DBN targets 2m MSMEs with new strategy, unveils women focused initiative
By Abiodun folarin
The Development Bank of Nigeria (DBN), has set a target of reaching more than two million micro, small and medium sized enterprises (MSMEs) under its new five year strategy, while launching a women focused financing initiative and signing a $61 million gender credit line with the African Development Bank (AfDB).
The bank announced the initiatives at its seventh Annual Lecture, held at the Congress Hall of Transcorp Hilton, Abuja, on Wednesday, with the theme, “From Policy to Prosperity: Translating Economic Reforms into MSME Growth.”
The event also featured the unveiling of the DBN Impact Report and the presentation of the bank’s MSME Data Assets, bringing together government officials, regulators, development partners, financial institutions and entrepreneurs to examine ways of translating economic reforms into tangible business growth.
Speaking at the event, DBN Managing Director and Chief Executive Officer, Dr Tony Okpanachi, said the challenge was no longer the introduction of economic reforms but ensuring that their benefits reached 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 noted that MSMEs account for close to half of Nigeria’s gross domestic product (GDP) and more than 80 per cent of jobs, stressing that the success of economic reforms would depend largely on their impact on small businesses.
He explained that reforms would translate into prosperity only when entrepreneurs could access long term financing, obtain credit from financial institutions and acquire the skills and business records needed to expand their operations.
According to him, DBN provides longer-term funding through participating financial institutions (PFIs), alongside partial credit guarantees through its subsidiary, Impact Credit Guarantee Limited, and capacity building support through its Entrepreneurship Training Programme.
The DBN chief executive disclosed that the bank had cumulatively disbursed ₦1.4 trillion to MSMEs through 84 participating financial institutions as of December 2025, supporting the creation of about 1.6 million jobs nationwide.
Under its new five year strategy, the bank plans to expand its reach to more than two million MSMEs, with specific targets for women led and youth led enterprises, as well as businesses operating in underserved states.
As part of efforts to address financing challenges facing women entrepreneurs, DBN launched DAWN, an initiative known as DBN Action for Women in Nigeria.
Okpanachi said the programme was designed to address the limitations of relying on finance alone to help women owned businesses grow, combining financing, credit guarantees, technical assistance, outcome linked grants and market access.
The initiative will be delivered through banks, microfinance institutions, fintech companies, aggregators, cooperatives and direct channels, with priority sectors including agriculture and exports, healthcare, arts and creatives, technology, and green businesses.
“DAWN is about moving gender focused lending beyond intention and turning access into opportunity,” he said.
At the sidelines of the annual lecture, DBN and AfDB signed a $61 million gender line of credit aimed at reinforcing support for women-led enterprises.
Okpanachi urged participating financial institutions to extend lending to underserved sectors and states, while calling on policymakers and regulators to assess economic reforms by their measurable impact on businesses.
He also encouraged MSMEs to formalise their operations, maintain proper records and take advantage of available financing and business-development support.
The Vice President, who was the special guest of honour, was represented by Dr Fred Iklaga, Senior Technical Adviser in the Office of the Special Adviser to the President on the Economy.
The keynote speakers were MTN Nigeria Chief Executive Officer, Dr Karl Toriola, and Chairman of the Nigeria Sovereign Investment Authority, Dr Segun Ogunsanya.
A fireside chat featured Sterling Bank Chief Executive Officer, Mr Abubakar Suleiman; manufacturing and trade entrepreneur, Mrs Omoyemi Chukwurah; and Mr Kola Masha of Babban Gona, who participated virtually.
Representing the Secretary to the Government of the Federation, Mrs Augusta Warrens Bekaredebo said the 2026 tax reforms were expected to provide relief to many small businesses.
She expressed optimism that more businesses would benefit from tax exemptions under the reforms, saying that “a lot of businesses will be smiling” by next year.
