The Development Bank of Nigeria (DBN) has disbursed a cumulative N1.4tn to Micro, Small and Medium Enterprises (MSMEs) across the country, supporting the creation of approximately 1.6 million jobs as of December 2025, as it unveiled a new five-year strategy targeting more than two million businesses.
The bank said the strategy would prioritise women-led enterprises, youth-owned businesses and entrepreneurs operating in underserved states, in a renewed effort to widen access to finance and promote inclusive economic growth.
The figures were disclosed in a statement issued on Thursday following the bank’s seventh Annual Lecture, held in Abuja on Wednesday.
According to the statement, the funds were channelled through 84 Participating Financial Institutions to improve credit access for small businesses, which continue to face financing constraints despite their significant contribution to the Nigerian economy.
“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, stressed that the impact of economic reforms would depend largely on whether small businesses could access the financing and support required to grow.
He said the challenge was to ensure that the benefits of policy changes reached entrepreneurs and business owners across the country, particularly those operating outside major commercial centres.
“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 and broader development objectives.
“When reform works for MSMEs, it works for most Nigerians,” he added.
He explained that reforms would deliver meaningful economic benefits only when entrepreneurs could obtain long-term financing, invest in equipment, improve productivity and expand their operations. Without such support, he noted, the gains from broader economic changes might not translate into sustainable business growth.
DBN launches initiative to support women-owned businesses
As part of its efforts to address financing gaps among women entrepreneurs, the bank launched its Action for Women in Nigeria initiative, known as DAWN, at the annual lecture.
The bank also unveiled its Impact Report and MSME Data Assets, which are intended to strengthen understanding of the sector and support more informed financing decisions.
DAWN is designed to tackle barriers confronting women-owned businesses through a combination of loans, credit guarantees, technical assistance, outcome-linked grants and improved access to markets.
The initiative will focus on sectors with significant economic potential, including agriculture, exports, healthcare, creative industries, technology and green businesses.
Explaining the rationale behind the programme, Okpanachi said the bank wanted to translate commitments to gender inclusion into tangible economic opportunities for women entrepreneurs.
“DAWN is about moving gender-focused lending beyond intention and turning access into opportunity,” he said.
In a related development, DBN signed a $61m Gender Line of Credit agreement with the African Development Bank (AfDB) to strengthen financing for women-led enterprises.
The agreement is expected to support efforts to improve access to funding for businesses owned by women, enabling them to invest in operations, expand production and explore new markets.
Okpanachi also urged financial institutions to extend lending to underserved sectors and states, while encouraging business owners to formalise their operations and maintain accurate financial records to improve their chances of securing credit.
He called on policymakers to assess the success of economic reforms based on their practical effects on businesses and ordinary Nigerians.
He urged stakeholders to “measure reform by what changes for the business at the end of the chain”.
Business leaders, policymakers attend annual lecture
The annual lecture brought together business executives, entrepreneurs and policymakers to discuss the relationship between economic reforms, access to finance and private-sector growth.
The Chief Executive Officer of MTN Nigeria, Dr Karl Toriola, and the Chairman of the Nigeria Sovereign Investment Authority, Dr Segun Ogunsanya, delivered keynote addresses at the event.
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 by Dr Fred Iklaga, Senior Technical Adviser in the Office of the Special Adviser to the President on the Economy.
The bank’s expanded financing target and new initiatives underscore the importance of improving credit access for MSMEs, particularly women- and youth-led businesses, as Nigeria seeks to strengthen entrepreneurship, generate employment and broaden the benefits of economic growth.