How DBN Is Resolving MSME’s Conundrum In Nigeria

How DBN Is Resolving MSME's Conundrum In Nigeria

By: ABUBAKAR YUSUF.




The Development Bank of Nigeria DBN under it’s leadership and management that consisted local and international representatives had adopted a well articulated and frugal process geared towards establishing a well thought Medium and Small Scale Enterprises MSME’s to mitigate both natural and artificial occurrences.

Under the leadership of Dr Tony Okpanachi , the global finance house with domesticated programs had carried out both awareness, trainings, re-trainings and equitable distribution of funds directly to Small and Medium Scale Enterprises SME’s across the country in line with it’s mandate.

With the high ladder of responsibility multiplied as a result of both natural and artificial phenomenon ranging from COVID, Endsars and world global recession leading to job losses with Nigeria not in exception.

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DBN in its bid to wipe off the multidimensional poverty rates and job losses created by these emergencies, embarked on its statutory obligations of providing funding for MSME’s among many other requirements.

As a body whose aim was to extricate the general populace of the downturn, DBN had embarked on yearly availements both to market women, business men that brought the manufacturing and production sector back to their feet.

The DBN to further consolidate it’s programs revived the microfinance Banks and institutions to enable it deliver it’s mandate to Nigerians in the area of all finances.

The positive development in the last five years had encouraged all sectors from Agriculture, technology and technical support, diverse businesses from small scale to large entities.

The Bank was also involved in direct distribution to individuals or groups year in year out, in line with it’s assessment of locations, business awareness, business proposals among many others.

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With due diligence and process, the Bank embarked on transparent wealth distribution and redistribution to market women , enterpreneurs, build capacity in line with the global best practices.

With concerted efforts laced with transparency and accountability, DBN was able to mitigate the critical conditions of many Nigerian enterpreneurs post COVID, and still indulge in intermittent provision of funds that had reverted many entities with alot of problems during and after COVID, that was gradually finding their feets.

The success story of DBN leadership and it’s management was a product of leadership distinctiveness, reforms and initiatives that had brought relief to MSME’s and it’s operators across the country.

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For the Bank, it had gone beyond the primacy of it’s obligations geared towards giving meaningful livelihood to many Nigerians.

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