The Development Bank of Nigeria (DBN) Plc has disbursed more than N1 trillion to over one million Micro, Small and Medium Enterprises (MSMEs), supporting the creation of more than 1.6 million jobs since it commenced operations.
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The Managing Director of DBN, Dr Tony Okpanachi, disclosed this on Wednesday in Lagos while briefing journalists on the bank’s performance and strategic direction.
Licensed in 2017, the Development Bank of Nigeria was created to address financing constraints facing Nigeria’s MSME sector by providing long-term funding, credit guarantees and capacity-building support through participating financial institutions.
The bank’s core mandate is to improve access to finance for micro, small and medium enterprises, which are widely regarded as the backbone of the Nigerian economy.
What they are saying
Beyond disbursing more than N1 trillion to over one million MSMEs over the last nine years, DBN said it is targeting an outstanding loan portfolio of N1 trillion and plans to issue N500 billion in guarantees under its new growth strategy.
The development finance institution also said it aims to support more than two million MSMEs and facilitate the creation of two million direct and indirect jobs over the next five years as it deepens financial inclusion and expands support for underserved sectors of the economy.
- “Our strategic intent over this period is to achieve scale by expanding support for MSMEs and strengthening inclusive economic growth,” Okpanachi said.
He added that the bank plans to mobilise N1.3 trillion in debt and equity capital over the next five years to support its expansion agenda, broaden access to finance and strengthen its developmental impact across key sectors of the economy.
More insights
Providing further insight into the bank’s impact, Okpanachi said DBN has built an extensive financing network comprising 84 Participating Financial Institutions (PFIs), including commercial banks, microfinance banks, merchant banks and development finance institutions, through which it channels support to businesses across the country.
- According to him, women-owned businesses accounted for 77 per cent of all beneficiaries reached by the bank, underscoring DBN’s growing role in promoting gender-inclusive financing. Youth-led enterprises also represented 28 per cent of beneficiaries.
The bank has also directed significant resources to economically disadvantaged and conflict-affected regions. Okpanachi disclosed that DBN disbursed N108 billion to more than 132,000 MSMEs operating in states such as Borno, Adamawa, Katsina, Yobe and Zamfara, helping businesses in some of Nigeria’s most vulnerable communities access much-needed financing.
In 2025 alone, the bank disbursed more than N358 billion to over 289,000 MSMEs while onboarding five additional participating financial institutions to broaden its reach.
- According to him, ICGL has guaranteed loans worth more than N500 billion since inception, supporting over 93,000 MSMEs and small corporates through more than 130,000 credit guarantees.
- The subsidiary has also helped sustain more than 203,000 jobs while extending thousands of guarantees to businesses operating in underserved communities.
He added that ICGL has strengthened its operations through strategic partnerships with international institutions including the African Development Bank and the European Investment Bank.
What you should know
As part of its new five-year strategy, DBN plans to deepen financial inclusion by directing 40 per cent of its lending to women-led businesses and 30 per cent to youth-owned enterprises. The bank also intends to channel 15 per cent of its disbursements to MSMEs operating in underdeveloped geopolitical zones and priority states.
The projections align with a series of recent initiatives undertaken by the bank to strengthen financing opportunities for small businesses.
On May 9, Nairametrics reported that DBN secured a $61 million financing package aimed at expanding access to affordable credit for women-owned and women-led MSMEs in Nigeria. According to the bank, more than 95 per cent of the funding package is specifically targeted at businesses owned or led by women.
Earlier in 2025, DBN also announced plans to significantly scale up its support for Nigeria’s MSME sector, unveiling a strategy to grow its outstanding loan portfolio to more than N1.8 trillion as part of its long-term expansion programme.
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