Tony Okpanachi, Managing Director and Chief Executive Officer of the Development Bank of Nigeria Plc (DBN), has reaffirmed the critical role that capacity building plays in unlocking the potential of Micro, Small, and Medium Enterprises (MSMEs) — describing it as a key driver of sustainable economic growth in Nigeria.
In a statement issued by the Bank, Okpanachi emphasized that empowering MSMEs through structured training and business development support is central to the DBN’s mission of fostering inclusive growth, promoting entrepreneurship, and strengthening the country’s economic resilience.
“Our capacity-building initiatives serve as a catalyst for unlocking the potential of MSMEs, which are instrumental in driving innovation, generating employment, and creating economic prosperity in Nigeria,” he stated.
According to Okpanachi, while access to finance remains an important aspect of business growth, many MSMEs struggle not because of funding constraints alone but due to gaps in capacity — such as financial literacy, business planning, and market access. He noted that addressing these challenges through practical training and mentorship is essential for ensuring long-term sustainability and competitiveness among small businesses.
He highlighted the Development Bank of Nigeria’s commitment to supporting MSMEs beyond just financial intermediation. Through its capacity-building programmes, DBN offers tailored support to entrepreneurs across sectors, including digital skills, strategic business planning, record keeping, and market linkage facilitation.
“Our approach goes beyond funding — it is about equipping MSMEs with the knowledge, tools, and networks they need to thrive in today’s dynamic and competitive economy,” Okpanachi said.
He further noted that DBN’s training programmes have impacted thousands of entrepreneurs across Nigeria, helping to build stronger business foundations and increase the success rate of small enterprises, many of which serve as the backbone of local economies.
MSMEs currently account for a significant portion of Nigeria’s workforce and contribute substantially to the nation’s GDP. Yet, many continue to face systemic challenges, including limited access to credit, inadequate infrastructure, and a lack of business support services.
By integrating capacity development with access to finance, DBN aims to create a more enabling environment for small businesses to scale and contribute meaningfully to national development.
Okpanachi concluded by calling on stakeholders — including financial institutions, government agencies, development partners, and the private sector — to collaborate in supporting the growth of MSMEs through policies and initiatives that focus not only on capital but also on strengthening institutional and entrepreneurial capacity.
With its growing footprint in Nigeria’s MSME ecosystem, DBN continues to position itself as a strategic enabler of inclusive growth, ensuring that small businesses are not just surviving but thriving in a fast-changing economic landscape.
