together, we can continue to build a stronger economy for the benefit of all Nigerians.” 

He stated.

The Development Bank of Nigeria through its numerous capacity training platforms has enriched the knowledge and capacity of MSMEs owners in the country through regular highly-enriching training initiatives and retooling, thereby positioning them for sustainable growth and expansion. 

One of the platforms is the annual DBN Entrepreneurship Training Programme (DBNETP) currently in its 5th Cycle and has benefitted over 2000 MSMEs across Nigeria who have been trained digitally and physically, leveraging partnerships and the DBN Learning Management System (LMS).