Development Bank of Nigeria Plc

Thank you to our incredible Participating Financial Institutions (PFIs) for working with us to bridge the gap and provide essential financing to MSMEs in Nigeria. Your support is making a real difference in the lives of Nigerian entrepreneurs. Today, we celebrate our PFIs, especially for living Above and Beyond, in our collaboration towards alleviating the financial constraints faced by MSMEs in having access to finance. Happy Customer Service Week! 💙 #DBNCSW #MSMEs #CustomerServiceWeek #DBNCustomerserviceweek #AboveandBeyond

Exciting news!! Development Bank of Nigeria (DBN) has partnered with Grand Africa Initiative -GAIN to launch the third edition of the GAIN Entrepreneurship Masterclass for 350 female entrepreneurs in Nigeria looking to turn their business idea into a thriving venture. If you’re interested in this opportunity, go to bit.ly/GAIN-DBN to fill out the application form to be considered. Don’t miss out on this exciting and beneficial opportunity to make your business idea thrive. #GAINMasterclass #Entrepreneurship #DBN

Happy Independence Day, Nigeria! 🇳🇬 From all of us at DBN. #IndependenceDay #Nigeria

#MSME'S on my mind! Honoured to be a part of the 5th DBN ( Development Bank of Nigeria Plc ) Annual Lecture Series which held on Wednesday 25,September at the Transcorp Hilton Hotel,Abuja Driving the conversation on "Empowering Nigerian MSMEs in a Challenging Global Landscape" was led by the host Tony Okpanachi, Ph.D, MD,Development Bank of Nigeria Plc and Keynote speaker Dr. Nneka Onyeali-Ikpe (OON) MD,Fidelity Bank PLC Had engaging discussions with bright minds on the panel moderated by Prof. Joseph Nnanna and other panelists including Nkemdilim Uwaje Begho F.SCGN ,Abba Aliyu , Oluwatobi Ajayi FICA , Lent a voice ,speaking on how policy frameworks/fiscal incentives can enable innovation of high growth technology companies given their potential. Noted the recent enactment of the Nigeria Startup Act in October 2022 and it's support to the startup ecosystem in areas such as capacity-building, ease of business registration/obtaining licences,tax incentives, access to funding, support for research and development etc Stressed the need for increased collaboration between NITDA (secretariat) and private sector in the implementation of the startup up bill. Expressed the importance of continuos investment in the technology backbone required to enhance startups operations and productivity. Highlighted the peculiarities of Tech Startups as companies that are hypergrowth focused and achieve compounded growth rates of 40% during the periods of rapid expansion/scaling. Patient capital is required! Butressed the need for the finance sector to take a closer look at the private equity/venture capital space an asset class that is highly untapped in Nigeria. Incubators and accelerators such as Founder Institute help with the de-risking of Tech startups making them fundable/investment ready to receive non-dilutive/debt/dilutive funding/blended finance. In closing a veteran banker, Mohammed Mustapha Bintube (Independent Executive Director) and Chairman ,Jaiz Bank Plc ,provided comfort in his vote of thanks thanking stakeholders and challenging SME's to keep building whilst making a commitment to further support. Highest point was the interaction with the MSMEs at the end of the program and a walk-through the exhibition booths viewing the different innovations on display. Nigeria's Got Talent! Thank you DBN for ....Financing Sustainable Growth! #MSME's #Economicdevelopment #nationbuilding

What an incredible event! 🎉 I had the pleasure of coordinating the virtual session of the 5th DBN Annual Lecture, and it was an honor to witness the insightful discussions on “Empowering Nigerian MSMEs in a Challenging Global Landscape.” Special thanks to our MD/CEO, Dr.Tony Okpanachi, Ph.D., and Prof. Joseph Nnanna for leading such engaging and insightful conversations. A huge thank you to Dr. Dr. Nneka Onyeali-Ikpe (OON) for the keynote speech, and to our esteemed panelists @Oluwatobi Ajayi FICA, Ajuma Ataguba,FIMC,CMC Abba Aliyu, and Nkemdilim Uwaje Begho F.SCGN for bringing their expertise to the table. To all our attendees, your participation made the event a resounding success! You were fantastic, and we can't wait to share more highlights with you. Development Bank of Nigeria Plc #DBNLectureSeries #EmpoweringMSMEs #BusinessGrowth #NigeriaEconomy #SustainableGrowth #DBN  

I attended the 5th edition of the Development Bank of Nigeria Plc Annual Lecture Series, themed 'Empowering Nigerian MSMEs in a Challenging Global Landscape,' on September 25th, 2024, at Transcorp Hilton Abuja. This insightful event underscored the crucial role of Micro, Small, and Medium Enterprises (MSMEs) in driving Nigeria's economy, despite the significant challenges they face both locally and globally. MSMEs remain the backbone of our economic landscape, fostering job creation, innovation, and overall prosperity. However, hurdles such as rising production costs, inflation, unstable exchange rates, and disruptions in global supply chains have created an uncertain operating environment for these businesses. A powerful panel session featured Abba Aliyu, MD/CEO of the Rural Electrification Agency of Nigeria; Ajuma Ataguba, FIMC, CMC of the Founder Institute Abuja; Oluwatobi Ajayi FICA, Chairman/CEO of Nord Automobiles Limited ; and Nkemdilim Uwaje Begho F.SCGN, MD of Futuresoft (Future Software Resources Ltd), moderated by Prof. Joseph Nnanna. Key takeaways from the event included: ✳ The need for affordable financing options tailored to MSMEs, such as loan guarantee schemes and innovative funding initiatives. ✳ The importance of infrastructure improvements, tax breaks, and simplified trade regulations to reduce operational costs. ✳ The call for sector-specific financial institutions, such as an MSME Bank and a Bank of Mining, to ensure affordable financing. ✳DBN's impactful efforts, including the disbursement of N786 billion in loans to nearly 500,000 MSMEs, which has created over 1.2 million jobs in key sectors like manufacturing and agriculture. Thanks to Tony Okpanachi, Ph.D, MD/CEO of Development Bank of Nigeria Plc, and our keynote speaker, Dr. Nneka Onyeali-Ikpe (OON), MD/CEO of Fidelity Bank PLC, for this great opportunity. It was also a fantastic opportunity to network with some incredible personalities at the event. This event served as a reminder of the critical importance of collaboration between government, financial institutions, and the private sector in fostering a conducive environment for MSMEs. By working together, we can empower Nigerian MSMEs to thrive amidst socio-economic and political headwinds and unlock their full potential. #MSMEs #EconomicGrowth #DBNLectureSeries #NigeriaEconomy #SustainableDevelopment #BusinessFinancing

Secrets to Empowering Nigerian MSMEs (Hint: It’s Not Just Money!) Picture this: you're chilling on a Friday afternoon, scrolling through your feed, and suddenly, you realize—wait, Nigerian MSMEs (Micro, Small, and Medium Enterprises) are literally holding up almost half of our economy?! 😮 Yep, they contribute 46% of the national GDP, and at the Development Bank of Nigeria’s annual lecture, held yesterday, 25th of September, 2024, that fact hit home hard. But what’s really going on with these businesses? Why are they struggling, and more importantly, how can we level them up? Don’t worry, we’ve got the tea. What's Keeping MSMEs Down? First things first, let’s talk about the obstacles. During the keynote, Dr. Nneka Onyeali-Ikpe (OON), CEO of Fidelity Bank PLC, dropped some hard truths. MSMEs in Nigeria are facing hurdles left, right, and center: - Funding woes: These businesses often don’t meet the rigid criteria set by commercial banks. Money troubles, ugh. - Foreign exchange chaos: With our fluctuating exchange rates, pricing goods and services is like playing roulette. - Bureaucracy & policy flip-flops - Over-taxation & poor bookkeeping. Basically, MSMEs are swimming against the current in a crazy storm of challenges. Fixing It: The Solutions We Need So, what’s the game plan? The experts at the lecture had some 🔥 ideas. Think of these solutions as cheat codes for the MSME world: 1. Create MSME-specific banks 2. Tech hubs for startups 3. Tax breaks for startups 4. Accredited schemes Dr. Nneka Onyeali-Ikpe (OON)-Ikpe wrapped things up with a solid truth bomb: “Small drops of water make an ocean in good time.” 👏 Panel Fireworks: Real Talk with the Experts The panel discussion brought even more 🔥 with heavyweights like Nkemdilim Uwaje Begho F.SCGN, CEO of Futuresoft, Oluwatobi Ajayi FICA, CEO of Nord Automobiles, Ajuma Ataguba,FIMC,CMC, MD Founder Institute, and Abba Aliyu, MD/CEO of the Rural Electrification Agency. Here’s the lowdown: - Powering up: Abba Aliyu emphasized that reliable electricity for SME hubs could cut their issues in half. Half, people! Imagine a world where small businesses don’t have to worry about power cuts every five minutes.  - Tech = Investment: Nkemdilim Uwaje Begho F.SCGN said what we’ve all been thinking—stop treating tech as an expense! It’s an investment, and without it, businesses are flying blind. - Natural gas anyone? Oluwatobi Ajayi FICA, CEO of Nord Automobiles, gave us the 411 on Nigeria’s transition to Compressed Natural Gas (CNG). Spoiler: it’s way cheaper than petrol. - Ajuma Ataguba,FIMC,CMC had this to say; NITDA Nigeria needs to partner with private sectors to provide policy frameworks which can in turn bridge the MSME-Technology gap and increase business longevity. MSMEs are the backbone of Nigeria’s economy, but it’s up to us to help them thrive, not just survive. PS: Don't we all look lovely next to the esteemed MD/CEO of Development Bank of Nigeria Plc Tony Okpanachi, Ph.D?

It was a privilege to speak on the panel at Development Bank of Nigeria Plc Annual Lecture on the future of MSMEs in the digital economy. The panel was moderated by Prof. Joseph Nnanna and included esteemed panelists Ajuma Ataguba,FIMC,CMC Abba Aliyu and Oluwatobi Ajayi FICA We explored how Nigerian MSMEs can leverage technology to enhance their competitiveness and scale, while also addressing the critical role of development finance institutions in driving this transformation. My recommendations focused on: *Future-Proofing Through Technology: Entrepreneurs need to adopt a mindset focused on future-proofing their businesses by seeing technology as a long-term investment, not just an operational expense. This approach ensures they remain competitive in an evolving digital landscape. *Technology as a Growth Driver: MSMEs must embrace technology as a growth enabler, investing in digital tools that automate operations, improve customer service, and streamline supply chain management. Simple solutions like accounting software, CRMs, and digital marketing platforms can be game-changers. * E-commerce & Market Expansion: Leveraging e-commerce platforms can help MSMEs reach beyond local markets, enabling quick scaling and access to new customer segments. * Digital Payments & Financial Inclusion: Adoption of digital payment systems is crucial for ease of doing business. Mobile money, POS systems, and online banking improve transaction efficiency, security, and traceability. *Data-Driven Decisions: Embracing data analytics allows businesses to optimize their strategies and make informed decisions based on customer behavior. *Digital Skills Development: Developing digital skills within the workforce is crucial to driving growth. MSMEs must prioritize upskilling to effectively utilize technology and stay ahead in a competitive market. * Exploring Alternative Funding Solutions for MSMEs: In today’s economic environment, alternative financing options like angel investors, early-stage VCs, crowdfunding, grants, philanthropic funding and social impact funds are essential and should be considered by MSMEs. #NkemdilimUwajeBegho #NkemdilimSpeaks #MSME #DigitalTransformation #DevelopmentBankOfNigeria #TechForGrowth #FinancialInclusion #FutureProofing #DigitalSkills #NigeriaBusiness #Entrepreneurship

The 5th DBN Annual Lecture held today and the theme was “Empowering Nigerian MSMEs in a Challenging Global Landscape”. We are incredibly grateful to our keynote speaker, Dr. Nneka Onyeali-Ikpe (OON), the MD/CEO, Fidelity Bank PLC, for her insights. Also, we extend our gratitude to all our panelists; Oluwatobi Ajayi FICA, Ajuma Ataguba,FIMC,CMC, Abba Aliyu, and Nkemdilim Uwaje Begho F.SCGN for not holding back during the conversations. To our MD/CEO, Dr. Tony Okpanachi, Ph.D and Prof. Joseph Nnanna who moderated the engaging conversations and ensured there were enough insights for our attendees, we doff our hats. Thank you to all our attendees for your active participation throughout the lecture. You guys were awesome. You made the 5th DBN Annual lecture a huge success. We’ll be sharing more event highlights, pictures, and videos momentarily. Thank you for your support. #DBNLectureSeries #EmpoweringMSMEs #BusinessGrowth #NigeriaEconomy #SustainableGrowth #DBN

Today 25th September, 2024. I was privileged to attend DBN LECTURE SERIES 2024. Theme: EMPOWERING NIGERIAN MSMES IN A CHALLENGING GLOBAL LANDSCAPE Micro, Small, and Medium Enterprises (MSMEs) are the backbone of Nigeria’s economy, making up over 96% of businesses and contributing significantly to employment and GDP. However, the global economic landscape poses considerable challenges, from fluctuating commodity prices and supply chain disruptions to inflation and shifts in consumer behavior. Empowering Nigerian MSMEs to thrive in a challenging global landscape requires a holistic and multi-stakeholder approach. By addressing the core issues of finance, digital transformation, capacity building, market access, innovation, and policy reform, Nigeria can ensure that its MSMEs not only survive global challenges but also seize new opportunities to scale, innovate, and contribute more significantly to economic growth and job creation. Abba Aliyu, MD/CEO. Rural Electrification Agency of Nigeria, Ajuma Ataguba,FIMC,CMC Founder Institute Abuja, Oluwatobi Ajayi FICA The CHAIRMAN/CEO Nord Automobiles Limited and Nkemdilim Uwaje Begho F.SCGN, MD Futuresoft (Future Software Resources Ltd) paneled a powerful session moderated by Prof. Joseph Nnanna. Keynote: Keep a Good Reputation. - A good reputation takes time to build but can be easily damaged. Consistent ethical behavior, strong communication, and maintaining a focus on delivering quality are the keys to preserving and growing it. It reflects the trust, reliability, and quality that others associate with you, helping to build long-term relationships and open doors to new opportunities. - Technology is an investment not an Expense. Thanks to Tony Okpanachi, Ph.D MD/CEO, Development Bank of Nigeria Plc and our KeyNote Speaker Dr. Nneka Onyeali-Ikpe (OON) MD/CEO, Fidelity Bank PLC for this great opportunity. #DBNLectureSeries #EmpoweringMSMEs #BusinessGrowth #NigeriaEconomy #Leadership #SustainableGrowth