The Development Bank of Nigeria has disbursed N1.4tn to Micro, Small and Medium Enterprises nationwide, supporting the creation of about 1.6 million jobs as of December 2025.
The bank also announced plans to reach more than two million MSMEs under a new five-year strategy, with particular attention to women-led businesses, young entrepreneurs and underserved states.
The bank disclosed this in a statement issued on Thursday after its seventh Annual Lecture, held in Abuja, on Wednesday.
“As at December 2025, DBN had disbursed a cumulative N1.4tn to MSMEs through 84 Participating Financial Institutions, creating about 1.6 million jobs nationwide. Under its new five-year strategy, the Bank aims to reach more than two million MSMEs, with deliberate targets for women-led businesses, youth-led businesses and underserved states,” the statement read.
Speaking at the event, the Managing Director and Chief Executive Officer of DBN, Dr Tony Okpanachi, said the bank had channelled the funds through 84 Participating Financial Institutions to improve access to credit for small businesses.
“The major reforms are now in place. How do we make sure their benefits reach the trader in Onitsha, the fabricator in Aba, the farmer in Kebbi and the young founder in Yaba?” he asked.
Okpanachi noted that MSMEs accounted for nearly half of Nigeria’s Gross Domestic Product and more than 80 per cent of employment, making their performance critical to the success of economic reforms.
“When reform works for MSMEs, it works for most Nigerians,” he added.
The DBN boss explained that economic reforms would translate into prosperity only when entrepreneurs could access long-term financing, acquire equipment, improve their operations and expand their businesses.
At the lecture, DBN launched its Action for Women in Nigeria initiative, known as DAWN, alongside its Impact Report and MSME Data Assets.
The initiative is designed to address financing constraints facing women-owned businesses by combining loans, credit guarantees, technical assistance, outcome-linked grants and market access.
Its priority sectors include agriculture, exports, healthcare, creative industries, technology and green businesses.
“DAWN is about moving gender-focused lending beyond intention and turning access into opportunity”, Okpanachi said.
The bank also signed a $61m Gender Line of Credit agreement with the African Development Bank to strengthen financing for women-led enterprises.
Okpanachi urged financial institutions to expand lending into underserved sectors and states, while encouraging entrepreneurs to formalise their businesses and maintain proper financial records.
He also called on policymakers to “measure reform by what changes for the business at the end of the chain”.
The event featured the Chief Executive Officer of MTN Nigeria, Dr Karl Toriola, and the Chairman of the Nigeria Sovereign Investment Authority, Dr Segun Ogunsanya, as keynote speakers.
Other participants included Sterling Bank CEO, Abubakar Suleiman; entrepreneur Omoyemi Chukwurah; and Babban Gona’s Kola Masha, who joined virtually.
Nigeria’s Vice President, Kashim Shettima, was represented by Dr Fred Iklaga, Senior Technical Adviser in the Office of the Special Adviser to the President on the Economy.