The Development Bank of Nigeria Plc (DBN) has launched Nigeria’s first curated MSME Data Asset, a transformative web-based platform designed to strengthen Micro, Small, and Medium Enterprises (MSMEs) and drive economic growth across the country.
The platform centralizes MSME data, providing actionable insights into sector contributions to employment, GDP, and overall business performance, while highlighting funding gaps and measuring progress toward closing them.
“This Data Asset is a game-changer for MSMEs in Nigeria,” said Dr. Tony Okpanachi, Managing Director and CEO of DBN. “By providing a unified system for smart analytics, we are empowering policymakers, financial institutions, and stakeholders with data-driven insights to make informed decisions and accelerate growth in the MSME sector.”
The MSME Data Asset integrates information from the Central Bank of Nigeria (CBN), National Bureau of Statistics (NBS), Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), and DBN’s internal data warehouse. By eliminating data silos, the platform ensures a single source of truth for intelligence on MSMEs.
Dr. Okpanachi emphasized the broader impact of the initiative: “This innovation will enable MSMEs to access funding, expand operations, scale businesses, and deepen market reach, further strengthening their role as key contributors to Nigeria’s GDP.”
Key features of the MSME Data Asset include:
- Data Integration & Centralisation: Automates collection from third-party platforms for a unified repository.
- Enhanced Accessibility & Reporting: Allows stakeholders to query data, generate reports, and visualise insights via interactive dashboards.
- Improved Decision-Making: Business intelligence tools provide actionable insights to guide policies and funding interventions.
- Automated Workflows & Efficiency Gains: Reduces manual processing, enabling analysts to focus on generating meaningful insights.
The platform also ensures regulatory compliance and robust data governance. “A strong governance framework guarantees data integrity, security, and adherence to national and international standards,” Dr. Okpanachi said.
The launch of this data asset marks a major milestone in promoting transparency, accountability, and data-driven decision-making in MSME financing and development initiatives in Nigeria. By consolidating key information, the platform aims to make it easier for banks, investors, and government agencies to identify opportunities, manage risk, and deliver targeted support to small businesses.
The Development Bank of Nigeria Plc (DBN) was established to provide financial solutions and capacity-building services to MSMEs and other priority sectors in the country. Through innovations like the MSME Data Asset, DBN continues to strengthen the infrastructure needed to enable small businesses to thrive, contributing to sustainable economic development.
