The United Bank for Africa (UBA) Plc has partnered with the Bank of Industry (BoI) to roll out a fresh ₦5 billion loan facility aimed at energising Nigeria’s micro, small and medium enterprises (MSMEs), with women-owned businesses topping the priority list.
The scheme, which offers up to ₦5 million per business at a competitive 9% interest rate, is expected to ease long-standing financing hurdles faced by small businesses in critical sectors such as Green Energy, Education, Healthcare, and Women-led enterprises.
UBA’s Group Managing Director/CEO, Oliver Alawuba, said the move reflects the bank’s drive to empower women and catalyse economic transformation. “MSMEs are the lifewire of any developing economy, and women are at the centre of this growth. By offering accessible loans with a three-month repayment moratorium, we are helping businesses stabilise and expand,” he noted.
The facility, disbursed under the Federal Government’s MSME Fund, comes with a three-year tenor, giving entrepreneurs the breathing space needed to scale operations.
Shamsideen Fashola, UBA’s Group Head of Retail and Digital Banking, emphasised that the intervention was not just about funding but about reshaping Nigeria’s economic landscape. “We are deliberately targeting sectors that create jobs, drive sustainability, and promote financial inclusion,” he said.
Marketing and Corporate Communications Chief, Alero Ladipo, encouraged women entrepreneurs and other operators in the priority sectors to seize the opportunity. “This is about breaking barriers and unlocking growth. We are calling on business owners, especially women, to take advantage of this affordable and accessible facility,” she added.
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