Development Bank of Nigeria Plc has commenced a nationwide capacity-building training programme for livestock-focused Small and Medium Enterprises and DBN participating financial institutions across Nigeria’s six geopolitical zones.
According to DBN on Wednesday, the first training will commence in Enugu State, South-East Nigeria.
The PUNCH reports that the capacity-building programme under the World Bank–funded Livestock Productivity and Resilience Support 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.
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.
In his comments, the Managing Director/Chief Executive Officer of the Development Bank of Nigeria, Dr Tony Okpanachi, emphasised the importance of the 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 geopolitical 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, but the training programme will also promote national economic growth through MSME development.
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 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.
The training is to be implemented in selected LPRES states across the six geopolitical zones of Nigeria, thereby ensuring equitable national representation. The regional training sessions have been scheduled to take place in the following states, namely: Enugu (South-East), Adamawa (North-East), Ondo (South-West/South-South), Kano (North-West), and Kogi (North-Central), respectively.
Positioned as an empowerment initiative, the DBN-LPRES SME/PFI Regional Training will draw participants from SMEs, PFIs, the Federal Ministry of Livestock Development, the LPRES National Coordinating Office and State Coordinating Offices, and DBN/ICGL across the training locations. It is projected that no less than 200 PFIs, 300 SMEs, Ministry of Livestock representatives and DBN/ICGL staff will be reached through the training sessions.
A major advantage of joining the regional capacity training is that high-performing SMEs may qualify for a World Bank-approved, performance-based grant.
