The Managing Director/CEO of the Development Bank of Nigeria (DBN) Plc, Dr Tony Okpanachi, has emphasized the crucial role of micro, small, and medium enterprises (MSMEs) in driving Nigeria's economic growth. Speaking at the launch of DAWN: DBN Action for Women in Nigeria, and the unveiling of the DBN Impact Report, Dr Okpanachi noted that MSMEs account for close to half of Nigeria's gross domestic product (GDP) and more than eight in every 10 jobs.
Dr Okpanachi stated that the central challenge was no longer the economic reforms themselves but ensuring their benefits trickle down to businesses at the end of the chain. He asked, "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 emphasized that when reform works for MSMEs, it works for most Nigerians.
The DBN CEO explained that a reform becomes prosperity only when an entrepreneur can act on it, whether through long-tenor loans to buy equipment, a bank willing to take the risk, or the skills and records needed to grow. DBN provides longer-term funding, partial credit guarantees, and capacity building, including its Entrepreneurship Training Programme, working through Participating Financial Institutions.
As of December 2025, DBN had disbursed a cumulative ₦1.4 trillion 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.
DBN launched the DAWN initiative, which brings together financing, guarantees, credit support, technical assistance, outcome-linked grants, and market linkages to support women-led businesses. The priority sectors for DAWN are agriculture and exports, healthcare, arts and creatives, technology, and green business. Dr Okpanachi said, "DAWN is about moving gender-focused lending beyond intention and turning access into opportunity."
The 2026 DBN Annual Lecture, themed "From Policy to Prosperity: Translating Economic Reforms into MSME Growth," brought together government officials, regulators, development partners, financial institutions, and entrepreneurs to examine how national economic reforms can deliver real gains for MSMEs. On the sidelines of the lecture, DBN and the African Development Bank (AfDB) also held a signing ceremony for the AfDB–DBN $61 million Gender Line of Credit.
Dr Okpanachi urged Participating Financial Institutions to extend lending into sectors and states where access to finance has been limited; policymakers and regulators to "measure reform by what changes for the business at the end of the chain"; and MSMEs to formalize, keep good records, and use the support now available to them. Keynote speakers at the lecture included MTN Nigeria CEO Dr Karl Toriola and Nigeria Sovereign Investment Authority Chairman Dr Segun Ogunsanya.
Key points
- MSMEs account for close to half of Nigeria's GDP and more than 80% of jobs.
- DBN has disbursed a cumulative ₦1.4 trillion to MSMEs, creating about 1.6 million jobs nationwide.
- DBN aims to reach more than two million MSMEs under its new five-year strategy.
