DBN Targets 2m New Jobs in Ambitious Five-year Expansion Plan

Nume Ekeghe

In a bold move to deepen its developmental impact and drive inclusive economic growth, the Development Bank of Nigeria (DBN), has unveiled a five-year strategic plan that aims to create two million new jobs across the country by supporting Micro, Small, and Medium-sized Enterprises (MSMEs) through expanded financing, capacity building, and technical support.

Speaking during a media parley in Lagos, Managing Director of DBN, Dr. Tony Okpanachi, said the Bank’s renewed strategy, covering 2025 to 2029, will significantly scale its footprint across Nigeria’s underserved business landscape. 

He said: “Moving to the future: last year we began implementing our new five-year strategy which is about scaling up. We asked,  what have we done in the last five years, and how do we scale that. There’s been a lot of progress, but we believe much more is needed in Nigeria. So we are very aspirational in what we aim to do going forward.

“We’ve impacted almost 800,000 MSMEs so far, but in the next five years, we want to reach 2 million MSMEs. We aim to grow our loan book to N1 trillion in outstanding credit and on the guarantee side, we plan to increase our coverage through our subsidiary to over N500 billion. In terms of job creation, we’ve done about 1.2 million in the last five years and now aim for at least 2 million jobs over the next five years direct and indirect.”

A core pillar of the strategy is job creation. According to Okpanachi, the bank’s interventions are designed not only to bridge financing gaps but also to serve as catalysts for employment, enterprise resilience, and national productivity. “Development is not just measured in naira and kobo, but in the number of jobs created, the number of women empowered, and the number of businesses we help to thrive,” he said.

He also added that DBN’s plan also reflects DBN’s focus on inclusive finance. Under the new targets, 40 per cent of all loans will go to women-led MSMEs, 30 per cent will be directed to youth-led enterprises and 15 per cent of disbursements will target businesses in economically disadvantaged regions

This approach builds on the bank’s strong record of inclusive lending. As of 2024, DBN had disbursed over N49 billion to 69,182 MSMEs in conflict-affected and economically challenged states such as Borno, Adamawa, Zamfara, Yobe, and Katsina. Women-owned businesses currently represent 74 per cent of DBN beneficiaries, while youth-led enterprises make up 25 per cent.

Another priority area in the new strategy is green financing, with DBN setting a goal of N75 billion to N100 billion in outstanding loans focused on environmentally sustainable businesses. In addition, the Bank plans to train 500,000 MSMEs over the next five years, significantly expanding its technical assistance and advisory footprint.

APM Terminals Completes Quay Repair Project to Enhance Operational Efficiency

APM Terminals Apapa in collaboration with NPA has successfully completed its quay apron area repair project — a critical infrastructure initiative aimed at improving operational safety, sustainability, and efficiency at Nigeria’s busiest container terminal.

In a statement signed by the Terminal Manager, Steen Knudsen, the project was said to have been delivered within the stipulated timeline through the deployment of appropriate equipment and a dedicated workforce.

Knudsen said, “The quay apron, one of the most operationally sensitive and high-risk zones within the terminal, posed substantial challenges. Executing extensive repairs in this area without disrupting daily terminal operations required precision planning and exceptional coordination. Despite these constraints, the project was completed seamlessly, with zero safety or security incidents—a testament to the professionalism and commitment of all parties involved.

“In total, the project achieved the successful rehabilitation of 970 meters of quay surface, completed through 12,640 man-hours executed safely and efficiently. This achievement reflects the strength of collaboration between APM Terminals Apapa, the Nigerian Ports Authority Engineering team, and all stakeholders who contributed to this vital infrastructure milestone.”

Acknowledging the vigilant supervision of the NPA Engineering Department in achieving significant progress ahead of schedule, Steen extended special recognition to the team.

He said, “In particular, we commend the unwavering leadership and oversight provided by the Managing Director, Nigerian Ports Authority, Dr. Abubakar Dantsoho; Executive Director, Engineering & Technical Services, Engr. Abba Umar; and General Manager, Engineering, Engr. Mukhtar U. Isa, for his tireless on-site inspections and persistent coordination throughout the project.”

Knudsen also recognised Assistant General Manager, Port Engineering, Engr. Sadiq Lamuwa; Project Manager, Engr. E.S. Itodo, and the entire Project Management Team, whose dedication ensured that the highest engineering and safety standards were upheld from start to finish.

One of 60 terminals around the world owned by APM Terminals, APM Terminals Apapa is Nigeria’s largest container terminal.

TotalEnergies Shareholders Okay N13.58bn Dividend, Task Management on Bonus Payout 

Kayode Tokede

Shareholders of TotalEnergies Marketing Nigeria Plc have commended the management‘s  N13.58 billion dividend payout and impressive performance for 2024 financial year, requesting the oil & gas company to consider paying bonus amid its nearly two decades of consistent profit generation.

The shareholders at the company’s at 47th Annual General Meeting (AGM) held in Lagos, approved the board N40 per share dividend for the 2024 financial year, translating to a total payout of N13.58 billion, up 60 per cent from N25.00 declared in 2023.

Speaking at the AGM, the National Coordinator Emeritus and Founder Independent Shareholders Association of Nigeria (ISAN), Sunny Nwosu, acknowledged the impressive 2024 performance, calling on the management to consider rewarding shareholders with bonus.

He said, “We want to find out from this company why, since 2004, they have not paid any bonus to shareholders. You have done everything to make us happy, but you have refused to give us a bonus.”

Chairman, TotalEnergies, Jean-Philippe Torres, responded that the company remains committed to rewarding shareholders, stressing that, “We allocate 50 per cent of the profit before tax to the shareholders, and the rest is to run the company and mainly to maintain profitability and continue to deliver value to shareholders.”

He added that the 2024 dividend payout reflects this balance. He said, “After all that, we have to pay many things. If you calculate the ratio between the dividend paid and the profit before tax, it’s something like 50 per cent.”