The Development Bank of Nigeria is intensifying its support for Nigeria’s Micro, Small, and Medium Enterprises by aiming to expand its outstanding loan portfolio to over N1.8 trillion under its new five-year strategic plan.

This was disclosed by DBN Managing Director, Tony Okpanachi, during a media briefing in Lagos.

He added that the bank aims to mobilize N3 trillion in debt and equity to enhance financial access for MSMEs, a vital sector for Nigeria’s economic growth and job creation.

“We want to scale up what we’ve done in the first five years. There’s still a lot to be done in Nigeria, and we are very aspirational in our approach,” Okpanachi said.

The Managing Director highlighted that, in addition to increasing its loan portfolio and funding, DBN’s strategic plan places a strong focus on promoting inclusive growth.

According to him, DBN aims to allocate 20% of its loans to women-led businesses and 40% to enterprises owned by economically disadvantaged Nigerians.

Furthermore, the bank plans to increase its focus on green financing and support businesses in underdeveloped states, aligning its funding priorities with sustainability and regional inclusion objectives.

With this strategic expansion, he stated that DBN plans to generate at least two million jobs, both directly and indirectly, over the next five years.

He added that the bank has already facilitated the creation of 1.2 million jobs in its first five years.

“We want to do at least two million in terms of job creation. That means both direct and indirect job creation.

“Along the profitability side, of course, we want to be financially sustainable. So we’re not taking our eyes off financial sustainability,” he said.

We’re targeting sectors like manufacturing and agriculture—areas that are labour-intensive and hold the potential to absorb large segments of the workforce.”

To achieve its ambitious goals, DBN plans to broaden its funding base by tapping into both local and international sources.

The bank is engaging with international partners and exploring opportunities in domestic capital markets, including a proposed bond program, pending favorable macroeconomic conditions.

Okpanachi clarified that DBN functions as a wholesale development finance institution, providing funds to financial intermediaries instead of lending directly to businesses, which allows it to extend its impact across different sectors.

“Strategically, we’re working on three fronts—expanding our funding sources, deepening current partnerships, and leveraging existing resources to attract new ones,” he said.

It was earlier reported that DBN announced that it has disbursed over N1 trillion to Micro, Small, and Medium Enterprises through 79 participating financial institutions nationwide.

The support has reached more than 69,000 MSMEs, particularly in economically disadvantaged states such as Borno, Yobe, Katsina, Zamfara, and Adamawa.