The Managing Director of First Bank of Nigeria Ltd., Mr Olusegun Alebiosu, says Nigeria is entering 2026 with stronger economic momentum as ongoing reforms stabilise markets, boost investor confidence and unlock new growth opportunities.
Alebiosu stated this on Tuesday at the Nigeria Economic Outlook 2026, a hybrid forum organised by FirstBank in Lagos.
The forum, themed “The Great Calibration: Mastering Resilience in an Era of Asynchronous Growth,” focused on navigating economic uncertainty while driving sustainable development.
According to Alebiosu, the outlook reflects a gradual but clear economic recalibration driven by policy discipline, financial sector reforms and renewed activity in productive sectors.
He said that despite inflationary pressures, currency realignments and external shocks, Nigeria had shown resilience through innovation and structural reforms, positioning the economy for sustained recovery.
Alebiosu noted that the annual forum had become a strategic platform for shaping ideas, sharing insights and identifying pathways for inclusive and sustainable growth amid global uncertainty.
He reaffirmed FirstBank’s commitment to national development, stressing that the institution’s 131-year legacy remained anchored on strong capital buffers, digital transformation and effective financial intermediation.
“Nigeria’s competitiveness will depend on disciplined reforms, investment in human capital, scalable infrastructure and strong public-private collaboration,” he said.
He added that stronger partnerships between government and the private sector would be critical to unlocking growth opportunities, while the forum’s sessions would provide practical guidance on managing volatility and identifying high-growth sectors.
Speaking with newsmen on the sidelines of the event, Alebiosu said Nigeria was entering a new phase of macroeconomic stability, supported by easing inflation, improved manufacturing output and renewed investor confidence.
He said lower interest rates and the ongoing bank recapitalisation exercise would significantly boost credit expansion in 2026.
“Banks now have more liquidity and the environment is improving. Lending will naturally increase, provided we avoid reckless credit decisions,” he said.
Alebiosu also urged Nigerians in the diaspora to reconsider holding savings in foreign currencies, noting that returns on naira-denominated assets were increasingly outperforming foreign holdings.
“With an appreciating naira, keeping money abroad is a waste of time,” he said.
He identified rising industrial activity and the decentralisation of power generation as key drivers of real-sector growth, adding that declining food and fuel prices signalled easing market distortions.
According to him, stronger external reserves and rising foreign inflows had strengthened Nigeria’s buffers against volatile capital movements.
“If 10 billion dollars in hot money leaves today, we can pay and not blink,” Alebiosu said.
He projected economic growth of between seven and 10 per cent in 2026, including during the election period.
“There will be no crisis. The economy is racing, and after the election you will see accelerated growth far higher than we have ever seen,” he added.Tools