The Development Bank of Nigeria (DBN) says it has disbursed a cumulative ₦1.4 trillion to micro, small and medium-sized enterprises (MSMEs), supporting approximately 1.6 million jobs across the country as of December 2025.
The bank also unveiled plans to extend its support to more than two million MSMEs under a new five-year strategy, with a focus on women-owned businesses, young entrepreneurs and businesses operating in underserved states.
The development was announced in a statement issued on Thursday following the bank’s seventh Annual Lecture, held in Abuja on Wednesday.
According to the DBN, the funds were channelled through 84 participating financial institutions to improve access to credit for small businesses nationwide.
Speaking at the event, the bank’s Managing Director and Chief Executive Officer, Dr Tony Okpanachi, said the focus should now be on ensuring that the benefits of Nigeria’s economic reforms reach business owners across different sectors and regions.
He cited traders, manufacturers, farmers and young entrepreneurs as examples of business operators who need better access to financing to expand their operations.
Okpanachi noted that MSMEs contributed nearly half of Nigeria’s Gross Domestic Product and accounted for more than 80 per cent of employment, making their growth important to the country’s economic progress.
He added that economic reforms would deliver meaningful benefits when entrepreneurs could obtain long-term financing, purchase equipment, improve productivity and grow their businesses.
At the lecture, the bank launched its Action for Women in Nigeria initiative, known as DAWN, alongside its Impact Report and MSME Data Assets.
The DAWN programme is designed to address funding challenges faced by women-owned businesses through loans, credit guarantees, technical support, performance-based grants and improved access to markets.
Its priority sectors include agriculture, exports, healthcare, creative industries, technology and green businesses.
Okpanachi said the initiative was intended to turn commitments to gender-focused financing into practical economic opportunities for women entrepreneurs.
The bank also signed a $61m gender-focused line-of-credit agreement with the African Development Bank to expand financing opportunities for women-led enterprises.
The DBN chief urged financial institutions to increase lending to underserved sectors and communities. He also encouraged entrepreneurs to formalise their businesses and maintain accurate financial records to improve their access to funding.
He called on policymakers to assess the success of economic reforms by examining the tangible changes experienced by businesses.
The event featured MTN Nigeria Chief Executive Officer Dr Karl Toriola and Nigeria Sovereign Investment Authority Chairman Dr Segun Ogunsanya as keynote speakers.
Other participants included 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 at the event by Dr Fred Iklaga, Senior Technical Adviser in the Office of the Special Adviser to the President on the Economy.
The bank’s latest figures highlight the role of financing in supporting small businesses, expanding employment opportunities and strengthening Nigeria’s private sector.
