BUSINESS
DBN Lecture Series: Stakeholders, Experts Advocate Digitalization of MSMEs
By Tony Obiechina, Abuja
The Development Bank of Nigeria Plc (DBN) played host to entrepreneurs, business owners, deposit money banks, microfinance banks, development finance institutions, cooperatives, small corporate organizations, and other critical stakeholders in the Nigerian Business Community at the fourth edition of its Annual Lecture Series.
At the well-attended event by an array of small business owners and beneficiaries of DBN credit schemes from across varying sectors of the economy, speakers asserted that MSMEs were pivotal for national economic growth, job creation and by leveraging technology within their operations, companies can improve their efficiency, which is one of the roadblocks to doing business in Nigeria
The experts and stakeholders advocated for increased digitalization and technological innovation to optimize the business operations of Micro, Small and Medium Enterprises (MSMEs) in Nigeria.
Speaking on the theme of the lecture “Digital Nigeria – Leveraging Technology to Improve Ease of Doing Business for MSMEs,” the keynote speaker, Mallam Kashifu Abdullahi who is the Director-General of the National Information Technology Development Agency (NITDA), emphasized the importance of digitalization in driving sustainable economic growth in enhancing the ease of doing business for MSMEs.
He highlighted the significance of MSMEs in Nigeria, constituting about 96% of all businesses, contributing 49% to the national Gross Domestic Product (GDP), and employing 84% of the country’s workforce, while assuring of government’s efforts in providing an easy online business registration process, contrasting it with the previous requirement for individuals to travel to Abuja for the same purpose.
“MSMEs that have embraced digitalization and technology tend to fare better, and that underscores a study done in Turkey which shows that 41.2% of 131 SMEs underwent technological innovations, and this led to an operational efficiency of 96.9%.
“As a government, we have the responsibility to carry everyone along, especially when it comes to inclusivity or access to digital infrastructure, it is no longer a privilege but a necessity”. He stated.
According to him, “We are rounding off with a legal framework that will make it easier for investors to come and invest in digital public infrastructure because this will make it a lot easier for SMEs as well as aid the automation of governance”.
Affirming the standpoint of NITDA’s DG, Nigeria’s Vice President, Senator Kassim Shettima reiterated the commitment of President Bola Tinubu’s led administration in creating an enabling environment for businesses to thrive while stressing several initiatives launched by this current government to support small businesses and entrepreneurs.
Represented by the special adviser to the President on Economic Matters, Tope Fasua, the Vice President noted that “already, policies such as streamlining the process of registering businesses, reducing taxes and other regulatory burdens, improving infrastructure and providing access to finance have been implemented to improve the ease of doing business in Nigeria.
“Also, the Youth Entrepreneurship and Innovation Program (YEI), the Government Enterprise and Empowerment Program (GEEP), and most recently, the 3MTT program, which is a critical part of the Renewed Hope Agenda, will help build Nigeria’s technical talent backbone to power its digital economy and position Nigeria as a net talent exporter. These initiatives will go a long way to boost MSMEs’ capacity while creating jobs and opportunities for all Nigerians.” He affirmed.
Shettima further lauded DBN’s achievements in building a more diversified and resilient economy, by supporting MSMEs to access finance through the promotion of financial inclusion in the past six years.
“The bank has developed several innovative financial products and services that are tailored to the needs of underserved communities. This has helped to bring more Nigerians into the formal financial system. These achievements align perfectly with His Excellency, President Bola Ahmed Tinubu’s 8 priority areas of ending poverty, achieving food security, economic growth and job creation, access to capital across all segments of society and the economy, inclusivity, security, fairness and rule of law, and anti-corruption, all of which are tied very closely to the activities of MSMEs.” He stated.
On his part, the Managing Director/Chief Executive Officer of DBN, Dr Tony Okpanachi acknowledged the transformative impact of the internet on human interaction and commerce. While recognizing the challenges of security and poor infrastructure in Nigeria, he stressed the need for technology and a digitized business environment to overcome these obstacles.
He highlighted the crucial role of MSMEs in Nigeria’s economic growth, emphasizing their contribution to poverty reduction, employment creation, and shared wealth. He maintained that leveraging technology within MSME operations could enhance efficiencies, addressing one of the key obstacles to doing business in Nigeria.
“DBN, as a key advocate for MSME financing and a driver of sustainable development, recognizes the vital role of technology in Nigeria and thus will continue to promote solutions that unlock innovative funding for MSMEs, in a way that finances a sustainable future. Similarly, the Bank will continue to drive creativity that focuses on improving our position on the Ease of Doing Business (EODB) ranking”.
“I must state here that at DBN we specifically understand the potential of the IT sector to transform the Nigerian economy, and since 2021, we’ve hosted the annual Techpreneur Summit as a platform to facilitate technopreneurship, enhance their ability to access debt finance and sensitize them on the various types of debt funding available. Through the Techpreneur Summit, DBN continues to provide leadership on efficient fund utilization, business process optimization, product-market fit, mentoring, and ultimately, profitability,” he posited.
Okpanachi affirmed that the DBN’s Annual Lecture Series is a platform that advocates for MSME financing in Nigeria, leading the conversation on how technology can drive innovation, resilience, and profitability for MSMEs.
“As a key advocate for MSME financing in Nigeria, DBN continues to lead the pack in providing thought leadership on issues relating to sustainable growth for businesses in the context of the green economy and other broad initiatives.”
The fourth DBN Annual Lecture which was a hybrid event marked the bank’s 6th anniversary, featuring speakers drawn from various subject matter expertise, comprising the public sector, academia, development economics, financial services, and entrepreneurship. The event also featured keynotes and panel sessions, where facilitators shared their perspectives on driving sustainable business growth with technology that adapts to a green economy.
Agriculture
FG Calls for Stronger Agricultural Value Chains to Boost Food Security
The Federal Government has called for a stronger agricultural value chains, increased agro-industrialisation and improved market access to boost food security in Nigeria.
The Permanent Secretary, Federal Ministry of Agriculture and Food Security, Dr.
Marcus Ogunbiyi, made the call on Monday in Enugu during the Technical Session of the National Council on Agriculture and Food Security.The theme of the event is “Enhancing Agricultural Value Chains, Agro-Industrialization and Market Access for Economic Growth.”
Ogunbiyi, who doubled as the Chairman of the Technical Session, said that the country must move beyond subsistence farming and embrace a commercially driven agricultural system capable of supporting industries, improving farmers’ incomes and expanding export opportunities.
“Our task goes beyond increasing the volume of food produced.
“We must build an agricultural economy that creates wealth, supports industries, generates decent employment, expands exports, improves rural livelihoods and contributes meaningfully to national economic growth,” he said.
The Permanent Secretary identified inadequate storage and processing facilities, limited access to finance, poor logistics and weak links between farmers and processors as major challenges affecting the competitiveness of agricultural products.
He called for increased investment in agro-processing facilities, rural roads, irrigation, electricity, cold-chain infrastructure and modern technologies to reduce post-harvest losses and promote local value addition.
“Agro-industrialisation is central to the transformation we seek to achieve. It provides the bridge between agriculture and industry.
“It also enables agricultural production to serve as a reliable source of raw materials for manufacturing and other productive sectors of the economy.
“The value of this Council will ultimately be determined by the quality of its resolutions and the extent to which those resolutions are implemented,” Ogunbiyi stated.
He also urged state governments to identify priority commodities, establish clear production and processing targets, attract private-sector investment and strengthen partnerships with research institutions and development partners.
In his remarks, the Enugu State Commissioner for Agriculture and Agro-industrialisation, Patrick Uburu, said that the state government was committed to agro-industrialisation to boost farmers’ income, create jobs and generate wealth.
Uburu, who described the technical sessions as a platform for translating policies into practical solutions, urged delegates to prioritise farmers and agribusiness operators in their deliberations.
He emphasised the need for stronger collaboration among state governments, federal agencies and development partners to address food security challenges, noting that recommendations from the meeting should be measurable and implementable.
The commissioner called for practical policies and investments that would improve farmers’ productivity and expand market access for agricultural produce.
Technical Lead Policy Advisory, GIZ ECOWAS & Nigeria, Dr Abiodun Ihebuzor, advocated for stronger partnerships and increased investment in agricultural value chains to reduce post-harvest losses and improve food security in Nigeria.
Ihebuzor noted that previous engagements at the 46th Council in Calabar and the 47th Council in Kaduna had provided opportunities to advance agricultural development.
He expressed optimism that the current meeting would strengthen collaboration among government institutions, development partners and private-sector operators.
According to him, healthy soils, efficient markets and improved storage systems were essential to sustainable food security.
On her part, Geraldine Onu, Deputy Director, Administration and Supply, Enugu State Ministry of Agriculture and Agro-Industrialisation, disclosed that the State Government had intensified efforts to transform agriculture from subsistence farming to commercial and mechanical farming as part of its economic development agenda.
She noted that investments in irrigation, storage, processing and agricultural infrastructure were aimed at increasing production, attracting private investment, reducing post-harvest losses and improving farmers’ livelihoods.
“In Enugu State, under the visionary leadership of Gov. Peter Mbah, agriculture occupies a strategic position in the state’s economic transformation agenda.
“The initiatives include the 300,000-hectare agricultural land bank, the development of Smart Farm Estates across the 17 Local Government Areas, the 260 Farm Estate Programme and the establishment of a tractor assembly plant,” Onu added.(NAN)
Business News
NELFUND Loan Improves Graduate’s GPA to 3.50
A graduate of the University of Maiduguri, Shianya Ebwaseh, said the Nigerian Education Loan Fund (NELFUND) helped improve her Grade Point Average (GPA) to 3.50 through financial support that enabled her to concentrate on her studies.
Ebwaseh, who graduated from the Department of Zoology, Faculty of Life Sciences, said this in an interview on Monday in Maiduguri.
She said financial difficulties had previously affected her academic performance, as she struggled to meet her daily needs while pursuing her degree.
The graduate said she resorted to selling fried chips and groundnuts on campus to support herself, sometimes missing lectures because of the time and energy required to run the business.
According to her, the introduction of NELFUND’s student loan scheme relieved her financial burden through tuition support and a monthly N20,000 upkeep allowance.
“Before NELFUND, I struggled with my GPA because of financial challenges. I sometimes missed lectures after spending hours frying and packaging chips for sale.
“But when NELFUND came, I stopped the business and concentrated on my studies. My GPA improved to 3.50, which is Second Class Upper,” she said.
Ebwaseh said the financial support also enabled her to attend lectures regularly, purchase learning materials and prepare adequately for tests and examinations without constant worries about money.
She added that her examination scores improved significantly after she began receiving the support, attributing the change to increased concentration and financial stability.
The graduate, who said she accessed the scheme in her third year, described the application process as simple and encouraged other eligible students to apply.
She also said the programme had helped financially disadvantaged students remain in school, particularly those whose parents could not afford tuition fees and upkeep.
Ebwaseh appealed to the Federal Government to sustain the initiative, emphasising that withdrawing the support could expose many students to financial difficulties and possible dropout.
She said the scheme had given beneficiaries an opportunity to pursue their academic ambitions with fewer financial distractions.(NAN)
Business News
FG Seeks Synergy Among Housing Agencies to Boost Housing Delivery
The Minister of Housing and Urban Development, Dr Muttaqha Darma, has called for synergy among government agencies in the housing sector to improve coordination and accelerate housing delivery.
Darma made the call in Abuja on Monday at the stakeholders’ conference on the proposed National Real Estate Regulatory Authority (NRERA).
The conference, themed “One vision, One Ecosystem, One National Housing and Real Estate Plan”, was organised by the Office of the Speaker, House of Representatives, and the House Committee on Housing and Habitat.
The minister said the lack of coordination among government agencies had affected the effective delivery of houses to Nigerians, noting that institutions in the sector operated independently.
“The players within the industry, all of us, operate in silos.
“Federal Housing Authority (FHA) does not even know what the Federal Mortgage Bank of Nigeria (FMBN) is doing. FMBN does not know what the Ministry of Finance Incorporated (MOFI) is doing,” he said.
According to him, the various institutions must work together towards a common goal rather than operate independently.
“Our target is to build houses for Nigerians. We are wasting our time because if we fail, it is us who fail, not the President,” he said.
The minister expressed support for the establishment of NRERA, saying the proposed authority would address the regulatory gaps in the real estate sector.
He said the ministry had reviewed the proposed legislation and recognised its potential to improve the sector.
Darma also disclosed that abandoned housing projects funded by the Federal Mortgage Bank of Nigeria (FMBN) across the country were worth about N38 billion.
He said a survey conducted by the ministry revealed abandoned FMBN-funded housing developments in every state of the federation, including the Federal Capital Territory.
“We realised about N38 billion of contributors’ money, your own money, all the Nigerian workers’ money. N38 billion is wasted,” he said.
He said that the poor management of workers’ contributions could discourage Nigerians from contributing to the National Housing Fund.
The minister urged the committee handling the proposed legislation to ensure that state governments were included in the regulatory framework.
He also called for safeguards to protect homebuyers, tenants, developers and mortgage lenders, including mandatory escrow accounts for buyers and standardised tenancy agreements.
The Managing Director and Chief Executive Officer of the Ministry of Finance Incorporated (MOFI), Dr Armstrong Takang, said effective regulation was necessary to restore investor confidence in Nigeria’s real estate sector.
Takang said the sector contributed 12.71 per cent to Nigeria’s Gross Domestic Product (GDP) as of June 2026, but remained largely unregulated.
He said the absence of a national licensing system had allowed unqualified individuals to operate as estate agents and developers without adequate accountability.
“Anyone can sell land, anyone can collect off-plan payments, run into tens of billions and get away with it. There are very few countries in the world where these are allowed,” he said.
He called for mandatory licensing of real estate operators and the protection of buyers’ funds through designated project accounts.
“An operator must be licensed with the authorities. No one should be operating in the real estate sector without a licence, no matter which part of the value chain they are involved in,” he said.
He added that buyers’ funds should be kept in protected project accounts and released to developers based on evidence of progress on construction.
Takang said effective regulation would attract domestic and foreign investment, protect citizens and support the Federal Government’s one-trillion-dollar economy target.
He urged the National Assembly to ensure the passage of the proposed legislation, describing it as critical to bringing order and transparency to the real estate sector.


