Tony Okpanachi, the managing director/CEO of the Development Bank of Nigeria Plc (DBN), has disclosed that the long-term vision of the bank is to help accelerate Nigeria’s transition to a sustainable, knowledge-based economy.
He made this known during the recent unveiling of its first regional micro, small and medium enterprises (MSME) Connect & Innovation Hub in Kaduna, which marks the bank’s front-leap in building a thriving innovation-driven ecosystem for Nigeria’s MSME sector.
He reiterated that the initiative further affirmed DBN’s unrelenting commitment to the growth of the country’s MSME sector as a critical contributor to national economic growth through value and job creation, and as the bedrock for innovation and industrialisation.
“This launch is a game-changer for Nigeria’s MSME sector. By providing accessible finance and a platform for innovation, we’re unlocking a new era of inclusive growth – empowering youth, women, and entrepreneurs to shape the future,” he stated.
Okpanachi, who called for partnerships across private sector, investors, development partners, and innovators to achieve the vision of the regional hub, reiterated that DBN will continue to position itself as a strategic institution for driving investors into Nigeria’s innovation space and the economy at large.
Joseph Nnanna, chief economist, DBN, stated that the launch is a testament to DBN’s impact on the MSME sector and the economy, underscoring the role of targeted finance and innovation in driving economic transformation. “Innovation is the next frontier of economic transformation and inclusive growth amid rapidly evolving global economies. The DBN MSME Hubs will turbocharge this progress.”
He stated further that through the establishment of the innovation hubs, not only is DBN an anchor limited partner attracting more private investors into Nigeria’s innovation economy, the hubs would also bolster regional MSME capacity across Nigeria. “We invite innovators, investors, and partners to join us in shaping Nigeria’s knowledge economy.”
According to the bank, the Kaduna hub is the first of six planned nationwide, signaling DBN’s strategic shift from financier to catalyst of MSME growth; while the launch of the initiative marked a renewed effort to strengthen and scale MSMEs across Nigeria.
The Hubs will drive incubation, capital access, and scale-up support for early-stage entrepreneurs. The initiative also aims to empower Nigeria’s future innovators by providing technical assistance, capacity-building workshops, investment-readiness programmes, and linkages to venture capital.
