Tony Okpanachi, managing director and chief executive officer, disclosed this on Thursday in Abuja during the presentation of the bank’s 2025 financial statement at its 9th Annual General Meeting (AGM).

Okpanachi said that DBN disbursed over N300 billion to MSMEs in 2025 alone, reaching more than 180,000 businesses nationwide.

He added that the bank’s focus goes beyond loan disbursement to ensuring that funds reach intended beneficiaries and translate into measurable business growth and job creation.

He explained that DBN operates an indirect lending model, partnering with commercial and microfinance banks that bear the credit risk and set lending rates for beneficiaries.

According to him, the bank also strengthened its capacity-building initiatives, training more than 48,000 MSMEs in 2025 on best business practices and improving their access to finance.

Okpanachi emphasised that capacity development remains central to DBN’s strategy, noting that equipping small businesses with the right skills is critical for sustainability and long-term growth.

He said the bank remains committed to deepening support for the MSME sector by combining financial assistance with technical knowledge to enhance productivity and economic impact.

Meanwhile, shareholders of the bank approved a dividend payout of N8.5 billion, representing 85 kobo per share. The payout aligns with the bank’s dividend policy, which caps the payout ratio at 25 per cent.

Professor Benedict Okey Oramah, the president of the Bank, stated this at the 5th edition of youth summit organised by Grand Africa Initiative (GAIN), a pan-african non-governmental organization, in Abuja on the theme “Connecting Africa through Youth Entrepreneurship and Digital Innovation”.

Over the years, youth representatives from 91 countries, officials of Federal and State governments, development partners, notably, Development Bank of Africa (DBN), Afreximbank, and several others participated in the Summit.

The Afreximbank President in his submissions, said Africa is home to the youngest and fastest-growing population in the world, with more than 60 per cent of the continent’s population under the age of 25.

“This vibrant and dynamic youth population represents not only a challenge but also an immense opportunity for growth, innovation, and transformation across the continent.

“The youths of Africa are increasingly becoming the driving force of economic and social change. Their energy, creativity, and resilience are leading the charge in reimagining what is possible for the future of our nations.

“Yet, while this youth population holds immense potential, they often face significant challenges which include limited access to education and skills training, a lack of job opportunities, and barriers to entrepreneurship.

“With our youth population projected to double by 2050, young people are the driving force behind what we see today as Africa’s economic transformation. Our youths are creative, resourceful, energetic, innovative and resilient.

“A recent empirical survey of 4,507 young Africans from 15 countries shows that 78 per cent of young Africans between the ages of 18 and 24 plan to start businesses within the next five years. They need the necessary knowledge, mentorship, and support, particularly digital infrastructure to enable them succeed.”

Ambassador Isaac Parashina, Kenyan High Commissioner to Nigeria, In his presentation, also highlighted the fact that Africa is home to approximately 1.4 billion people, and It’s regarded the youngest continent in the world.

He said:

“The theme of this year’s Summit provides us with the opportunity to critically examine the nexus between youth entrepreneurship and digital transformation for a prosperous Africa, which is more recognized as the continent of the future because of its vast natural resources, vibrant youthful population, and rapidly expanding markets.

“With a rich abundance of resources and untapped potential, Africa stands at a critical juncture where strategic investments and innovations could propel it to become a global leader in various sectors.

“The continent’s demographic profile, particularly its youth, offers a unique advantage that can drive the next wave of economic growth and development. But to unlock Africa’s full potential for growth and prosperity, a focused and concerted approach is required.

“Undisputedly, the youths of Africa represent a tremendous resource that is currently underutilized. With over 70 per cent of the population under the age of 30, the continent has an energetic and innovative workforce, but the major hindrance to harnessing the full potential is the lack access to the necessary resources, education, and support systems to turn their ideas into viable businesses or impactful ventures.”

He insisted that deliberate policy actions must be undertaken by governments and other interlocutors to empower the youth to engage in entrepreneurship in order to create jobs, foster innovation, and diversify African economies.

The Kenyan Diplomat further stated that entrepreneurship is a critical component of Africa’s economic future and by creating an environment where young people can thrive as entrepreneurs, Africa will be able to harness the full power of its youthful population.

“This can be achieved by providing access to finance, mentorship, and networks that encourage innovation and risk-taking. Promoting a culture of entrepreneurship across the continent will not only address the issue of youth unemployment but also stimulate economic growth, creating new industries and business opportunities in both urban and rural areas.

“Equally important is the need to invest in robust digital infrastructure across the continent. The digital revolution has transformed economies worldwide, and Africa must not be left behind. It enables connectivity, which is crucial for the success of businesses, particularly start-ups. Reliable internet, mobile technology, and digital payment systems can help young entrepreneurs access global markets, collaborate with international partners, and create scalable solutions to local problems.

“With the right tools and support, the youths can drive entrepreneurship that fuels economic growth, while digital infrastructure would enhance efficiency and connectivity across the continent.”

Meanwhile, Ms. Chinwe Okoli, the founder of the organisation, in her remarks, said that for many years, the organization has engaged in developing and harnessing unique ideas, talents and abilities of young ones in Africa, helping them to succeed in education, entrepreneurship, innovation and employment.

She said:

“We have trained, mentored, and empowered African youths with digital, leadership, employability, and entrepreneurial skills for self-sustenance and professional growth using the limited resources available to us.”

A participant, Abdullahi Musa, described the Summit as an eye opener for him, considering the knowledge that was made available to him.

He said:

“I participated in previous Summits and other Masterclasses organised by GAIN. Those opportunities have helped me develop and sharpen my entrepreneurship skills, and I can see impact in my engagements afterwards.”

This transformative initiative is set to empower 350 women entrepreneurs who would be selected from across Nigeria, providing them with essential skills to foster the growth and expansion of their enterprises over a comprehensive six-week training period.

Application for GAIN Entrepreneurship Masterclass for Women (Nigeria)’ opens on September 6, 2024. The program will include training and mentorship sessions which will be held virtually.

In a joint statement released by DBN and GAIN, it was highlighted that the Women’s Masterclass has been meticulously designed to address the unique challenges faced by female entrepreneurs in Nigeria.

The program will offer targeted support in areas such as financial literacy, strategic marketing, business modeling, legal aspects of business, structure and processes, customer management, business branding and so much more, enabling participants to fully capitalize on the opportunities available in Nigeria’s growing economy.

 “At DBN, we believe that women entrepreneurs are crucial to the sustainable development of Nigeria’s economy. Our partnership with GAIN reaffirms our commitment to supporting women-led MSMEs by providing them with the necessary tools, knowledge, and financial empowerment to thrive. By addressing the specific challenges women face in business, we are creating a more inclusive and resilient entrepreneurial ecosystem. Through initiatives like this, we aim to close the gender gap in entrepreneurship, ensuring women entrepreneurs have equal access to resources, training, and financing” said Dr. Tony Okpanachi, managing director/CEO of Development Bank of Nigeria.

Janet Oladapo, the Programme Officer for GAIN commented on the continued collaboration with DBN, “We are excited for the impact that this holds as we have seen remarkable success in the previous 4 editions of our entrepreneurial masterclasses, and we are happy to extend this opportunity to more women entrepreneurs in 2024.

This Masterclass not only offers participants high-quality training; it also provides them with opportunities to network, receive guidance from seasoned global mentors, and acquire the comprehensive knowledge needed to drive substantial growth in their businesses.”

The Entrepreneurship Masterclass aligns with the broader missions of both GAIN and DBN. Both partners remain committed to empowering African youths and women by providing them with skills and resources necessary to drive sustainable economic development across the continent.

DBN, on the other hand, continues to support Nigeria’s micro, small, and medium enterprises (MSMEs) by alleviating financing constraints and creating an enabling environment for their growth.

How to APPLY:

Applicants can apply online via the link HERE.

The lecture is a further affirmation of the Bank’s unwavering commitment to the needs and challenges of the Micro, Small and Medium Enterprises (MSMEs) in Nigeria.

The theme for this year’s lecture is, ‘Empowering Nigerian MSMEs in a Challenging Global Landscape”, with Mrs. Nneka Onyeali-Ikpe, the managing director/CEO, of Fidelity Bank Plc, as the Keynote Speaker.

A panel of eminent industry and business leaders with rich backgrounds drawn from across key sectors of the economy have been invited to also share their wealth of experience and perspectives on the theme.

They include the Managing Director/CEO of Rural Electrification Agency (REA), Abba Abubakar Aliyu; Managing Director, Founder Institute and Venture Partner at White Hibiscus Capital, Ajuma Ataguba; Chairman/CEO of Nord Automobiles Limited, Joshua Oluwatobi Ajayi; and CEO, Futuresoft, Nkemdilim Uwaje Begho.

Speaking on the importance of the lecture theme, DBN’s Managing Director/CEO, Dr Tony Okpanachi, said although MSMEs are the backbone of the Nigerian economy and major contributors to job creation and economic growth, local, regional and global challenges pose significant threats to their survival and prosperity.

He said the lecture would serve as a veritable platform for experts, leaders of businesses from across industries and sectors, as well as stakeholders to discuss the myriad of challenges faced by the MSMEs to channel a way forward for them.

“Access to affordable financing is a major hurdle for MSMEs as traditional loan options are often out of reach due to stringent obstacles.

This is further exacerbated by disruptions in the global supply chain, causing delays and price fluctuations in raw materials and finished goods, impacting MSMEs’ production and profitability,” he noted.

Dr Okpanachi explained that the MSME sector, like other sectors of the economy, is also trying to adjust to the macroeconomic challenges currently being experienced in the country.

He added, however, that the Federal Government is committed to addressing the issues and has rolled out many interventions that would help stimulate further growth of the MSMEs in the country.

According to him, the DBN Annual Lecture Series is also one of the many initiatives being deployed by the Bank to support the current administration’s efforts.

He emphasised the need for all hands to be on deck to move the Nigerian economy into prosperity and abundance for all.

Dr Okpanachi further expressed his confidence that this year’s lecture would serve as a platform to think out of the box and explore creative ways of enabling the real sector to boost productivity.

“This year’s lecture series like others before promises to be very engaging and rewarding to all stakeholders. Consequently, I am extending our warm invitation to all stakeholders in government, development partners, the private sector and the MSMEs to be part of the event.

This year’s theme, “Land Restoration, Desertification, and Drought Resilience,” guided DBN’s comprehensive initiatives aimed at addressing critical environmental challenges.

The World Environment Day, celebrated annually every June 5, is a global platform established by the United Nations to raise awareness and promote actions for the protection of our environment.

In a demonstration of environmental stewardship and corporate social responsibility, DBN’s team engaged in a collaborative effort to plant trees in two strategic locations – the Lekki Conservation Centre in Lagos and Kpeygi Community in Abuja.

Through this impactful gesture, the bank reinforces its commitment to environmental conservation and sustainable development.

Speaking during the planting ceremony, Managing Director/CEO, Development Bank of Nigeria, Dr. Tony Okpanachi emphasized the importance of reforestation in combating desertification and promoting biodiversity.

He said:

“Land restoration is crucial for maintaining ecological balance and combating the adverse effects of desertification. By planting trees, we are not only restoring the land but also ensuring a sustainable environment for future generations.”

“So we are thrilled to celebrate this World Environment Day by engaging in this meaningful tree planting initiative, because at DBN, we are driven by the believe that environmental sustainability is a shared responsibility, and through initiatives like this, we are consciously contributing to the mitigation of climate change, improving air quality, and enhancing biodiversity in our communities”.

Speaking further, Dr. Okpanachi noted that “As the world grapples with pressing environmental challenges, this tree planting initiative will serve as a shining example of corporate leadership and sustainable action. By harnessing the collective power of our employees and partners, we have proven that when it comes to protecting the environment, every action – no matter how small, counts.”

He stated that:

“The tree planting drive underscores the bank’s broader sustainability efforts, including the integration of environmental, social, and governance (ESG) principles into its business operations. By prioritizing sustainability, DBN seeks to align its activities with global best practices and contribute to the green transition in Nigeria’s economic landscape.”

In his remarks, Dr. Joseph Onoja, the director-general, Nigerian Conservation Foundation (NCF),  represented by Uchenna Achunine, the organization’s director of Business Development and Communications,  commended the management of DBN for launching such audacious initiative aimed at promoting a greener and sustainable environment in Nigeria.

“We are happy that DBN understands the role and importance of fostering a culture of environmental responsibility within its organization. This tree planting project is an act of sowing the seeds for a more resilient, green future that benefits both people and the planet.”

“I want to express my profound gratitude to the management and staff of DBN for prioritizing sustainability by taking on this bold initiative. Permit me to use this medium to appeal to other organizations to borrow a leaf from what DBN has done, by contributing their own quota in preserving and conserving our environment.”

According to him” There is a very strong nexus between tree planting and climate change. When you plant trees, you will have greener environments, and that will lead to a healthier planet free from carbon monoxide which is poisonous to the human body”.

In its previous contributions towards a sustainable environment, the Development Bank of Nigeria initiated various projects to commemorate the World Environment Day, such as the donation of receptacles to the Federal Capital Territory (FCT), Lagos, Kano and Rivers states for the collection of recyclable waste.

The launch of Green Clubs in selected schools in Lagos and Abuja and the planting of carpet grass, trees, and landscape designs in some selected schools are also some of the initiatives of the DBN towards the protection of the environment.

In the same vein, staff of DBN visit select schools across the country to interact with and provide training to students on recycling and other responsible behaviours toward the environment – all in a bid to nurturing and protecting the planet.

Okpanachi made the disclosure during this year’s International Women Day held at Wuye Ultra-Modern Market in Abuja, with the theme “Celebrating the Amazons in the Market Place – Inspire Inclusion”.

He also said: “Despite enjoying this lion share of disbursed funds, statistics from the Participating Financial Institutions (PFIs) indicate that Non-Performing loans (NPLs) from disbursement to women remains the lowest within the industry”.

Okpanachi, represented at the occasion by Mrs Ijeoma Ozulumba, the executive director, Finance and Corporate Services at DBN, applauded Nigerian women as great entrepreneurs and faithful customers in loans’ repayment within the SMEs sector.

According to the DBN’s Chief Executive;

“So far from the intervention that we’ve seen, our banks have reported to us that our portfolio has the lowest Non Performing Loans (NPLs). There’s good recovery in the Loans and also women portfolio is even lower in terms of default”.

He said the bank has so far disbursed over 700 billion Naira as loans to entrepreneurs with about 137 billion Naira to women and women owned businesses, adding; “In the number of end borrowers for our loans, 50 percent have been women”

Additionally, the development institution has provided support for the SMEs “beyond finances with the sole aim of boosting economic growth”, Okpanachi said, while noting that women have also enjoyed specific trainings on how they can manage their business and keep their books; how they can manage their operations; as well as access to market networks

He said beyond funding, DBN does a lot of training, especially location specific training, stressing that last year, the bank was in the North East and Northwest to ensure women have access to finance; and access to knowledge to grow and develop their businesses.

The DBN boss described the various measures taken by the institution towards empowering Nigerian women as “very important” in the efforts to drive development and growth in the nation’s SMEs sector.

The Bank bagged the following strategic awards; “Platinum Service Ambassador”; “Bank with the Highest impact on Women Issues”, and “Bank with the Highest impact on MSMEs Accessing Credit for the first time”.

The DBN Ambassadors Programme was designed to increase the sense of ownership among participating financial institutions, build capacity, increase on-lending to Micro, Small and Medium-scale Enterprises (MSMEs) and ultimately deepen financial inclusion in Nigeria. Ecobank is a participating financial institution in partnership with DBN to provide credit facilities, credit guarantee and technical support to MSMEs.

Receiving the awards at the event, Carol Oyedeji, Deputy Managing Director, Ecobank Nigeria,  said this a testament to the bank’s commitment to supporting and empowering women owned businesses and assisting small businesses to access loans conveniently at cheaper interest rates for the development of the overall MSME subsector.

Ecobank had the highest volume and value of transactions in these award categories

She reiterated that, Ecobank remains a women-friendly bank with many initiatives and innovative products targeted at empowering and sustaining female entrepreneurs in Africa such as ‘Ellevate’ and ‘Ecobank Female Entrepreneurs Initiative (EFEI)’, which are designed to empower and support female entrepreneurs.

Mrs. Oyedeji noted that Ecobank recently signed a USD200 million risk-sharing agreement with African Guarantee Fund (AGF), a specialized pan-African guarantee provider, stressing that it is aimed at catalyzing economic growth and supporting entrepreneurial ventures – including women-owned SMEs on the continent.

“Through this partnership, both organisations are taking bold steps to enhance green financing and gender financing. It would eliminate the rigorous and restrictive requirements for collateral, particularly hindering women-focused businesses’ access to credit.”

According to her, “We have both financial and social empowerment initiatives for female entrepreneurs because we recognise women as the bedrock of most families and entrepreneurship in the society.  We aim to eliminate the rigorous and restrictive requirements for collateral, hindering access to credit.”

In his welcome address, Tony Okpanachi, managing director, DBN, saluted the awardees, stating that their collaboration and commitment is impacting positively on the sustainable growth of the MSME sub-sector of the economy.

According to him, “your unwavering commitment to forging a lasting impact on the MSMEs through our collaboration is a testament to your dedication to fueling sustainable growth. The true essence of the DBN Awards shines through a celebration of sustainable triumph, where today’s aspirations evolve into tomorrow’s achievements.”

He explained that the DBN leverages its partnership with Participating Financial Institutions (PFI) to provide relatively cheaper loans as well as capacity building initiatives to small businesses.

The Development Bank of Nigeria (DBN) was conceived by the Federal Government of Nigeria (FGN) in collaboration with global development partners to address the major financing challenges facing Micro, Small and Medium Scale Enterprises (MSMEs) in Nigeria.

DBN’s objective is to alleviate financing constraints faced by MSMEs and small Corporates in Nigeria through the provision of financing and partial credit guarantees to eligible financial intermediaries on a market-conforming and fully financially sustainable basis.

Through one of its subsidiaries DLM Advisory, the DLM Capital Group has constructed and provided advice on Nigeria’s first development bond, which was issued by the Development Bank of Nigeria.

The Series 1 ₦23 billion, 14.40% 5-Year Bond under a N100 billion Medium Term Note Programme registered with the Securities and Exchange Commission was designed to make sustainable capital available to Micro, Small, and Medium-Scale Enterprises (MSMEs). On July 13, 2023, the first batch of bonds were issued.

Dr. Tony Okpanachi, the managing director and chief executive officer of the bank, commented on the bond issuance and emphasized that DBN’s main goal as an institution is to reduce the financial constraints faced by MSMEs and small businesses in Nigeria by providing financing and partial credit guarantees to qualified financial intermediaries on a market-conforming and fully financially sustainable basis. 

Mr. Nwabu Okonkwo, Vice President, Investment Banking at DLM Advisory Limited, said in a statement that the bond offering was favorably accepted by the market and attracted participation from a wide variety of investors, including domestic pension funds, asset managers, and insurance companies.

The Bank had planned to raise ₦20 billion, but overall subscriptions totaled ₦25.37 billion, or 1.26 times more than that amount. With eligible bids totaling ₦23 billion, the Series 1 Bond was offered at a clearing coupon of 14.40%.

DLM Capital Group GCEO, Mr. Babatunde Sonnie Ayere, commented on the transaction in a statement, saying, “DLM Capital Group is proud to have led this historic transaction which marks the debut bond by the Development Bank of Nigeria, reflecting the strong credit quality of the issuer as well as the resilience of the Nigerian Capital markets, despite the current global market volatility.”

With Standard Chartered Capital & Advisory Nigeria Limited serving as the Joint Issuing House, Agusto & Co., Deloitte & Touche, KPMG, Meristem Registrars & Probate Services Ltd., Zenith Bank Plc, Access Bank Plc, and First City Monument Bank are additional parties. Olaniwun Ajayi LP, G. Elias & Co., DLM Trust Company, ARM Trustees, GCR Ratings, and others are also involved.

According to the organizers, the course is designed to equip selected young women entrepreneurs from across the country with entrepreneurial knowledge and skills to build and scale their businesses to create wealth and jobs.

The training will cover areas critical to the success of MSMEs including ideation, legal, branding, marketing, communication, accounting, modelling, taxation, team building, structure etc.

Describing the significance of the Women Entrepreneurship Masterclass, Dr. Tony Okpanachi, the Managing Director, DBN, said:

“We are excited about this initiative which speaks to our mandate of providing sustainable funding, building capacity of the Nigerian MSMEs and also providing credit guarantee. The GAIN initiative has become imperative to reach as many women as possible by leveraging technology and promoting gender equality. At the end of this exercise, we hope to see more empowered women creating opportunities towards achieving sustainable social economic development”

On his part, Mr Jerry Momoh, the Programs and Partnership Lead at GAIN, stated;

“we are delighted to have the support of DBN as we continue to empower women to build sustainable businesses. This training prepares the women to develop themselves, empower them to develop their businesses, equip them with knowledge to create wealth and jobs by building thriving businesses. We strongly believe that entrepreneurship is a powerful tool for economic empowerment and gender inclusion. At GAIN, we are committed to supporting women and young people in general to unleash their potential and contribute significantly to economic development of Nigeria”.

According to Mr Momoh, this program is in line with one of our focus areas at Grand Africa Initiative-GAIN which is Women Empowerment.

He said the program is targeted at selected women from across Nigeria and who will benefit from a faculty of experts in various aspects of business.

“Eligible for the program are women who have a business or a business idea, between 22 to 45 years of age, have demonstrable interest in business, access to internet, internet-enabled device, and electricity to participate in the program. GAIN Entrepreneurship Masterclass for Women (Nigeria)’ is scheduled to open a call for application on July 4, 2023. The six week program will include training and mentorship sessions which will be held virtually”.

Application Link is via:  bit.ly/GAINDBN

The free entrepreneurship training is part of the Bank’s efforts toward achieving its core mandate of building the capacity of small businesses to enable them to formalize and upscale.

This essentially will address the challenges some of them face in accessing funding for their businesses.  

The training will be held on the DBN Learning Management System (LMS), a free learning portal with carefully curated self-paced courses that are open to all Nigerian MSMEs who are interested in acquiring the right knowledge needed to succeed in business.  

While speaking on the free DBN learning program for MSMEs, DBN Managing Director, Anthony Okpanachi said, “As part of our plans to strengthen our catalytic role in the Nigerian economy, we are expanding our reach to MSMEs and inviting interested Micro, Small and Medium Scale Enterprises to take advantage of our free Entrepreneurship Training Program to upscale their skills. Consequently, DBN is investing a lot of resources in driving skill acquisition across the different aspects of managing and sustaining a successful business across sectors.’’  

“I am confident that, MSMEs who take advantage of this opportunity will gain critical business skills that will pave the way for higher earnings, capacity, increased innovation, self-reliance, and most importantly, improve their ability to access funding for their businesses”, he added. 

By the end of the online training session on 23rd September, 200 businesses would be selected for a physical session taking place from October 17 to 21, 2022 in Lagos and Abuja.

It will provide an opportunity for businesses to practically learn and apply important principles from online training to their various businesses.

They will also have the opportunity to network and cross-sell their ideas with colleagues. 

Also, businesses/participants will be eligible to pitch their business ideas/value proposition to a carefully selected professional panel and successful pitches will be selected to receive grant funding to kick start their journey into the entrepreneurship space.  

Interested participants are encouraged to register by clicking the link here.

Participants are required to complete a minimum of four mandatory courses on the DBN BizAid Learning Management Platform and obtain an average score of 70 percent to be eligible for the in-person classes in Abuja and Lagos.