Nigeria's Development Bank Kicks Off Capacity Training for Livestock SMEs

News in brief:

-DBN has begun regional training for livestock SMEs and participating financial institutions across Nigeria’s six geopolitical zones.

-The programme aims to improve access to tailored finance and support livestock sector growth, jobs and food security.

Development Bank of Nigeria (DBN) has commenced a nationwide capacity-building programme targeting Small and Medium Enterprises (SMEs) in the livestock sector, as well as participating financial institutions.

According to the bank, the first phase of the training will begin in Enugu State (South-East), marking the rollout of a regional initiative designed to strengthen financing for livestock businesses.

The training is being implemented under the World Bank-funded Livestock Productivity and Resilience Support (L-PRES) project. It focuses on improving the ability of participating financial institutions to design and refine financial products suited to the specific needs of livestock SMEs.

DBN said the programme will help bridge long-standing funding gaps in the sector by enhancing the financial readiness of SMEs and equipping them with the knowledge and tools required to access capital for growth and expansion.

The initiative is also expected to create a structured platform for engagement and dialogue between financial institutions and livestock enterprises, improving mutual understanding of sector risks and opportunities.

Role of Livestock SMEs in Economic Growth

Commenting on the programme, the Managing Director and Chief Executive Officer of the Development Bank of Nigeria, Tony Okpanachi, said the training would unlock the economic potential of livestock enterprises.

He described the initiative as a catalyst for driving innovation, job creation and prosperity, urging SMEs and financial institutions across all geopolitical zones to participate actively.

Okpanachi said capacity-building remains critical for the growth of micro, small and medium enterprises in Nigeria, as it helps close knowledge and skills gaps while enabling businesses to compete in a rapidly evolving economy.

He further pointed out that the capacity-building programme aligns with the Federal Government’s Renewed Hope Livestock Development Initiative under President Bola Tinubu’s administration.

According to the bank, the initiative is designed to strengthen food security, expand employment opportunities and reposition the livestock sector as a significant contributor to national economic growth.

The training is expected to improve business sustainability within the livestock value chain while supporting broader MSME development objectives.

Regional Rollout Spans Six Geopolitical Zones

The regional training sessions will be implemented in selected LPRES states to ensure national coverage and equitable representation. States scheduled to host the training include Enugu (South-East), Adamawa (North-East), Ondo (South-West and South-South), Kano (North-West), and Kogi (North-Central).

The financial institution stated that it will draw participants from livestock SMEs, participating financial institutions, the Federal Ministry of Livestock Development, LPRES national and state coordinating offices, and implementation partners.

The bank estimates that at least 200 financial institutions, 300 SMEs and representatives from government agencies and the bank will benefit from the programme nationwide.