The Development Bank of Nigeria (DBN) has said that women-owned enterprises account for about 74 per cent of its funding disbursement since it began operations.
The managing director, DBN, Innocent Okpanachi, disclosed this at the bank’s International Women’s Day 2025 celebration under the theme “Accelerate Action” in Abuja.
Okpanachi said for the bank, gender inclusion is more than just a commitment but a strategic imperative.
“We do not just believe in women’s economic empowerment—we are funding it, enabling it, and scaling it. Over the years, we have taken deliberate action to ensure that more women-led businesses have access to financing and capacity-building programmes.
“To date, DBN has disbursed over N272 billion to more than 518,170 women-owned businesses, which account for 74% of the bank’s beneficiaries. This reflects DBN’s unwavering commitment to empowering female entrepreneurs across the nation.”
He revealed that the bank has supported female entrepreneurs in diverse sectors, including fashion, agribusiness, technology, trade, healthcare, and renewable energy, ensuring they contribute meaningfully to the economy.
“But we are not stopping here. We recognise that access to finance alone is not enough. Women entrepreneurs need more than capital; they need strategic partnerships, policy support, mentorship, and market access to thrive in an increasingly competitive world.”
The MD noted that strategic partnerships are in place to accelerate support for women in the financial ecosystem.
“One of our recent milestones is the Women Entrepreneurs Finance Initiative (WE-FI) Code, a landmark partnership with the Central Bank of Nigeria (CBN) and the Bank of Industry (BOI) aimed at enhancing women’s access to finance, capacity-building, and business networking.”
The bank at the event also launched the Development Bank of Nigeria Gender Impact Report (2017-2024), which is a detailed assessment of DBN’s gender-related initiatives, focusing on women-led micro, small, and medium enterprises (WMSMEs).
The event was attended by prominent figures, including the Honourable Minister of Trade and Investment, Dr. Jumoke Oduwole, represented by Hajara Usman, and the French Ambassador to Nigeria, Marc Fonbauscier. The minister’s representative, Hajara Usman, highlighted the importance of supporting women entrepreneurs in Nigeria. Hajara highlighted that empowering women in business is crucial for the nation’s economic growth and development.
