The Development Bank of Nigeria (DBN) on Thursday spotlighted the growing economic power of Nigerian women, announcing that it has funded over 723,000 women-led Micro, Small and Medium Enterprises (MSMEs) with a total of N322 billion, making women one of the biggest beneficiaries of its nationwide development drive.
This milestone was revealed by DBN’s Chief Economist, Prof. Joseph Nnanna, at the launch of the bank’s new Innovation Hub in Kaduna, where he said women entrepreneurs are proving to be central to Nigeria’s quest for inclusive economic growth.
“Behind each women-led business we support is a story of resilience, leadership and innovation,” Nnanna said. “Women are not just participating in the economy—they are shaping its future.”
DBN’s financing record shows that women-owned enterprises continue to excel across sectors, with many demonstrating strong growth, job creation and community impact. Alongside financing, the bank has trained over 50,000 MSMEs, many of them women seeking to strengthen their digital, managerial and market-readiness skills.
Nnanna noted that the bank’s commitment to supporting women is backed by evidence, as women-led MSMEs often show strong repayment performance, higher reinvestment rates and broader socio-economic impact.
At the event, DBN also launched the Kaduna Innovation Hub—the first of six regional hubs it plans nationwide—an initiative expected to further expand opportunities for women innovators and early-stage founders in the North-West.
The hub will offer structured incubation, technical assistance, investment-readiness programmes and direct links to venture capital, giving women access to networks and financing that typically remain out of reach.
DBN also announced that it has funded 260,000 youth-led MSMEs with N151 billion, while more than 106,000 startup enterprises have received N119 billion.
Still, Nnanna stressed that women will remain a core priority as DBN expands its innovation agenda through its new hub model developed with leading innovation partners.
Representing Governor Uba Sani, the Executive Director of the Kaduna Enterprise Development Agency (KADEDA), Barr. Abdullahi Makarfi, reaffirmed the state government’s readiness to support and partner with the DBN to ensure that individual-owned MSMEs benefit from ongoing innovation and ICT investments.
He noted that Kaduna was the first state to domesticate the tech start-up law, backed with a ₦250 million fund designed to support MSMEs including women innovators operating within the state’s innovation ecosystem.
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