DBN Begins Capacity-building Training for Livestock-focused SMEs, PFIs

Emma Okonji

Development Bank of Nigeria Plc (DBN) has commenced a nationwide capacity-building training programme forlivestock-focused Small and Medium Enterprises (SMEs) and DBN Participating Financial Institutions (PFIs) across Nigeria’s six geopolitical zones with the first-in-the-series of training kick-starting in Enugu State State, South-East Nigeria.

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. 

Furthermore, 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. It will also serve as a veritable platform for engagement, dialogue and mutual understanding between the PFIs and livestock enterprises. 

Managing Director/CEO, Development Bank of Nigeria, Dr. Tony Okpanachi, emphasised the importance of this training, stating, “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,’’ urging SMEs and PFIs in each of the geo-political zones to participate actively in the training. 

“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. The LPRES SME/PFI Regional Training will not only strengthen the skills and capacity of SMEs in the livestock sector for business growth and sustainability, the training programme will promote national economic growth through MSME’s development,’’ he affirmed. 

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, as well as repositioning it to contribute to national economic growth.