Nigeria’s Development Bank Secures $75m Afreximbank Loan to Finance SMEs

The African Export-Import Bank (Afreximbank) has committed a $75 million finance facility to the Development Bank of Nigeria (DBN) to expand access to finance for Nigerian small and medium-sized enterprises (SMEs), including eligible businesses in the creative economy.

DBN will route the loan through its partner financial institutions to fund eligible small businesses, according to a statement on Wednesday. The facility will support working capital, asset acquisition, pre-export, post-export and supply chain activities, with businesses in fashion, film, music, design and the wider creative industries among the intended beneficiaries.

Announced during CANEX WKND 2026 in Lagos, the facility reflects the event’s focus on connecting creative enterprises with finance, investment and markets. Kanayo Awani, Executive Vice President, IntraAfrican Trade and Export Development, Afreximbank, and Tony Okpanachi, Managing Director and Chief Executive Officer, DBN, led the ceremonial signing on behalf of their institutions.

In line with Afreximbank’s Export SME Development programme, the facility will combine financing with capacity-building and export-readiness support for beneficiary SMEs, equipping them with the skills, tools and market knowledge required to strengthen their businesses, become export-ready and access regional and international markets.

Alongside the financing, Afreximbank and DBN will jointly develop a capacity-building programme to strengthen PFIs’ ability to support export-oriented SMEs. Afreximbank will also provide access to its trade platforms, including MANSA, TRADAR, PAPSS and ATEX, and support market access through the Africa Buyer Programme, ATDC and the Intra-African Trade Fair.

“Our partnership with DBN goes beyond providing capital. We are taking an integrated approach that combines finance with capacity building, export-readiness support and access to markets. Our objective is to help Nigerian SMEs build productive capacity, strengthen their competitiveness and make the transition from promising local businesses to sustainable exporters. At the same time, we will work with participating financial institutions to strengthen their capacity to better understand, finance and support SMEs throughout their growth journey,” said Awani.

She said combining finance with this practical support would help businesses prepare for export markets and connect with buyers across Africa and beyond. 

The partnership combines DBN’s wholesale lending network with Afreximbank’s trade finance expertise, capacity building and market access support, strengthening local financial institutions’ ability to serve exportoriented SMEs.

“This partnership with Afreximbank represents another important step in DBN’s commitment to expanding access to finance for Nigerian MSMEs and enabling them to build resilient, competitive and sustainable businesses. The US$75 million facility will provide much-needed financing through our Participating Financial Institutions, while creating greater opportunities for businesses, particularly those in the creative and export-oriented sectors, to strengthen their productive capacity and access new markets,” Okpanachi said.

“Beyond financing, the capacity-building and market-access components of this partnership are particularly important to us. By strengthening the ability of financial institutions to support export-ready businesses and connecting Nigerian enterprises to wider African and international markets, we are helping MSMEs move from local businesses to competitive participants in regional and global value chains,” he added.