Business
IWD: DBN Disburses N272b To Women Businesses
The Development Bank of Nigeria (DBN) has disbursed more than N272 billion to over 518,170 women-owned businesses, making up 74 percent of its total beneficiaries.
Managing Director of the bank, Dr. Tony Okpanachi, disclosed this in Abuja recently during an event marking this year’s International Women’s Day (IWD).
Dr. Okpanachi explained that this level of financial support reflects DBN’s strong dedication to empowering female entrepreneurs across different industries.
He stated that the bank’s targeted financing has helped women to grow their businesses in sectors such as fashion, agribusiness, technology, trade, healthcare, and renewable energy. By supporting women in these areas, DBN ensures that they play a significant role in the nation’s economic development.
He also pointed out that providing access to finance alone is not enough to help women entrepreneurs succeed, adding that they also need strategic partnerships, policy support, mentorship, and market access to compete effectively in today’s business environment.
To address these challenges, he said DBN has launched several initiatives, including the Women Entrepreneurs Finance Initiative (WE-FI) Code.
This programme, in collaboration with the Central Bank of Nigeria (CBN) and the Bank of Industry (BOI), aims to expand access to finance, enhance business skills, and create networking opportunities for women entrepreneurs.
On guarantees, a report released on Thursday showed that total loans guaranteed by DBN stand at N43.3 billion.
The report also noted that 16 Participating Financial Institutions (PFIs) have been involved in the loan disbursement process, reaching 45,178 micro, small, and medium enterprises (MSMEs).
Out of the 74,678 MSMEs supported, 60.6 percent were owned by women.
Dr. Okpanachi assured of DBN’s focus on financing women-led businesses, explaining that the bank ensures that a significant portion of its lending goes to women entrepreneurs, as their participation is crucial for economic growth.
He said DBN plans to intensify efforts to empower even more women, helping them expand their businesses and contribute further to national development.
He outlined some of the measures taken to achieve this, starting with dedicated funding lines for women-owned businesses through DBN’s partner financial institutions.
These financial institutions can only access these funds if they are directed toward female entrepreneurs.
Beyond funding, Dr. Okpanachi stressed the importance of capacity building. He explained that moving women from micro-businesses to small enterprises and eventually to medium and large businesses requires training and skills development.
“Over the past four years, DBN has provided specialized training programs for women-owned businesses, and the bank is now planning to expand these efforts to reach more women and support their business growth”, he said.
DBN, he continued, remains committed to the WE-FI Code, in partnership with the CBN and BOI, to ensure that more financing is directed toward women entrepreneurs.
Speaking about the gender-based report, Dr. Okpanachi noted that the report provides a detailed record of DBN’s efforts in gender finance since its inception.
He stated that the report not only highlights the level of investment made in supporting women entrepreneurs but also examines the impact of these investments.
He noted that the focus is not just on giving financial support, but of on measuring how it transforms businesses and contributes to the economy.
Dr. Okpanachi expressed confidence that DBN’s continued efforts in financing and capacity building would create more opportunities for women entrepreneurs, helping them scale their businesses and strengthening their role in Nigeria’s economic development.
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Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
The Nigeria Immigration Service (NIS) has officially ended passport production at multiple centres, transitioning to a single, centralised system for the first time in 62 years.
Minister of Interior, Dr Olubunmi Tunji-Ojo, made the disclosure during an inspection of the Nigeria’s new Centralised Passport Personalisation Centre at the NIS Headquarters in Abuja, last Thursday.
He stated that since the establishment of NIS in 1963, Nigeria had never operated a central passport production centre, until now, marking a major reform milestone.
“The project is 100 per cent ready. Nigeria can now be more productive and efficient in delivering passport services,” Tunji-Ojo said.
He explained that old machines could only produce 250 to 300 passports daily, but the new system had a capacity of 4,500 to 5,000 passports every day.
“With this, NIS can now meet daily demands within just four to five hours of operation,” he added, describing it as a game-changer for passport processing in Nigeria.
“We promised two-week delivery, and we’re now pushing for one week.
“Automation and optimisation are crucial for keeping this promise to Nigerians,” the minister said.
He noted that centralisation, in line with global standards, would improve uniformity and enhance the overall integrity of Nigerian travel documents worldwide.
Tunji-Ojo described the development as a step toward bringing services closer to Nigerians while driving a culture of efficiency and total passport system reform.
According to him, the centralised production system aligns with President Bola Tinubu’s reform agenda, boosting NIS capacity and changing the narrative for improved service delivery.
The National Information Technology Development Agency (NITDA) has announced plans to roll out Digital Public Infrastructure (DPI) and the Nigerian Data Exchange (NGDX) platforms across key sectors of the economy, starting in early 2026.
Director of E-Government and Digital Economy at NITDA, Dr. Salisu Kaka, made the disclosure in Abuja during a stakeholder review session of the DPI and NGDX drafts at the Digital Public Infrastructure Live Event.
The forum, themed “Advancing Nigeria’s Digital Public Infrastructure through Standards, Data Exchange and e-Government Transformation,” brought together regulators, state governments, and private sector stakeholders to harmonise inputs for building inclusive, secure, and interoperable systems for governance and service delivery.
According to Kaka, Nigeria already has several foundational elements in place, including national identity systems and digital payment platforms.
What remains is the establishment of the data exchange framework, which he said would be finalised by the end of 2025.
“Before the end of this year and by next year we will be fully ready with the foundational element, and we start dropping the use cases across sectors,” Kaka explained.
He stressed that the federal government recognises the autonomy of states urging them to align with national standards.
“If the states can model and reflect what happens at the national level, then we can have a 360-degree view of the whole data exchange across the country and drive all-of-government processes,” he added.