United Bank for Africa (UBA) has successfully secured a ₦5 billion loan facility from the Bank of Industry (BOI), aimed at supporting critical sectors of the Nigerian economy and fostering sustainable growth. This financial partnership highlights both institutions’ commitment to accelerating economic development and empowering businesses across the country.
The loan from BOI will enable UBA to enhance its lending capacity, focusing on industries that are vital to Nigeria’s industrialization and job creation efforts. Priority sectors include manufacturing, agriculture, infrastructure, and technology, which are essential for driving economic diversification and resilience.
UBA’s managing executives emphasized that this collaboration represents a strategic approach to channeling financial resources efficiently to areas with high-growth potential. The increased loan facility will also support small and medium-sized enterprises (SMEs), which play a pivotal role in Nigeria’s economic landscape.
By leveraging BOI’s funding and UBA’s extensive banking network, the partnership aims to deliver impactful financing solutions that stimulate productivity and innovation. This initiative aligns with the broader national agenda of securing sustainable development and reducing unemployment.
The agreement underscores the importance of cooperative efforts between financial institutions and development banks in addressing economic challenges and unlocking Nigeria’s full economic potential.
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