The Development Bank of Nigeria disbursed more than N1 trillion to over one million micro, small and medium enterprises, and the funding supported the creation of more than 1.6 million jobs since it commenced operations.
DBN Managing Director Tony Okpanachi disclosed the figures at a media briefing in Lagos on 3 June. Okpanachi said Nigeria has about 41 million registered SMEs, contributing between 45% and 49% of GDP, while receiving less than 1% of total commercial bank lending.
IMPACT AND CONTEXT
DBN disbursed over N358 billion to more than 289,000 beneficiaries in 2025 alone, and said its interventions contributed to 376,000 jobs that year.
“Banks don't lend to them because they lack the capacity to take loans, collateral remains a major challenge, and perceived risks within the operating environment push interest rates to between 35 per cent and 40 per cent,” Okpanachi said. DBN lends through participating financial institutions and has onboarded 84 of them, comprising commercial banks, microfinance banks, merchant banks and development finance institutions.
Women-owned businesses accounted for 77% of beneficiaries and youth-led enterprises 28%, and the bank disbursed N108 billion to more than 132,000 MSMEs in economically disadvantaged and conflict-affected states including Borno, Adamawa, Katsina, Yobe and Zamfara.
FIVE-YEAR STRATEGY
Okpanachi said DBN aims to reach more than two million MSMEs and facilitate two million direct and indirect jobs over the next five years, targeting outstanding loans of N1 trillion, N500 billion in guarantees and the mobilisation of N1.3 trillion in debt and equity capital.
The strategy earmarks 40% of loans for women-led businesses and 30% for youth-owned enterprises, and plans to expand green financing to between N75 billion and N100 billion.
DBN's subsidiary Impact Credit Guarantee Ltd, established in partnership with the World Bank, has guaranteed loans exceeding N500 billion since inception, supporting more than 93,000 MSMEs and small corporates.