The Development Bank of Nigeria (DBN) says its cumulative disbursements of ₦1.4tn to micro, small and medium enterprises (MSMEs) had supported the creation of approximately 1.6 million jobs nationwide by December 2025, as it prepares to expand its reach under a new five-year strategy.
The bank plans to support more than two million MSMEs, with a focus on women-owned businesses, youth-led enterprises and businesses operating in states with limited access to financing.
The figures were disclosed in a statement issued on Thursday following the bank’s seventh Annual Lecture, held at the Transcorp Hilton in Abuja on Wednesday.
According to the statement, the funds were channelled through 84 Participating Financial Institutions to improve credit access for small businesses.
“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, DBN’s Managing Director and Chief Executive Officer, Dr Tony Okpanachi, said the priority was to ensure that the benefits of Nigeria’s economic reforms translated into tangible improvements for businesses across the country.
“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 said the importance of MSMEs to the economy made their performance central to the broader reform agenda, noting that the businesses accounted for nearly half of Nigeria’s Gross Domestic Product and more than 80 per cent of employment.
“When reform works for MSMEs, it works for most Nigerians,” he added.
He argued that reforms could not deliver widespread prosperity unless entrepreneurs were able to secure long-term funding, purchase equipment, strengthen their operations and grow their businesses.
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To address these needs, he said DBN provides longer-tenor loans, partial credit guarantees through its subsidiary, Impact Credit Guarantee Limited, and business development support through initiatives such as its Entrepreneurship Training Programme.
As part of efforts to address persistent financing barriers, the bank unveiled its Action for Women in Nigeria initiative, known as DAWN, alongside its Impact Report and MSME Data Assets.
The programme is designed to improve financing opportunities for women-owned businesses by combining loans with credit guarantees, technical assistance, outcome-linked grants and access to markets.
Its priority areas include agriculture, exports, healthcare, creative industries, technology and green businesses.
Explaining the rationale behind the initiative, Okpanachi said, “DAWN is about moving gender-focused lending beyond intention and turning access into opportunity,”
The bank also entered into a $61m Gender Line of Credit agreement with the African Development Bank to strengthen funding opportunities for women-led enterprises.
Beyond providing financing, Okpanachi called on financial institutions to increase lending to underserved sectors and states. He also urged business owners to formalise their operations and maintain reliable financial records to improve their prospects of securing credit.
He challenged policymakers to assess the effectiveness of economic reforms by examining their actual impact on businesses, urging them to “measure reform by what changes for the business at the end of the chain.”
The lecture attracted public- and private-sector leaders, development partners, regulators and entrepreneurs to discuss how economic reforms could produce measurable benefits for small businesses.
Keynote speakers included MTN Nigeria Chief Executive Officer, Dr Karl Toriola, and Chairman of the Nigeria Sovereign Investment Authority, Dr Segun Ogunsanya.
Other participants were Sterling Bank Chief Executive Officer, Abubakar Suleiman; entrepreneur Omoyemi Chukwurah; and Babban Gona’s Kola Masha, who participated virtually.
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.
Speaking on behalf of the Secretary to the Government of the Federation, Augusta Bekaredebo expressed optimism that the 2026 tax reforms would ease the financial burden on small businesses.
She said “a lot of businesses will be smiling” next year because they would be exempted from tax.
The discussions underscored the importance of ensuring that changes in economic policy translate into better access to finance, lower operating pressures and stronger growth prospects for MSMEs, which remain a major source of employment and economic activity across Nigeria.
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