The Development Bank of Nigeria (DBN) has announced that it has disbursed over N787 billion to more than 495,000 Micro, Small, and Medium Enterprises (MSMEs) since its inception (2017) to 2023.
According to the recently released cumulative “Social Impact Report” for the year ended 2023, the DBN highlighted its dedication to supporting women and youth-led businesses, with 72 percent of the beneficiaries being women and 24 percent youth.
Dr. Okpanachi emphasized the importance of profitability for financial sustainability, highlighting the bank’s financial performance in 2023.
Looking ahead, Dr. Okpanachi reaffirmed the DBN’s commitment to supporting MSMEs and small corporations in Nigeria, stating, “As Nigeria strives towards sustainable development and economic resilience, following the policy reforms of the current administration, DBN remains committed to unlocking the full potential of MSMEs.”
He expressed gratitude to the bank’s development partners and stakeholders for their unwavering support, emphasizing their shared vision of alleviating financing constraints and promoting inclusive growth in the country.
The Development Bank of Nigeria (DBN) was established in 2017 as a wholesale development finance institution aimed at providing sustainable financing through eligible financial intermediaries to Micro, Small, and Medium Enterprises (MSMEs) in Nigeria.