Development Bank of Nigeria Disburses N1 Trillion to Empower Nigerians in 10 Years
- The Development Bank of Nigeria (DBN) has disclosed that it has disbursed over N1 trillion via different empowerment schemes
- The bank disclosed that most of the beneficiaries of these schemes were women, as it seeks to balance the gender gap
- achievement highlights DBN’s pivotal role in supporting the growth of Micro, Small, and Medium-sized Enterprises (MSMEs)
Pascal Oparada, a reporter for Legit.ng, has over ten years of experience covering technology, energy, stocks, investment, and the economy
The Development Bank of Nigeria (DBN) has announced a significant milestone, disbursing over N1 trillion in empowerment interventions since its inception in 2015.
A remarkable 62% of these funds have directly benefited women, underscoring the bank’s commitment to gender inclusion and economic upliftment.
Source: Twitter
A Decade of impact: Empowering through finance
This monumental achievement highlights DBN’s pivotal role in supporting the growth of Micro, Small, and Medium-sized Enterprises (MSMEs) and fostering a more inclusive economy across Nigeria.
Speaking at a recent women’s empowerment program in Yola, Adamawa State, Tony Okpanachi, the Managing Director of DBN, emphasised the bank's dedication to financial inclusion.
The event, themed ‘Empowering Women Through Entrepreneurship for Economic Inclusion,’ brought together 200 women from across Adamawa’s 21 local government areas for comprehensive training.
This initiative, a collaborative effort between DBN and the Organisation for Environmental, Agricultural and Health Development (OEAHD), aims to equip women with the necessary knowledge and tools to transition from financial exclusion to active participation in the economy.
Bridging the gender gap: Skills for sustainability
According to a report by TheCable, Okpanachi, represented by Idris Salihu, the bank’s head of corporate services, reiterated the critical importance of empowering women.
He noted that women are vital contributors to economic growth and community well-being, and strengthening their capacity leads to greater financial independence and productivity.
The DBN has also established a robust monitoring and evaluation framework to ensure the sustainability and impact of businesses created through these programs.
Tabitha Sallah, President of OEAHD, highlighted the practical skills imparted during the training, which covered agriculture, sustainability, health, and entrepreneurship.
This targeted approach is designed to bridge the existing gender gap in economic opportunities.
Sallah expressed OEAHD’s unwavering commitment to ensuring that women are integral to Nigeria’s economic transformation, stating, “Our participation and leadership are not optional; they are essential.”
She commended DBN for their partnership, recognising it as a national acknowledgement of the crucial role women play in driving economic progress.
Neido Kofulto, Adamawa’s Commissioner for Women Affairs, praised the initiative as timely and essential, urging participants to apply their newfound skills to improve their livelihoods and contribute to community growth.
Beyond DBN: Broader federal commitment to empowerment
The DBN’s efforts are part of a broader commitment by the Nigerian Federal Government to empower its citizens through various intervention schemes.
Similar to DBN’s focus on providing accessible finance and training for MSMEs, other initiatives such as the TraderMoni, MarketMoni, and FarmerMoni programmes under the Government Enterprise and Empowerment Programme (GEEP) aim to provide collateral-free loans to petty traders, artisans, and farmers.
Furthermore, the N-Power scheme focuses on job creation and skills acquisition for unemployed youth, while the Presidential Youth Empowerment Scheme (P-YES) offers training and financial support for young entrepreneurs.
These diverse schemes collectively aim to foster a resilient and inclusive economy, ensuring that more Nigerians, particularly women and youth, have the resources and skills to thrive.
Source: Twitter
DBN’s N1 trillion disbursement is a testament to the success of these sustained efforts in empowering Nigerians and driving economic development.
FG orders immediate release of ₦250bn loan
Legit.ng earlier reported that Vice President Kashim Shettima directed the immediate implementation of the Presidential Food Coordinating Unit (PFSCU) to hasten the disbursement of the Nigerian government’s N250 billion credit support for smallholder farmers at a single-digit interest rate.
The VP asked the PFSCU to design an implementation strategy for the loan, reiterating the need to avoid delays in the disbursement and ensure that the right beneficiaries receive the funds.
The Vice President gave the directive on Thursday, September 11, 2025, at the 6th meeting of the Unit’s steering committee at the Presidential Villa in Abuja.
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Proofreading by Kola Muhammed, copy editor at Legit.ng.
Source: Legit.ng
