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DBN disburses N133bn to MSME’s in 18 months

The Development Bank of Nigeria (DBN) says it has in the last 18 months disbursed a total of N133 billion to Micro, Small and Medium Enterprises (MSMEs) operators in the country.

The DBN Managing Director, Mr Tony Okpanachi, stated this at the ongoing Nigerian Export-Import (NEXIM) Bank, South -South Enlightenment and Engagement Forum on Wednesday in Asaba, Delta.

Mr Okpanachi, represented by Mr Bona Okhaimo, Chief Operating Officer of the Bank, said no fewer than 100, 000 MSMEs in the country benefited from the N133 billion through Participating Financial Institutions (PFI).

He said the bank disbursed the fund though 27 participating financial institutions in the country.

“In the South South region alone, the bank has disbursed about N20 billion to 15, 000 MSMEs operators while in Delta State, it has disbursed N3.1 billion to 3,000 MSMEs operators.

“DBN in 2020 has helped to build capacity by training 100 MSMEs in Lagos Business School,” he said.

The managing-director noted that the MSMEs sector was still men dominated and called for more women to venture into the sector.

He encouraged the investors to take advantage of the financing infrastructure available in DBN to raise their investment and key into the export potentials in the country.

Managing-Director, Nigeria Incentives-Based Risk Sharing System for Agricultural Lending (NIRSAL), Mr Aliyu Abdulhameed said that the agency had since inception disbursed N121 billion to finance projects without recording any loss.

“It is not just enough to have potential, we need to have the reality on ground, NEXIM Bank and Bank of Industry must ensure that availability of raw materials so that there will be processing and exportation.

The forum is with the theme: “Maximizing Export Potentials of the Region for Economic Growth”.

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