Development Bank Disburses ₦1.4tn to MSMEs, Supports 1.6 Million Jobs

The Development Bank of Nigeria (DBN) has disbursed more than ₦1.4 trillion to support micro, small and medium-sized enterprises (MSMEs), contributing to the creation of over 1.6 million jobs across the country.

The bank’s Managing Director and Chief Executive Officer, Dr Tony Okpanachi, disclosed the figures during its ninth Annual General Meeting in Abuja, where shareholders approved a dividend payout of ₦8.5 billion.

Okpanachi said the institution’s impact extended beyond financial performance, noting that its lending activities were designed to improve access to finance for small businesses and promote employment generation.

According to him, the bank disbursed more than ₦300 billion to approximately 180,000 MSMEs in 2025 alone. He added that the institution monitors how funds reach beneficiaries and the extent to which the financing supports business expansion and job creation.

Operating through participating financial institutions, including commercial banks and microfinance banks, DBN provides funding that these partners channel to eligible businesses. The model enables the bank to extend financing to enterprises that may otherwise face difficulties accessing long-term credit.

Okpanachi said the bank also strengthened its capacity-building initiatives, training more than 48,000 MSMEs in 2025 on business management practices and ways to improve their access to finance.

The institution’s support for small businesses forms part of its broader mandate to address financing constraints and encourage sustainable economic activity. Its interventions have also included credit guarantees and technical assistance for financial institutions involved in lending to MSMEs.

At the meeting, an Independent Non-Executive Director, Kyari Bukar, said the ₦8.5 billion dividend reflected the bank’s financial performance and governance framework.

Looking ahead, DBN plans to expand its reach through a five-year strategy targeting more than two million MSMEs and the creation of two million direct and indirect jobs. The plan also includes mobilising ₦1.3 trillion in debt and equity capital, increasing support for women- and youth-led businesses, and widening financing access in underserved regions.

The bank, which commenced operations in 2017, aims to strengthen financial inclusion and support the growth of businesses that contribute to employment and Nigeria’s wider economic development.