DBN deepens access to finance, capacity-building for livestock value-chain development

The Development Bank of Nigeria Plc (DBN) is deepening its intervention in the economy by strengthening the institutional capacity of Participating Financial Institutions (PFIs) and Small and Medium Enterprises (SMEs) to effectively deploy and access suitable financing tools for livestock value-chain development.

The capacity-building programme under the World Bank–funded Livestock Productivity and Resilience Support (LPRES) project is aimed at strengthening the capacity of PFIs to design and refine financial products tailored to bridge the funding gap for SMEs in the nation’s livestock sector.

As a World Bank-supported capacity-building programme, the curriculum for the SME/PFI regional training was developed by the project implementation unit (PIU) of DBN and approved by the World Bank.

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“Capacity-building is pivotal for MSMEs’ growth in Nigeria as it bridges the knowledge and skills gap, empowering entrepreneurs to innovate, compete, and thrive in a rapidly-evolving economy,” Tony Okpanachi, MD/CEO, Development Bank of Nigeria, said.

According to him, the training is aimed at enhancing the financial readiness of SMEs within the livestock sector by equipping them with the right knowledge and tools to access funding to grow and scale their businesses.

He disclosed that the training would be implemented in selected LPRES States across the six geo-political zones of Nigeria, and urged SMEs and PFIs in each of the geo-political zones to participate actively in the training.

The States are Enugu (South-East), Adamawa (North-East), Ondo (South-West/South-South), Kano (North-West), and Kogi (North-Central), respectively.

“Our capacity-building training programme is a catalyst for unlocking the potential of livestock enterprises as key drivers of economic growth, innovation, job creation, and prosperity in Nigeria,’’ Okpanachi said.

Okpanachi added that the capacity-building programme aligns with the Renewed Hope Livestock Development Initiative of the Federal Government under the administration of President Bola Ahmed Tinubu to bolster the potential of the livestock sector for improved food security and job creation.