The Development Bank of Nigeria has disbursed N1.4tn cumulatively to micro, small and medium enterprises through 84 participating financial institutions, supporting the creation of about 1.6 million jobs as of December 2025. Under its new five-year strategy, the bank aims to reach more than two million MSMEs, with deliberate focus on women-led businesses, youth-led enterprises and underserved states. The bank disclosed this after its seventh Annual Lecture held in Abuja on Wednesday.
Managing Director and Chief Executive Officer Dr Tony Okpanachi said the bank channelled funds through the participating financial institutions to improve access to credit for small businesses. He 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. Okpanachi 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.
The bank supports enterprises through longer-tenor loans, partial credit guarantees provided by its subsidiary Impact Credit Guarantee Limited, and capacity-building initiatives including its Entrepreneurship Training Program. At the lecture, DBN launched its Action for Women in Nigeria initiative, known as DAWN, designed to address financing constraints facing women-owned businesses by combining loans, credit guarantees, technical assistance, outcome-linked grants and market access. Priority sectors include agriculture, exports, healthcare, creative industries, technology and green businesses.
The bank also signed a 61 million dollar 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 called on policymakers to measure reform by what changes for the business at the end of the chain.
For small business owners and entrepreneurs, this means expanded access to longer-term loans and credit guarantees through an expanding network of participating financial institutions, with specific new programs targeting women business owners and underserved regions.