Nigeria is taking another bold step toward economic inclusion and resilience through an ambitious partnership with the World Bank. The collaboration aims to expand access to finance for small and medium-sized enterprises, empower entrepreneurs, and strengthen the country’s financial ecosystem.
According to a recent project document from the World Bank, the new loan will primarily be directed through the Development Bank of Nigeria (DBN) and its subsidiary, Impact Credit Guarantee Limited. Both institutions are central to Nigeria’s ongoing drive to unlock credit opportunities for micro, small, and medium enterprises (MSMEs) — the real engines of growth and innovation.
The project, titled FINCLUDE, leverages DBN’s robust network and Impact Credit Guarantee’s risk-sharing platform to drive inclusive MSME finance across every region of the country. This design ensures that more businesses, especially those led by women and youth, gain easier access to credit while reducing lending risks for financial institutions.
Beyond providing funds, the FINCLUDE Project focuses on building capacity and trust in Nigeria’s credit market. By introducing structured guarantees and encouraging private sector lending, it helps banks extend their services to previously underserved entrepreneurs. Through this inclusive framework, the initiative not only expands credit but also promotes financial literacy, transparency, and accountability — values crucial for sustainable economic growth.
Furthermore, the World Bank emphasized that this partnership reflects its confidence in Nigeria’s reform agenda and the growing stability of its financial institutions. The collaboration aligns with the Federal Government’s broader vision under President Bola Ahmed Tinubu’s administration to strengthen local industries, boost employment, and foster an enabling environment for small businesses to flourish.
Crucially, the FINCLUDE Project bridges the persistent gap between policy ambition and practical impact. Many MSMEs in Nigeria face challenges securing affordable loans despite their potential to create jobs and contribute to GDP growth. By working through DBN and Impact Credit Guarantee, the World Bank ensures that funds reach credible institutions already proven to deliver results. This layered approach makes the initiative more effective and scalable across sectors such as agriculture, manufacturing, technology, and creative industries.
In addition, the project represents more than just financial support; it’s a statement of confidence in Nigeria’s entrepreneurial spirit. The World Bank’s continued investment underscores the global recognition that inclusive growth begins with empowering local businesses. With better access to credit, entrepreneurs can innovate, scale operations, and create employment opportunities that stimulate communities nationwide.
As Nigeria continues to implement financial reforms and strengthen its credit ecosystem, initiatives like FINCLUDE will play a transformative role in unlocking the country’s full economic potential. Through collaboration, innovation, and sound policy execution, Nigeria is well on its way to building a more inclusive economy — one where every entrepreneur, regardless of size or sector, can access the tools needed to thrive.
With determination and clear vision, the partnership between Nigeria and the World Bank marks a pivotal chapter in the nation’s journey toward sustainable, inclusive prosperity.
