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Success story of DBN amidst second wave of COVID-19 pandemic

Abubakar Yusuf

Development Bank of Nigeria (DBN) is statutorily charged with providing access through funding to enterpreneurs,small scale and medium term businesses, through the MSME’s and SME’s to ameliorate the teething problems arising from access by this group of economic players and actors.

In its quest to bequaeth a well thought economic activities, the new Development Bank carried out due dilligence both on the players and their activities,so as to ensure it’s aims and objectives are not overridden by other circumstances.

In doing this, concerted efforts by the Management under the leadership of the Managing Director, Mr Tony Okpanachi are been put in place to ensure adequate awareness, trainings,seminars, workshops and talkshops to the beneficiary of MSME’s fund in line with the lay down procedures.

This awareness programs is strategically organised in all the geo- political zones in the country, to further educate and equip beneficiaries with capacity building initiatves to be able to inculcate and present a workable business plan and execution, particularly at this period of global health emergency of COVID-19 in the second wave.

Undaunted by the emerging second wave of COVID-19 pandemic compounded by the current economic recession, there is no doubt that DBN was already on top of the situation by creating an enabling environment for soft landing for actors and players in the economic emancipation of Nigeria.

It’s decisions to embark on further trainings and retrainings for the 2020 beneficiaries both in Lagos and Abuja, at the same time empowering them to compete favourablly with the fragile economic situation not only in Nigeia, but across the globe,was an indication of the success story of the organisation,amidst the threat of second wave of COVID-19.

As a yearly routine in the normal situation in the last two years, DBN Management unperturbed by the current health upsurge increased beneficiaries from the previous year in 2019 from 100 to 125 in 2020, an indication that the body had provided a shock absorber to many Nigerians, who are daily looking up to the agency to provide financial strength and relief to small scale businesses through MSME’s.

In its due dilligence,the disbursement was consumated to the 125 beneficiaries covering both the South and the Northern parts of the country, not only to invigorate their merchandise, but re-invigorate it to mitigate the prevailing emergencies.

According DBN handlers,it’s intention to provide liquidity, credit guarantee and adequate funding will be defeated without the capacity building as wherewithal to accommodate any eventual obstruction, towards the success of small scale businesses that drives the economy.

Since business plans, developement and implementation is a corrolary to guarantee a robust economy, the need to inculcate this significant part in the course of carrying out plans to empower MSME’s players can not be overlooked.

This positive developement has prepared SME into a formidable avenue to re-awaken thr global economic recession, as well as tackle the second wave of COVID-19 and any other emergencies.

This is also coming at a time when DBN had designed a well thought out and robust Corporate Social Responsibility CSR programs to mitigate retinue of many unforseen incidences, bedeviling many Nigerians.

The most interesting part of DBN CSR program is coming at a time when many corporate, government agencies, departments had dropped the laudable ideas of intervening in the welfare of the general public through the CSR.

Digressing outside the mandate of the Bank meant to provide finances to MSME’s and addressing the plight of the vulnerable in critical situations in Adamawa, Nassarawa, and Cross River,showed that aside the genuine mandate,it also also encourage humanitatian gesture in all its ramifications by giving back to the society.

This gesture apart from fulfilling the aspect of Corporate Social Responsibility (CSR), it also gave the beneficiaries a sense of belonging and responsibility.

The multi million naira succour will also go along way to assist the Federal Government in it’s desire to provide such laudable interventions in form of palliatives to the populace at this critical period of COVID-19 in it’s second wave.

This is in view of efforts of the Management of DBN to carry out diligently both it’s statutory and non- statutory responsibility to ameliorate the sufferings of average Nigerians through funding and CSR.

Abubakar Yusuf writes from Abuja

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A prolific writer of about two decades standing experience
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