The Development Bank of Nigeria Plc (DBN) has taken a major step to transform the micro, small, and medium enterprises (MSMEs) landscape in the country with the launch of country’s first curated Data Asset, a web-based platform designed to enhance capacity and drive growth in the MSME sector.
The bank disclosed during the launch in Abuja that the platform analyses MSME data to provide insights into their contributions to employment, Gross Domestic Product (GDP), and sectoral growth while also identifying funding gaps and measuring progress towards bridging them.
DBN’s managing director/chief executive officer, Dr Tony Okpanachi, described the initiative as a “game-changer” for the sector. It would empower policymakers, financial institutions, and other stakeholders with the information needed to make data-driven decisions.
According to DBN, the platform’s key features include data integration and centralisation, enhanced accessibility and reporting, improved decision-making, and automated workflows for efficiency. The system enables stakeholders to query data, generate reports, and visualise key indicators through interactive dashboards while reducing manual processing time.
Dr Okpanachi said the launch underscores DBN’s long-term commitment to supporting MSMEs as critical drivers of economic growth in Nigeria. He added that the platform’s data governance framework ensures compliance with national and international standards for integrity, security, and accountability.
“This innovation will have a lasting impact on the MSME sector, enabling businesses to access funding, scale operations, and deepen market access,” he said.
Key features of the platform include seamless data integration and centralization from diverse sources, real-time data querying and reporting tools, and interactive dashboards that vividly visualize key performance indicators. This integration significantly reduces manual data processing time and errors, making decision-making more efficient and reliable for financial institutions and investors seeking to support MSMEs.
Beyond enhancing financial access, the platform also promotes transparency and accountability through a robust data governance framework that complies with national and international standards. According to DBN, this ensures data integrity, security, and user privacy while fostering trust among all ecosystem players.
“The MSME Data Hub is not just a technological innovation — it is a strategic tool that will accelerate the scaling of MSMEs by identifying market opportunities, highlighting funding needs, and tracking progress over time,” Dr Okpanachi emphasised. “Our commitment is to enable these enterprises to thrive, create more jobs, deepen market penetration, and ultimately contribute to Nigeria’s sustainable economic development.”
