Empowering Economic Growth
The Development Bank of Nigeria (DBN) has injected N112 billion into the manufacturing and agricultural sectors, benefiting 11,859 businesses. This significant financial boost was disclosed by DBN’s Managing Director, Tony Okpanachi, at the 4th Annual Service Ambassadors Award ceremony.
Strategic Sector Funding
The manufacturing sector received N74 billion, aiding 3,696 businesses, while the agricultural sector saw N38 billion disbursed to 8,163 businesses. These investments are pivotal in propelling Nigeria’s economic growth and ensuring sustainable development.
Future Prospects and Achievements
Following a successful initial five-year strategy, DBN is poised to enter a new phase aiming for expanded growth and scale. The past year alone saw a 73% increase in loan disbursements, marking significant achievements in funding accessibility for MSMEs.
Recognizing Partnership Success
DBN highlighted the role of partner banks like First Bank of Nigeria and Sterling Bank, which demonstrated exceptional growth and were recognized as platinum winners. The bank’s efforts have resulted in an 81% growth in MSME beneficiaries, emphasizing a stronger future for Nigeria’s economic landscape.
