19 April 2018, Sweetcrude, Lagos — The European Investment Bank and the African Development Bank have agreed to support the…
Browsing: Development Bank of Nigeria
Osinbajo, whose letter dated May 16, 2017 was conveyed to Speaker Yakubu Dogara in the Vice President’s seal and letterhead but signed with the designation of the Acting President, said the DBN was approved by the last administration but the loan facility was strangely omitted in the 2014/2016 borrowing plan by the National Assembly.
24 May 2017, Sweetcrude, Abuja – The Federal government is in need of $1.28 billion to support the operations of…
He said, “We are calling on the Federal Government to complete the project because it will enhance Small and Medium Enterprises in the state. The SMEs if given the necessary support like power supply will assist to reduce rural-to-urban migration. Many of the youth will prefer to conduct their businesses at their various villages instead of migrating to the urban centres.”
The minister said, “The council enthusiastically approved these facilities which are on long term, meaning that the DBN will be able to lend to our MSMEs over much longer periods and at much lower rates. So the impact on the SMEs will be quite considerable.”
The DBN had convened its Development Partners and incoming management team and Board of Directors for an inaugural strategy retreat, in order to ready itself for immediate operation upon the issuance of its license by the Central Bank of Nigeria (CBN).
Emefiele in his speech explained that in addition to earning very good income from a vibrant domestic biofuel industry, Nigeria could also rely on it to provide her alternative clean fuel, reduce her level of fuel importation, and conserve her foreign exchange.
“The DBN will provide loans to all sectors of the economy, including manufacturing, services and other industries not currently served by the existing development banks, thereby filling an important gap in the provision of finance to Micro, Small and Medium Enterprises.”
President Goodluck Jonathan on Monday formally inaugurated the Development Bank of Nigeria with a capital base of $1.5bn (about N300bn).…
