The Development Bank of Nigeria (DBN) has disbursed more than N1 trillion to over one million Micro, Small and Medium Enterprises (MSMEs) across Nigeria, helping to create more than 1.6 million jobs since it began operations in 2017.
The bank’s Managing Director, Tony Okpanachi, disclosed this during a media briefing in Lagos on Wednesday, where he highlighted the institution’s achievements and outlined its strategic growth plans for the next five years.
Established to address financing challenges faced by small businesses, DBN provides long-term funding, credit guarantees, and capacity-building support through participating financial institutions. The bank’s mandate is to improve access to finance for MSMEs, which play a critical role in Nigeria’s economic development.
Expansion Plans
Okpanachi said DBN is now targeting an outstanding loan portfolio of N1 trillion while planning to issue N500 billion in guarantees under its new growth strategy. The bank also aims to support more than two million MSMEs and facilitate the creation of two million direct and indirect jobs over the next five years.
“Our strategic intent over this period is to achieve scale by expanding support for MSMEs and strengthening inclusive economic growth,” he said.
To achieve its expansion objectives, the bank plans to mobilise N1.3 trillion in debt and equity capital over the next five years, broadening access to finance and increasing its developmental impact across key sectors.
According to Okpanachi, DBN has built a financing network of 84 Participating Financial Institutions (PFIs), including commercial banks, microfinance banks, merchant banks, and development finance institutions, enabling it to reach businesses nationwide.
He noted that women-owned businesses accounted for 77 per cent of beneficiaries supported by the bank, while youth-led enterprises represented 28 per cent. The figures reflect DBN’s focus on inclusive financing and support for underserved groups.
The bank has also directed substantial funding to conflict-affected and economically disadvantaged regions. It disclosed that N108 billion was disbursed to more than 132,000 MSMEs operating in states such as Borno, Adamawa, Katsina, Yobe, and Zamfara.
Development Bank of Nigeria MSME Financing
In 2025 alone, DBN said it disbursed over N358 billion to more than 289,000 MSMEs and added five new participating financial institutions to its network.
Its subsidiary, the Impact Credit Guarantee Limited (ICGL), has guaranteed loans exceeding N500 billion since inception, supporting more than 93,000 MSMEs and small corporate businesses through over 130,000 credit guarantees.
The subsidiary has also helped sustain more than 203,000 jobs while extending guarantees to businesses operating in underserved communities. Okpanachi added that ICGL has strengthened its operations through partnerships with institutions including the African Development Bank and the European Investment Bank.
As part of its new five-year strategy, DBN plans to allocate 40 per cent of its lending to women-led businesses, 30 per cent to youth-owned enterprises, and 15 per cent to MSMEs operating in underdeveloped geopolitical zones and priority states.
The plans follow recent initiatives by the bank to expand financing opportunities for small businesses. In May 2026, DBN secured a $61 million financing package aimed at increasing access to affordable credit for women-owned and women-led MSMEs, with more than 95 per cent of the funding earmarked for women-focused enterprises.
Earlier this year, the bank also unveiled plans to grow its outstanding loan portfolio to more than N1.8 trillion as part of a long-term strategy to deepen support for Nigeria’s MSME sector.
