DBN Awards N13m in Grants to Tech Entrepreneurs

Nume Ekeghe

The Development Bank of Nigeria (DBN) has awarded N13 million in grants to three outstanding startups as part of its 2025 Techpreneur Summit in Lagos, to further strengthen its push to foster innovation among Nigerian Micro, Small, and Medium Enterprises (MSMEs).

BuyScrap, a leading digital platform for recyclable materials, received N6 million, Qiqi Farms, which connects local farmers to hospitality and export markets, was awarded N4 million and Eco-Cyclers, a youth-led recycling initiative based in Enugu, earned N3 million for its environmental impact.

Also, the bank in a significant move to drive data-driven policy and impact investing in Nigeria’s micro, small and medium enterprise (MSME) ecosystem, launched a comprehensive digital data asset designed to provide insights into the needs, trends, and growth trajectories of small businesses across the country.

In his opening remarks, DBN Managing Director/CEO, Tony Okpanachi, said the summit’s theme: ‘CTRL+SHIFT: Tech Empowered Movement for Naija’, is more than just a keyboard command, but a strategic call to rethink the future of enterprise development in Nigeria.

He said: “It represents a bold pivot a strategic reset, powered by technology, to reimagine and rebuild the future of business in Nigeria. It is a rallying cry for us to take control, initiate a shift, and chart a new course where technology serves as the backbone of inclusive and sustainable growth.”

Okpanachi reiterated that since its inception in 2017, DBN has maintained a focus on empowering Nigeria’s micro, small, and medium enterprises (MSMEs) through financing, capacity building, and now, innovation.

He said: “This year’s Summit aligns seamlessly with our AMPLIFI strategy. From the digital shift workshops to the Eco-Innovation Challenge, we are embedding sustainability, scalability, and impact into the DNA of Nigerian tech ventures.”

Encouraging the winners and other young innovators in attendance, Okpanachi said: “The future belongs to those who are bold enough to imagine and build it. DBN is proud to provide this platform where your ideas can be seen, supported, and scaled.”

A major highlight of the event was the unveiling of the DBN Data Asset, a digital platform designed to offer real-time insights into the MSME landscape, helping regulators, banks, investors, and development actors make informed decisions based on evidence and impact data.

DBN’s Head of Strategy, Policy and Innovation, Jeremy Dan Okayi, described the platform as “a reservoir of insight, potential, and direction,” adding that it reflects years of collaboration and research.

“This journey, which began two years ago, has been one of dedication, collaboration, and a shared vision: to illuminate the path for Nigerian micro and small enterprises using the power of data,” Okayi said.

According to him, the platform aggregates DBN’s internal data with external sources like the National Bureau of Statistics (NBS) to create a rich portrait of MSME performance and needs across regions and sectors.

 “We are transforming that heartbeat into a symphony one that enables informed policymaking, targeted interventions, and inclusive growth,” he said.

He praised the Development Bank of Nigeria (DBN) for its continued support of innovation and inclusive entrepreneurship. Okayi urged stakeholders across the ecosystem to fundamentally rethink how innovation is financed and scaled in Nigeria, while challenging startup founders to channel their talents toward transformative impact.

According to him, “To the brilliant tech founders who will be pitching their ideas today: this is your moment. The future belongs to those who are bold enough to imagine and build it. Your creativity, your passion, and your courage are exactly what Nigeria needs to move forward. DBN is proud to provide this platform where your ideas can be seen, supported, and scaled.

“Let me close by saying this: Nigeria is teeming with potential. Our youth are not waiting for change; they are creating it, and DBN is committed to amplifying your voices, supporting your dreams, and investing in your future.

“So, let us CTRL + SHIFT, together. Let us take charge. Let us rewrite the narrative. Let us lead the tech-empowered movement for Nigeria.”