Development Bank of Nigeria DBN has expressed its readiness to support the growth of Micro, Small and Medium Enterprises MSMEs to boost Nigeria’s overall economic development.
The Bank’s Chief Economist, Professor Nnana, made this known during the launch of the DBN Innovation Hub for the North West Zone in Kaduna.
Professor Nnana explained that since inception, the Development Bank of Nigeria has remained steadfast in the mission of expanding access to finance for Micro, Small and Medium Enterprises which he said are the life blood of the economy.
Acknowledging strategic partnerships with financial institutions to grow the economy, professor Nnana noted that it’s five year strategic plan was anchored on the pillars of inclusion, innovation and impact.
He submitted that the Bank has so far trained over 50,000 MSMEs through online and offline channels, stressing that more than 700, 000 women led MSMEs are beneficiaries of about 322 billion naira in funding.
He said 260,000 youth led MSMEs were beneficiaries of 151, 000 billion naira with 106,000 start ups receiving financing to the tune of 119 billion naira.
In a goodwill message, Northwest Zonal coordinator small and medium enterprises development agency of Nigeria Abdulkadir Muhammad Tsanni charged SMES in the zone to embrace the ongoing initiative for socioeconomic development.
Earlier in an address, governor Uba Sani of Kaduna State represented by Executive Director Operations of the state enterprise development agency Abdulhadi Abdullahi assured of renewed collaboration with DBN to achieve economic growth.
The event was attended by officials of the bank, kaduna State Government and the micro small and medium enterprises amongst others.
COV/MANSUR SULEIMAN PAKI
