The Managing Director of First Bank of Nigeria Limited, Mr. Olusegun Alebiosu, has said Nigeria is entering 2026 with improved economic momentum, as ongoing reforms begin to stabilize markets, strengthen investor confidence, and create new growth opportunities.
Alebiosu made the remarks at the Nigeria Economic Outlook 2026, a hybrid forum organized by FirstBank in Lagos. The event was held under the theme “The Great Calibration: Mastering Resilience in an Era of Asynchronous Growth.”
Economic Reforms Driving Recovery
According to Alebiosu, Nigeria’s economic outlook reflects a gradual but steady recalibration driven by policy discipline, financial sector reforms, and renewed activity in productive sectors of the economy.
He noted that despite challenges such as inflationary pressures, currency adjustments, and external shocks, the country has demonstrated resilience through innovation and structural reforms, positioning the economy for sustained recovery.
Role of the Nigeria Economic Outlook Forum
Alebiosu described the annual forum as a strategic platform for shaping ideas, sharing insights, and identifying pathways for inclusive and sustainable growth amid global economic uncertainty.
He reaffirmed FirstBank’s commitment to national development, stating that the institution’s 131-year legacy remains focused 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.
Importance of Public-Private Collaboration
The FirstBank managing director emphasized that effective partnerships between government and the private sector would be critical to unlocking growth opportunities. He added that sessions at the forum would provide practical guidance on managing volatility and identifying sectors capable of driving economic expansion.
Improving Macroeconomic Indicators
Speaking with journalists on the sidelines of the event, Alebiosu said Nigeria is entering a new phase of macroeconomic stability, supported by easing inflation, stronger manufacturing output, and renewed investor confidence.
He also noted that lower interest rates and the ongoing bank recapitalisation exercise are expected to 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.
Advice to Nigerians in the Diaspora
Alebiosu urged Nigerians in the diaspora to reassess the practice of holding savings in foreign currencies, noting that returns on naira-denominated assets are increasingly outperforming foreign currency holdings.
Conclusion
He expressed optimism that sustained reforms, responsible financial practices, and strategic investments would support Nigeria’s economic growth trajectory as the country moves into 2026.
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