DBN launches green finance push to unlock funding for small businesses

The Development Bank of Nigeria (DBN) has launched the Green Declaration, a bold framework designed to drive Nigeria’s transition to a climate-smart economy by mobilising finance for green investments and empowering underserved communities, entrepreneurs, and businesses.

DBN’s managing director, Tony Okpanachi, described the declaration as a “call to action” that encourages financial institutions and development actors to align capital flows with Nigeria’s climate commitments, including the Paris Agreement and the country’s Nationally Determined Contributions (NDCs).

Okpanachi noted that Nigeria’s energy transition has been slowed by a lack of funding, despite the country’s vulnerability to climate change impacts such as floods and droughts. He said the Green Declaration seeks to unlock capital for projects that reduce greenhouse gas emissions, create jobs, support innovation, and promote climate resilience—particularly among rural and underserved populations.

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“Green finance is not just a climate obligation—it is a real economic opportunity,” he said.

The initiative also aims to promote financial inclusion by ensuring women, youth, and small business owners in rural areas have access to funding for clean energy, sustainable agriculture, and other climate-resilient sectors.

Institutions including the Central Bank of Nigeria, Stanbic IBTC, Sterling Bank, the Green Climate Fund (GCF), the African Development Bank, and the World Bank pledged their support by signing a commemorative board at the launch event.

The DBN said it will lead by example through internal reforms and strategic partnerships to expand its green portfolio and attract more capital into the climate finance space. The signed declaration will be displayed at the bank’s headquarters as a public symbol of the collective commitment.

Stakeholders expressed optimism that the Green Declaration will bridge the financing gap for climate-smart innovation and help local businesses tap into a fast-growing green economy.