DBN Advocates for More Women Entrepreneurs


With Nigeria’s 43.3 per cent unemployment rate, the Development Bank of Nigeria has urged Nigerian women to further sharpen their entrepreneurial skills in order to reduce the rate of unemployment and poverty in the country.

Speaking at the third edition of the ‘Women in Leadership and Career Empowerment Programme (WILCEP) Africa, the Managing Director of Development Bank of Nigeria (DBN), Mr. Tony Okpanachi, who was represented by the Business Development and Relationship Manager, Maryesther Ezeadi, emphasised that with Nigeria’s rapid population growth and the current rate of unemployment, over 90 million Nigerians will be unemployed by 2050.

“Nigeria women should see the numerous challenges in the country as opportunities to become entrepreneurs by providing solutions. According to the latest SMEDAN survey, there are 41 million MSMEs in Nigeria.

“If each of these businesses employs four people, it would totally wipe out unemployment in Nigeria. Our population as at the last count was put at 198.5 million by World Bank. So, it is the most simplistic way of showing the power of entrepreneurship in generating employment,” he said.

Women were also advised to persevere during challenging times in business, as the challenges faced in business provide an experience which should serve as a guide to subsequently help sustain the business.

While building their business, women were also counseled to prioritise their health and wellbeing.