Continuing its mission to enhance the capabilities of Micro, Small and Medium Enterprises (MSMEs) in Nigeria, the Development Bank of Nigeria (DBN) has successfully organized a one-day training session that empowered 1,000 businesses in the North-East and North-West regions of the country.
The MSMEs were located in Gombe, Maiduguri, Adamawa, Katsina, Sokoto, and Kebbi states. The comprehensive training program, which took place in each of these locations, enlisted the expertise of Cjonyx Consulting, which was contracted by the Bank.
According to a statement from DBN, the training focused on enhancing business optimization and development skills, with the aim of strengthening the capabilities of the beneficiary MSMEs for sustainable growth and expansion.
Additionally, the statement highlighted that the primary objective of each one-day training session was to assist business owners in improving their ventures and gaining valuable knowledge on accessing credit from DBN to enhance their efficiency and expand their operations.
Dr. Tony Okpanachi, the Managing Director/CEO of Development Bank of Nigeria, commended Cjonyx Consulting for their valuable expertise and expressed confidence in the significant impact of the training on the participants and their businesses.
He also reaffirmed that the training aligns with the Bank’s unwavering commitment to enhancing the capabilities of MSMEs in the country, enabling them to make even greater contributions to the national Gross Domestic Product (GDP).
“The crucial role of MSMEs as catalysts of socio-economic development cannot be overstated. A substantial percentage of businesses in Nigeria operate in the informal sector, largely composed of MSMEs. The MSME sector is a fundamental pillar of Nigeria’s economic growth, accounting for 97 percent of all businesses, generating six million jobs, and contributing 50 percent to the national GDP.
“Small businesses are creators of value and generate wealth for individuals. At DBN, we are deeply committed to empowering MSMEs to enhance their capacity for growth and expansion, promoting sustainability, and collectively building a stronger economy for the benefit of all Nigerians,” he declared.
he added.
Through its various capacity training initiatives, the Development Bank of Nigeria has significantly enhanced the knowledge and capacity of MSME owners across the country, positioning them for sustainable growth and expansion. One such platform is the annual DBN Entrepreneurship Training Programme (DBNETP), currently in its 5th Cycle, which has already equipped over 2000 MSMEs nationwide with digital and physical training resources, leveraging strategic partnerships and the DBN Learning Management System (LMS).