Development Bank Unveils Web-based MSME Data Hub For Market Expansion

The Development Bank of Nigeria Plc (DBN) has taken a large measurement to alteration the micro, small, and mean enterprises (MSMEs) scenery successful the state with the motorboat of country’s archetypal curated Data Asset, a web-based level designed to heighten capableness and thrust maturation successful the MSME sector.

The slope disclosed during the motorboat successful Abuja that the level analyses MSME information to supply insights into their contributions to employment, Gross Domestic Product (GDP), and sectoral maturation portion besides identifying backing gaps and measuring advancement towards bridging them.

DBN’s managing director/chief enforcement officer, Dr Tony Okpanachi, described the inaugural arsenic a “game-changer” for the sector. It would empower policymakers, fiscal institutions, and different stakeholders with the accusation needed to marque data-driven decisions.

According to DBN, the platform’s cardinal features see information integration and centralisation, enhanced accessibility and reporting, improved decision-making, and automated workflows for efficiency. The strategy enables stakeholders to query data, make reports, and visualise cardinal indicators done interactive dashboards portion reducing manual processing time.

Dr Okpanachi said the motorboat underscores DBN’s semipermanent committedness to supporting MSMEs arsenic captious drivers of economical maturation successful Nigeria. He added that the platform’s information governance model ensures compliance with nationalist and planetary standards for integrity, security, and accountability.

“This innovation volition person a lasting interaction connected the MSME sector, enabling businesses to entree funding, standard operations, and deepen marketplace access,” helium said.

Key features of the level see seamless information integration and centralization from divers sources, real-time information querying and reporting tools, and interactive dashboards that vividly visualize cardinal show indicators. This integration importantly reduces manual information processing clip and errors, making decision-making much businesslike and reliable for fiscal institutions and investors seeking to enactment MSMEs.

Beyond enhancing fiscal access, the level besides promotes transparency and accountability done a robust information governance model that complies with nationalist and planetary standards. According to DBN, this ensures information integrity, security, and idiosyncratic privateness portion fostering spot among each ecosystem players.

“The MSME Data Hub is not conscionable a technological innovation — it is simply a strategical instrumentality that volition accelerate the scaling of MSMEs by identifying marketplace opportunities, highlighting backing needs, and tracking advancement implicit time,” Dr Okpanachi emphasised. “Our committedness is to alteration these enterprises to thrive, make much jobs, deepen marketplace penetration, and yet lend to Nigeria’s sustainable economical development.”