Yemisi Izuora
The Managing Director of First Bank of Nigeria Ltd., Mr Olusegun Alebiosu, has forecast broader economic recovery driven by fiscal stimulus and measures influenced by the Government.
Alebiosu, predicted that Nigeria is entering 2026 with stronger economic momentum as reforms begin to stabilise markets, lift investor confidence and unlock new growth opportunities.
Alebiosu spoke on Tuesday at the Nigeria Economic Outlook 2026, a hybrid forum organised by FirstBank in Lagos.
The theme of the event is “The Great Calibration: Mastering Resilience in an Era of Asynchronous Growth”.
He said the outlook reflected a gradual but clear economic recalibration, driven by policy discipline, financial sector reforms and renewed momentum in productive sectors.
According to him, in spite of inflationary pressures, currency realignments and external shocks, Nigeria had demonstrated resilience through innovation and structural reforms.
This, he added, had positioned the economy for sustained recovery.
Alebiosu said the annual forum had evolved into a strategic platform for shaping ideas, sharing insights and identifying pathways for inclusive and sustainable growth amid global uncertainty.
He reaffirmed the bank’s commitment, noting that the institution’s 131-year legacy remained anchored on supporting national development through 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 effective partnerships between government and the private sector would be critical to unlocking growth opportunities, while the forum’s sessions would offer practical guidance on managing volatility and identifying growth-driving sectors.
Speaking with newsmen on the sidelines of the event, Alebiosu said Nigeria was entering a new phase of macroeconomic stability.
The managing director said this is supported by easing inflation, stronger 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 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 also cited rising industrial activity and the decentralisation of power generation as key catalysts for real-sector growth, adding that falling food and fuel prices indicated easing market distortions.
According to him, stronger external reserves and rising foreign inflows have improved 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