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The Development Bank of Nigeria (DBN) emphasizes the importance of digital transformation for Micro, Small, and Medium Enterprises (MSMEs), citing operational efficiency gains for businesses that embrace technological innovations.
DBN Chairman, Shehu Yahaya, commits to supporting MSMEs in adopting digital technologies through financing initiatives and capacity-building programs to unlock Nigeria’s entrepreneurial potential and promote sustainable economic growth.
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Acknowledging the collaborative effort needed for a digital Nigeria, Yahaya emphasizes the role of both public and private sectors. Government-owned institutions are urged to create enabling policies and invest in digital infrastructure, while the private sector, especially technology companies, should develop tailored innovative solutions for Nigerian businesses.
The director-general of the National Information Technology Development Agency (NITDA), Kashifu Abdullahi, stresses the significance of digitalization in driving economic growth and improving the ease of doing business for MSMEs. Abdullahi assures inclusivity in access to digital infrastructure and highlights government efforts in facilitating online business registration and establishing a legal framework to encourage investments in digital public infrastructure.
The Development Bank of Nigeria’s managing director/CEO, Tony Okpanachi, underscores the transformative impact of the Internet on human interaction and commerce. He recognizes Nigeria’s internet penetration challenges and expresses the Development Bank of Nigeria’s commitment to promoting solutions that provide innovative funding for Micro, Small, and Medium Enterprises, driving creativity to enhance the country’s position in the Ease of Doing Business ranking.
Through initiatives like the Annual Lecture Series and the Techpreneur Summit, the Development Bank of Nigeria actively leads discussions on innovation, resilience, and profitability for small businesses in emerging technology.
