Over One million businesses benefit as DBN reaches N1 trillion lending milestone

The Development Bank of Nigeria (DBN) has provided more than N1 trillion in loans to over one million micro, small and medium-sized businesses (MSMEs) across Nigeria since it started operations in 2017.

DBN Managing Director, Dr. Tony Okpanachi, revealed this during a media briefing in Lagos on Wednesday. He said the bank’s support has helped create more than 1.6 million jobs nationwide.

The bank was established to help small businesses overcome challenges in getting access to finance. It provides long-term loans, credit guarantees and training through commercial banks, microfinance banks and other financial institutions.

Future Plans

Okpanachi said DBN plans to increase its impact over the next five years. The bank aims to:

Build an outstanding loan portfolio of N1 trillion.

Issue N500 billion in credit guarantees.

Support more than two million MSMEs.

Help create two million direct and indirect jobs.

Raise N1.3 trillion in debt and equity funding to expand its operations.

According to him, the bank’s goal is to strengthen small businesses and promote inclusive economic growth.

Support for Women, Youth and Vulnerable Areas

DBN currently works with 84 Participating Financial Institutions (PFIs), including commercial and microfinance banks, to reach businesses across the country.

The bank said women-owned businesses account for 77 percent of its beneficiaries, while 28 percent are youth-owned enterprises.

It has also supported businesses in conflict-affected and economically disadvantaged states such as Borno, Adamawa, Katsina, Yobe and Zamfara. More than N108 billion has been disbursed to over 132,000 MSMEs in those areas.

2025 Performance

In 2025 alone, DBN provided over N358 billion to more than 289,000 small businesses and added five new financial institutions to its network.

Its subsidiary, Impact Credit Guarantee Limited (ICGL), has guaranteed loans worth over N500 billion since inception. The guarantees have supported more than 93,000 MSMEs and small companies, helping to sustain over 203,000 jobs.

ICGL has also partnered with international organisations such as the African Development Bank and the European Investment Bank to strengthen its operations.

Focus Areas Going Forward

As part of its new five-year strategy, DBN plans to:

Direct 40 percent of its lending to women-led businesses.

Allocate 30 percent to youth-owned enterprises.

Channel 15 percent of its loans to businesses in underdeveloped regions and priority states.

Earlier this year, DBN secured a $61 million funding package, with more than 95 percent of the money earmarked for women-owned and women-led businesses. The bank also announced plans to grow its loan portfolio to more than N1.8 trillion in the coming years.