• News
  • Business
  • Opportunities
  • Articles & Resources
  • Spotlight
  • Views
    • Interviews
    • Opinions
  • MSME Jobs
  • More
    • Africa
    • World
  • webmail
  • Terms of Use
MSME Africa
  • News
  • Business
  • Opportunities
  • Articles & Resources
  • Spotlight
  • Views
    • Interviews
    • Opinions
  • MSME Jobs
  • More
    • Africa
    • World
  • webmail
  • Terms of Use
No Result
View All Result
  • News
  • Business
  • Opportunities
  • Articles & Resources
  • Spotlight
  • Views
    • Interviews
    • Opinions
  • MSME Jobs
  • More
    • Africa
    • World
  • webmail
  • Terms of Use
No Result
View All Result
MSME Africa
No Result
View All Result

Development Bank of Nigeria Highlights N3 Trillion Funding Needs for SMEs

Blessing Joseph by Blessing Joseph
September 19, 2023
in Business, Financial Services, News
0
DBN Empowers 495 MSMEs with N787bn and Boosts Job Creation
Share

The Development Bank of Nigeria (DBN) emphasizes the substantial financing requirements of Nigerian Small and Medium Enterprises (SMEs), estimating it to be nearly N3 trillion.

DBN’s Head of Corporate Services, Idris Salihu, underscores the immense funding demand in this sector, emphasizing that collaboration among key financial institutions is essential to address this gap effectively.

While SMEs form a vital segment of emerging economies, Salihu acknowledges that they face challenges impeding their growth and expansion. Despite accounting for 96% of businesses and 84% of jobs in Nigeria, SMEs encounter hurdles that limit their potential.

Salihu highlights the significance of appropriate business structuring, asserting that it enables SMEs to access various funding opportunities in the market. He emphasizes that without well-defined business strategies, investors may be hesitant to invest.

He emphasizes that no single development finance institution can tackle this funding gap alone, emphasizing the importance of key players in the industry contributing to SME funding.

To overcome accessibility challenges, Salihu advocates for increased awareness among SMEs about the available funding opportunities. He further encourages SMEs to focus on proper business structuring, creating an environment that appeals to commercial banks and ensures long-term business sustainability. 

This collaborative effort and strategic approach are crucial steps towards meeting the significant funding needs of SMEs in Nigeria.

Post Views: 353
Share

Related Posts:

  • Best Cities to live as an Entrepreneur in Nigeria
    Ultimate 2024 Guide to the Top Business Enabling…
  • MSME Africa Unveils Top 50 Remarkable MSME Founders 2023, Awards them $25,000 in Media Credits
    MSME Africa Unveils Top 50 Remarkable MSME Founders…
  • Africa must prepare for the inevitability of a global food crisis - Akinwumi Adesina
    Overcoming Binding Constraints to Competitive…
  • Nigerian Government Agencies that Support Entrepreneurship
    Nigerian Government Agencies that Support…
  • 15+ Bank Initiatives, Programs and Products for Nigerian Entrepreneurs
    15+ Bank Initiatives, Programs and Products for…
  • Call For Applications: Bayer Foundation Women Empowerment Award 2024
    Call For Applications: Bayer Foundation Women…
Tags: Development Bank of Nigeria (DBN)EntrepreneursIdris SalihuMSME AfricaMSME News in Nigeria todayMSMEsSMESMEs
Previous Post

Bill Gates Foundation Awards $50,000 Grants to Nigerian Health Startups for Supply Chain Innovation

Next Post

Call For Applications: 7th African World Heritage Youth Forum 2023

Next Post
Call For Applications: 7th African World Heritage Youth Forum 2023

Call For Applications: 7th African World Heritage Youth Forum 2023

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

No Result
View All Result
Join MSME on Whatsapp
Subscribe To Our Newsletter
Enter your email to receive a weekly round-up of our best posts. Learn more!
icon
By subscribing, you agree with our privacy policy and our terms of service.

Recent Posts

  • World Bank Flags Revenue Shortfalls from Petrol Subsidy Removal, Warns of Budget Risks
  • NYSC Urges Corps Members to Strengthen Skills Through Mentorship and Community Impact
  • TETFund Warns Tertiary Institutions over Low Enrolment, Poor Accountability
  • NASENI Backs ‘Nigeria First Policy’ to Boost Local Industry and Innovation
  • Nigeria to Receive $3 Billion Telecom Infrastructure by June 2025

Recent Comments

  • 10 Reasons Why SMEs Should Invest in Video Marketing - MSME Africa on How to Create Viral Videos for Social Media in 2024
  • link alay4d on 5 Nigerian-based Companies Providing Accelerator Programs for Startups in 2024
  • Damilare Oladeji on Nigerian Government Agencies that Support Entrepreneurship in 2024
  • situs alay4d on 50 Best Tools to Boost Your Productivity as an Entrepreneur in 2024
  • Otabor Osayomore Blessing on Ultimate 2024 Guide to the Top Business Enabling Cities for Startup Founders and Entrepreneurs in Nigeria
  • About us
  • Advertise with us
  • Contact Us
  • Home
  • News
  • Newsletter
  • Submit News
  • Terms of Use

© 2023 MSME Africa - All rights reserved.

No Result
View All Result
  • About us
  • Advertise with us
  • Contact Us
  • Home
  • News
  • Newsletter
  • Submit News
  • Terms of Use

© 2023 MSME Africa - All rights reserved.