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The Managing Director of the Development Bank of Nigeria Plc (DBN), Dr. Tony Okpanachi, along with other regulatory leaders, have emphasized the importance of promoting technology adoption among businesses to address challenges in the current operating environment.
During the fourth edition of the annual lecture series organized by DBN in Abuja, Dr. Okpanachi underscored the pivotal role played by small and medium enterprises (SMEs) in Nigeria’s economic growth. He highlighted their contributions to poverty reduction, employment generation, and the creation of shared wealth.
“As a key advocate for MSME financing and a driver of sustainable development, DBN recognizes the vital role of technology in Nigeria. Thus, we will continue to promote solutions that unlock innovative funding for MSMEs, fostering a sustainable future,” said Dr. Okpanachi.
The event, attended by various stakeholders including entrepreneurs, business owners, deposit money banks, microfinance banks, and development finance institutions, focused on the theme ‘Digital Nigeria – Leveraging Technology to Improve Ease of Doing Business for MSMEs.’ Mallam Kashifu Abdullahi, the Director-General of the National Information Technology Development Agency, served as the keynote speaker, emphasizing the significance of digitalization in driving sustainable economic growth and enhancing the ease of doing business for MSMEs.
Abdullahi highlighted the substantial role played by MSMEs in Nigeria, constituting approximately 96% of all businesses, contributing 49% to the national Gross Domestic Product, and employing 84% of the country’s workforce.
Representing Nigeria’s Vice President, Senator Kassim Shettima, Tope Fasua, the Special Adviser to the President on Economic Matters, reiterated the commitment of President Bola Tinubu’s administration in creating an enabling environment for businesses to thrive.
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