Development Bank of Nigeria Plc (DBN) says it created 3,192 jobs in the Micro, Small and Medium Enterprises sector of the economy in 2019.

Managing Director of DBN Tony Okpanachi, disclosed this in his address at the DBN’s first virtual 3rd Annual General Meeting which held recently in Abuja.

According to Okpanachi, “so far, 3,192 jobs have been created leading to an increase of 10% in MSMEs revenue and 6.8% increase in value of their land assets.”

He added “52% of loans disbursed in 2019 were to youths and women owned businesses. This is in our bid to promote economic empowerment and gender equality,”

Okpanachi reiterated that through the bank’s “27 Participating Financial Institutions (PFI), over ₦100 billion was disbursed last year, impacting cumulatively over 100,000 MSMEs.”

While giving a scorecard on the bank’s activities and contribution to the Nigerian economy, he said the bank working through its Participating Financial Institutions (PFIs) has facilitated increase in MSME revenue, as well as assets.