Okpanachi: Nigeria’s Investment Drive to Create Millions of Decent Jobs
Managing Director of the Development Bank of Nigeria, Tony Okpanachi, says expanding finance for micro, small and medium-sized enterprises could unlock millions of quality jobs. Speaking at the IMF/World Bank
Okpanachi, Managing Director of the Development Bank of Nigeria (DBN), stated at the IMF/World Bank Annual Meetings in Bangkok, Thailand, that expanding finance for micro, small and medium-sized enterprises (MSMEs) could unlock millions of quality jobs. The theme of the Annual Meetings, which emphasized job creation, was particularly relevant for developing countries like Nigeria.
The DBN showcased reforms and changes in Nigeria, sharing its progress with international partners. Since its establishment, the DBN had facilitated about 1.2 million jobs, focusing on quality job creation rather than just quantity. Key constraints to job creation in Nigeria include challenges in the macroeconomic environment, inadequate infrastructure, and the need for an enabling environment for entrepreneurship, technology, and innovation.
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