DBN Empowers Over 1,000 MSMEs in Northern Nigeria

Nume Ekeghe

As part of its on-going efforts to enhance the capabilities of Micro, Small, and Medium Enterprises (MSMEs) in Nigeria, the Development Bank of Nigeria (DBN) recently arranged a one-day training session for more than 1,000 small businesses in six states situated in the Northeast and Northwest regions.

The participating MSMEs were located in Gombe, Maiduguri, Adamawa, Katsina, Sokoto, and Kebbi. In each of these locations, the training program focused on building the capacity of the MSMEs and featured facilitators who possessed expertise in business management specifically tailored for small and medium-scale enterprises.

A statement from DBN stated that the training focused on optimisation and development of skills, aimed at further strengthening the capacity of the beneficiaries to scale up their businesses.

It also said the key objective of the training programme across locations, was to help the owners of the businesses develop their capacity and gain better knowledge of how they could access the DBN funding through the participating financial intermediaries (PFI).

The Managing Director/CEO, Development Bank of Nigeria, Dr. Tony Okpanachi, commended the facilitators for bringing their expertise and experience to bear and expressed the optimism that the training would have a lasting impact on the participants and their businesses. 

He affirmed that the training was in line with the Bank’s unwavering commitment to strengthening the capacity of MSMEs in the country so that they can continue to contribute more to economic growth and development of the country.

Okpanachi said: “The strategic role of MSMEs as enablers of socio-economic development cannot be over-emphasised. A larger percentage of businesses in Nigeria are in the informal sector dominated by MSMEs. The MSMEs sector is a significant pillar for the Nigerian economic growth; they make up 97 per cent of businesses, generate six million jobs and contribute 50 per cent of national GDP.

“Small businesses are value-creators and they create wealth for individuals. At DBN, we are passionately committed to seeing MSMEs increase their capacity for growth and expansion, and being more sustainable so that together, we can continue to build a stronger economy for the benefits of all Nigerians.”