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DBN Disburses N49bn To Disadvantaged Regions, Targets 2m MSMEs

by BUKOLA ARO-LAMBO
2 months ago
in Business
DBN
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The Development Bank of Nigeria (DBN) has disclosed that it disbursed over N49 billion to disadvantaged regions across the country, helping to finance more than 711,819 micro, small, and medium enterprises (MSMEs) with cumulative funding now exceeding N1 trillion.

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This, it said, was part of efforts to deepen financial inclusion and promote inclusive economic growth.
Speaking with Journalists in Lagos, managing director, DBN, Dr. Tony Okpanachi, outlined the five-year strategy of the bank aimed at scaling its developmental impact across Nigeria’s underserved segments.
According to him, DBN’s financing efforts have targeted inclusivity, with an emphasis on marginalised demographics and economically challenged regions. “We are proud to report that out of the total MSMEs supported, about 74 per cent were women-owned businesses, while youth-led businesses accounted for 25 per cent of total beneficiaries,” he said.

He noted that the bank remains focused on achieving broad-based impact, especially in rural and economically disadvantaged areas. “Approximately N49 billion was disbursed to over 69,000 MSMEs located in regions such as Borno, Adamawa, Katsina, Yobe, and Zamfara. These areas, often considered economically challenged, are now seeing some of the benefits of DBN’s inclusive approach to development finance.”

Highlighting the ripple effect of the bank’s interventions, the DBN boss said, the institution facilitated the creation of about 1.2 million jobs in 2024, both directly and indirectly. Job creation remains a central measure of our developmental impact, he added.

The bank currently works with 79 Participating Financial Institutions (PFIs), which include deposit money banks, microfinance banks, merchant banks, and other financial intermediaries. Of these, 20 PFIs received technical support from the Bank under its capacity-building programme, aimed at improving MSME-focused lending.

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Furthermore, Okpanachi disclosed that over 9,500 MSMEs were trained in 2024 alone, further building the capacity of Nigerian entrepreneurs. “This forms part of our advisory and technical assistance pillar, ensuring that MSMEs are not only financially supported but also equipped to thrive,” he said.
Looking ahead, the DBN managing director unveiled the institution’s new five-year strategic plan which he said was designed to scale the bank’s developmental footprint. “We’ve done close to 800,000 MSMEs cumulatively, but we aim to reach at least two million MSMEs over the next five years,” he said.

Under the new strategic plan, DBN is targeting a loan book of N1 trillion in outstanding credit and aims to crowd in an additional N1.3 trillion in debt and equity capital. A significant component of the plan is also the expansion of the Bank’s credit guarantee arm, with a target of issuing over N500 billion in guarantees through its subsidiary.

Okpanachi also highlighted the bank’s resolve to improve gender and youth inclusivity. “We intend to ensure that at least 40 per cent of loans disbursed support women-led MSMEs, while 30 per cent will go to youth-led businesses. Additionally, we are targeting that 15 per cent of all disbursements go to MSMEs located in underdeveloped geo-political zones,” he said.

He stated further that, DBN is also increasing its green financing portfolio, with a target of N75 billion to N100 billion in outstanding green loans, even as the bank aims to train 500,000 MSMEs over the five-year period and to catalyse the creation of at least two million jobs across the country.

He added that, following the successful conclusion of the bank’s Annual General Meeting, shareholders including the African Development Bank, the Nigeria Sovereign Investment Authority, and others, expressed satisfaction with DBN’s performance.

“We will continue to innovate, scale, and impact lives. At DBN, development is not just measured by naira and kobo, but by the number of jobs created, the number of women empowered, and the number of businesses we help to thrive,” he concluded.


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Tags: Development Bank of Nigeria (DBN)
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