Abuja – In a landmark boost for Nigeria’s small business sector, the Development Bank of Nigeria (DBN) has facilitated the disbursement of roughly N1.1 trillion to Micro, Small, and Medium Enterprises (MSMEs) across the country.
Announcing this milestone during DBN’s 6th Annual Lecture in Abuja, Managing Director Dr. Tony Okpanachi said the funding was channelled through 79 partner financial institutions, reaching more than 700,000 businesses. “These numbers reflect more than financial support; they signify livelihoods protected, dreams realised, and businesses primed for expansion,” he explained.
Dr. Okpanachi highlighted that Nigerian MSMEs have historically faced barriers such as inconsistent policies and restricted access to finance, which hindered growth. He described the current period as a new era of opportunity, underscored by government initiatives including the National Council on MSMEs, which aims to unify policies, promote partnerships, and enhance inter-agency coordination.
“The DBN’s mission is to equip MSMEs with the resources, knowledge, and financial backing needed to succeed in today’s dynamic environment,” he added. The lecture, themed “Positioning Nigerian MSMEs for Growth in a Dynamic Policy Environment,” brought together policymakers, financiers, and business leaders to discuss strategies for scaling small enterprises nationwide.
In a goodwill statement, Vice President Kashim Shettima, represented by Special Adviser Dr. Tope Fasua, affirmed the government’s ongoing commitment to MSMEs. He cited reforms such as the removal of fuel subsidies and the unification of the foreign exchange market as crucial steps in fostering transparency, boosting investor confidence, and creating an enabling environment for business growth.
Shettima emphasised that the National Council on MSMEs will continue to drive policy alignment, improve access to finance, and strengthen partnerships between the private and public sectors. “This is a pivotal moment for small businesses. When MSMEs thrive, the entire nation prospers,” he concluded.
