DBN empowers 723,000 women businesses with N322bn

The Development Bank of Nigeria (DBN) has revealed that it has so far supported over 723,000 women-led MSMEs with N322 billion , a milestone the bank says underscores the potential of Nigeria’s young entrepreneurs to transform the economy.

Speaking at the launch of the DBN Innovation Hub in Kaduna on Thursday, the bank’s Chief Economist, Prof. Joseph Nnanna, said the hub is designed to accelerate that transformation by giving young innovators the tools and platforms to scale their ideas.

“Each of these enterprises tells a story of courage, innovation, and the power of access to finance,” he said, emphasising that youth-led ventures constitute the engine of Nigeria’s emerging innovation economy.

The Kaduna facility, the first of six regional innovation hubs DBN plans to establish nationwide, will serve as a springboard for early-stage ventures, especially those led by youth in the North-West.

“It will deliver structured incubation, technical assistance, investment-readiness programmes, and direct connections to venture capital, with DBN positioned as an anchor limited partner to attract private investors,” he said

Nnanna described innovation as the key to inclusive growth, noting that global economic shifts demand a new kind of entrepreneurial support in Nigeria.

“Innovation is the next frontier of inclusive growth and Nigeria cannot afford to be left behind,” he said.

While the youth funding figures were a major highlight, the Chief Economist also pointed to DBN’s broader impact.

He said the bank “has supported over 723,000 women-led MSMEs with N322 billion, funded more than 106,000 startup enterprises with N119 billion, 260,000 youth-led Micro, Small and Medium Enterprises (MSMEs) with about N151 billion and trained over 50,000 MSMEs via online and physical channels.”

He reiterated that youth remains a strategic priority moving forward. “Our young, digital, creative, and resilient people are brimming with ideas that can solve real challenges if given the right platform,” he noted.

Executive Director, Kaduna Enterprise Development Agency, Barrister Abdullahi Makarfi, who represented Governor Uba Sani at the DBN Innovation Hub said the state focused on how MSMEs can try leveraging ICT innovation as well as capacity building.

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