DBN 5th annual lecture to focus on economic growth for MSMEs

The 5th edition of the Development Bank of Nigeria (DBN) annual lecture series is to focus more on tackling business and economic growth challenges for micro, small and medium enterprises (MSMEs), as they continue to readjust their operations in response to the current macroeconomic challenges.

“Access to affordable financing is a major hurdle for MSMEs as traditional loan options are often out of reach due to stringent obstacles,” Tony Okpanachi, managing director/CEO, DBN, said in a statement, disclosing that the annual lecture series is also one of the initiatives being deployed by the bank to support the current administration’s efforts.

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According to him, the lecture that is scheduled for Wednesday September 25, 2024, in Abuja, with the theme ‘Empowering Nigerian MSMEs in a Challenging Global Landscape’, will reaffirm the bank’s unwavering commitment to the needs and challenges of Nigeria’s MSMEs.

He said further that although MSMEs are the backbone of the Nigerian economy and major contributors to job creation and economic growth, local, regional and global challenges pose significant threats to their survival and prosperity.

According to him, MSMEs access to affordable finance is further exacerbated by disruptions in the global supply chain, which is causing delays and price fluctuations in raw materials and finished goods, impacting MSMEs’ production and profitability.

He said the lecture would serve as a veritable platform for experts, leaders of businesses from across industries and sectors, as well as stakeholders to discuss the myriads of challenges faced by the MSMEs to channel a way forward.

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“This year’s lecture series, like others before, promises to be very engaging and rewarding to all stakeholders. Consequently, I am extending our warm invitation to all stakeholders in government, development partners, the private sector and the MSMEs to be part of the event,” he said.