The Development Bank of Nigeria (DBN) has disbursed over N1 trillion in loans to more than one million micro, small and medium-sized enterprises (MSMEs) since 2017. Dr. Tony Okpanachi, managing director of DBN, disclosed this during a media briefing in Lagos on Wednesday. He stated the financing has contributed to the creation of 1.6 million jobs nationwide. The bank operates by providing long-term financing, credit guarantees and capacity-building support through 84 Participating Financial Institutions, including commercial and microfinance banks.
Okpanachi outlined DBN's five-year strategic goals, which include maintaining an outstanding loan portfolio of N1 trillion, issuing N500 billion in credit guarantees, supporting over two million MSMEs and facilitating two million direct and indirect jobs. The bank also plans to raise N1.3 trillion in debt and equity funding to scale its operations. In 2025, DBN provided N358 billion to 289,000 small businesses and onboarded five new financial partners.
Women-owned businesses account for 77 percent of DBN's beneficiaries, while youth-led enterprises make up 28 percent. Over N108 billion has been disbursed to 132,000 MSMEs in conflict-affected and economically disadvantaged states, including Borno, Adamawa, Katsina, Yobe and Zamfara. The bank's subsidiary, Impact Credit Guarantee Limited (ICGL), has guaranteed over N500 billion in loans since inception, supporting 93,000 MSMEs and sustaining 203,000 jobs. ICGL has partnered with the African Development Bank and the European Investment Bank to expand its reach.
DBN's forward focus includes allocating 40 percent of lending to women-led businesses, 30 percent to youth-owned enterprises and 15 percent to businesses in underdeveloped regions. Earlier in 2025, the bank secured a $61 million funding package, with over 95 percent directed at women-owned and women-led businesses. The bank also aims to grow its total loan portfolio to over N1.8 trillion in the coming years.
DBN claims 77 percent of its loan beneficiaries are women, yet directed only 40 percent of future lending to them. The bank's own data shows women drive the majority of supported businesses, but the new target implies a reduction in their share of future financing. This shift could limit growth for women entrepreneurs who currently form the core of DBN's outreach. The plan raises questions about how the bank defines commitment to the group it says it already serves most.
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