• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Friday, June 6, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Economy/Technology

Bank pledges to support MSMEs

MSMEs

The Matters Press by The Matters Press
June 30, 2022
Reading Time: 2 mins read
0
Nigeria disburses N56bn to MSMEs

The Development Bank of Nigeria (DBN), has pledged to continue addressing financial challenges of the Micro, Small and Medium Enterprises (MSMEs) to transform them into instrument of positive development.

RELATED POSTS

Nigeria’s 3MTT gets boost as EU, World Bank back initiative

PDP incubated insecurity in Nigeria, but Tinubu on top of the situation – TDF

FCT ground rent!: Check your name if you own property

The Managing Director of the bank, Dr Tony Okpanachi, stated this at the regional Development Bank of Nigeria (DBN) MSMEs Summit in Kano on Thursday.

The theme of the 2022 Summit is: “the Role of Development Banks in Inclusive Financing”.

He said that the theme would give them opportunity to interact with SMEs in the region with a view to addressing them.

“DBN will continued to work toward building capacity of MSMEs, eliminating their financial constraints and transform them into instrument of positive and sustainable development,” he said.

He revealed that MSMEs in Nigeria play crucial role in economic growth of poverty reduction, job creation, as well as, wealth creation, among others .

Okpanachi said that DBN organized the summit as a stakeholders engagement strategy to create awareness among the MSMEs sector.

“According to the Nigeria Bureau of Statistics, SMEs in Nigeria have contributed about 48 per cent of the national Gross Domestic Product (GDP) in the last five years.

“With a total number of about 17.4 million, they account for about 50 per cent of industrial jobs and nearly 90 per cent of the manufacturing sector,” he said

“MSMEs plays role in several sectors including agriculture, transport and logistics, tourism and hospitality, textile, leather and solid minerals, among others,” he said.

In his keynote address, Alhaji Tajudeen Dantata, the Chairman of Dantata Foods, said that the MSMEs in Nigeria facing some challenges.

He listed the challenges to include lack of access to credit facilities, inconsistencies of government policies, limited infrastructure, lack of land, unavailability of local raw materials, among others.

Dantata stressed the need to address those constraints for the development of the sector and the economy in general.

Also speaking, Gov Abdullahi Ganduje of Kano state, who was represented by the state Head of Service, Alhaji Usman Bala, said that the state government continue to provide enabling environment for the MSMEs to thrive.

He said that was because MSMEs were critical to ex growth, poverty reduction and jobs creation.

Tags: MSMEs
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

World Bank predicts 4% global economic growth, 1.1% for Nigeria in 2021
Economy/Technology

Nigeria’s 3MTT gets boost as EU, World Bank back initiative

June 6, 2025
Energy

PDP incubated insecurity in Nigeria, but Tinubu on top of the situation – TDF

June 4, 2025
Property owners besiege FCT office to pay ground rent
Economy/Technology

FCT ground rent!: Check your name if you own property

June 3, 2025
News

Cracking the Code with Africa’s Creators: Woof Studios Makes History at Cannes Lions 2025 CANNES,

June 3, 2025
Economic implications of Niger coup to Nigeria, ECOWAS
Economy/Technology

IMPI urges media to consider national interest in reporting security challenges

June 3, 2025
Tinubu steering Nigeria away from Venezuela-like tragedy – IMPI
News

Malami’s opposition to Tinubu’s endorsement self-indicting – TDF

June 3, 2025
Next Post
Trading in Nigerian stock market dips further N83bn

Stock market gains N8.15bn in bullish trading

Global trade’ll grow to $30tn by 2030

Buhari wants boost in Nigeria-Portugal trade

Recommended Stories

Free public transportation for retirees begins in Lagos

PFAs pay N1.63trn lump sum to 442,000 retirees

December 9, 2023
Tesla opens first store in China’s Inner Mongolia

Tesla opens first store in China’s Inner Mongolia

June 9, 2022
Swiss Bank expects profit of $50bn

Pay accruals from fuel subsidy into Federation Account – Commissioners

June 9, 2023

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • Nigeria’s 3MTT gets boost as EU, World Bank back initiative
  • PDP incubated insecurity in Nigeria, but Tinubu on top of the situation – TDF
  • FCT ground rent!: Check your name if you own property

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us