The Development Bank of Nigeria (DBN) has awarded N13 million in grants to 10 tech startups through its Entrepreneurship Training Programme, aiming to boost innovation and entrepreneurship in Nigeria’s technology sector. The initiative is part of DBN’s commitment to fostering economic development by supporting Micro, Small and Medium Enterprises (MSMEs), especially those leveraging technology to solve local problems.
The award ceremony, held in Lagos, marked the end of an intensive training programme that equipped over 2,000 entrepreneurs with business management skills, of which 200 were selected for further virtual training. From this pool, 10 startups emerged as top performers and received N1.3 million each in grant funding to scale their businesses.
The DBN Managing Director, Dr. Tony Okpanachi, emphasized the bank’s strategic focus on capacity building and innovation. He highlighted that the Entrepreneurship Training Programme is designed to empower young entrepreneurs with the tools needed to grow sustainable businesses, thereby contributing to national economic growth and job creation. He also noted that technology-driven enterprises are crucial for Nigeria’s economic transformation.
The selected startups span various sectors including fintech, healthtech, agritech, and edtech. Their innovative solutions address challenges such as access to healthcare, financial inclusion, education, and food security. DBN believes that supporting these startups will not only help them grow but also contribute significantly to the broader socio-economic development goals of the country.
The programme was implemented in partnership with development institutions and training providers, who played key roles in mentoring and evaluating the entrepreneurs. Participants praised the training for its practical focus and the opportunity it provided to connect with other entrepreneurs and investors.
By investing in youth-driven innovation and enterprise, DBN aims to create a vibrant startup ecosystem in Nigeria. The N13 million grant fund represents a small but meaningful investment in a future where young innovators are empowered to create lasting solutions to the country’s most pressing challenges.
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