UBA emerges as largest lender to agriculture

United Bank for Africa (UBA) Plc has been awarded as Nigeria’s biggest lender to agriculture. The award was conferred on the bank by the Lagos Chamber of Commerce and Industry (LCCI) at the chamber’s annual commerce and industry awards night.
The LCCI awards night recognises, promotes and celebrates private and public sector institutions operating in Nigeria for best business practices, growth through innovations, business sustainability and positive impact on people and the society. 
UBA was honoured on the for consistently supporting the growth of agriculture in Nigeria. UBA, as far back as 2009, floated the largest private sector funding scheme of N50 billion to support agriculture and agro-processing industries in Nigeria. Since then, UBA has sustained its commitment to the agricultural sector by committing an average of 7 per cent of its loan to agricultural financing, well above the banking industry average of 4 per cent.
Commenting on awards Phillips Oduoza Group, the Managing Director of UBA Plc, thanked LCCI for the recognition, assuring that UBA will continue to support the agricultural sector.
He said: “Agriculture is key to diversifying the Nigerian economy from  dependence on oil …We will continue to support and lend to the sector not only in Nigeria but across Africa.”