The Development Bank of Nigeria (DBN) has announced the earmarking of $2.5 million for the establishment of the Youth Entrepreneurship Investment Bank, a bold initiative aimed at supporting youth-owned enterprises in Nigeria.
Speaking at a media briefing following the bank’s 8th Annual General Meeting held in Abuja on Wednesday, DBN Managing Director, Tony Okpanachi, disclosed that the initiative is a joint effort between DBN, the African Development Bank (AfDB), and the Nigeria Sovereign Investment Authority (NSIA).
Okpanachi emphasized that the new entity will function as an investment vehicle, not a traditional commercial bank. “It will provide access to equity investments for youth-owned businesses and catalyze more capital from global institutions to scale youth entrepreneurship in Nigeria,” he explained.
The NSIA is expected to take the equity lead as co-promoter alongside DBN, with future plans to engage other international stakeholders interested in youth empowerment and impact investment.
“This is a platform for strategic investment in youth. It’s about building an ecosystem that encourages young entrepreneurs by giving them not just capital, but also credibility,” Okpanachi said.
In a financial update, DBN reported a major achievement in 2024: total disbursements to Participating Financial Institutions (PFIs) reached N1.06 trillion—a 35% increase from its 2023 cumulative figures.
