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President Muhammadu Buhari has said the Federal Government will soon establish a new bank, Development Bank of Nigeria.
The President said the setting up such a bank would strengthen the government’s economic diversification programme.
Addressing the German- Nigeria Business Forum in Berlin, President Buhari said the bank, when fully operational, would support small and medium enterprises in the country, by improving their access to financing.
“Our ambitions of creating a diversified and inclusive economy in Nigeria can only be achieved by having a mix of small, medium and large businesses.
“This is why we worked with the German development agency, KFW, in designing the Development Bank of Nigeria which will support the small and medium size enterprises both financially and technically to ensure they take their rightful place in the industrialisation value chain.
“I am pleased to announce that Development Bank of Nigeria will be taking off soon and should be a game changer in our economic diversification plans,” he said.
The President said the setting up such a bank would strengthen the government’s economic diversification programme.
Addressing the German- Nigeria Business Forum in Berlin, President Buhari said the bank, when fully operational, would support small and medium enterprises in the country, by improving their access to financing.
“Our ambitions of creating a diversified and inclusive economy in Nigeria can only be achieved by having a mix of small, medium and large businesses.
“This is why we worked with the German development agency, KFW, in designing the Development Bank of Nigeria which will support the small and medium size enterprises both financially and technically to ensure they take their rightful place in the industrialisation value chain.
“I am pleased to announce that Development Bank of Nigeria will be taking off soon and should be a game changer in our economic diversification plans,” he said.