“We Can No Longer Afford To Postpone Our Economic Transformation” – Tinubu Declares

President Bola Tinubu has reaffirmed his administration’s commitment to driving Nigeria’s economic transformation by fostering a thriving and globally competitive financial sector.

Speaking at the groundbreaking ceremony for First Bank’s 43-story headquarters at Eko Atlantic City in Lagos on Wednesday, Tinubu, represented by Vice President Kashim Shettima, emphasized the crucial role of banks in national development.

He noted that his government is implementing bold and progressive policies to stabilize the fiscal and monetary landscape, ensuring an enabling environment for businesses to flourish.

The President highlighted the administration’s ongoing efforts to create an environment conducive to business growth, noting that financial institutions play a pivotal role in economic development.

“Banks are the engines of economic growth, and we owe it to them to champion a system that guarantees sustainability and global competitiveness. Our expectation is for our banks to excel, to expand beyond our shores, and to earn their place among the world’s most viable and profitable enterprises,” Tinubu stated.

Acknowledging the economic challenges faced upon assuming office, the President reiterated that bold and necessary policy decisions were required to stabilize the nation’s financial landscape.

“We assumed office at a time that demanded bold, progressive thinking, a time that called for difficult but necessary decisions to stabilise our fiscal and monetary landscape. Our policies are inspired by the reality that we can no longer afford to postpone our economic transformation,” he added.

Tinubu commended First Bank for its resilience and innovation over the past 130 years, crediting its adaptability for its continued success.

“From the Bank of British West Africa to Standard Bank of West Africa and, finally, to this 130-year-old success story, First Bank has remained a towering institution, outliving disruptions and redefining banking through the decades,” he said.

The event was attended by prominent figures, including Governors Dapo Abiodun (Ogun) and Lucky Aiyedatiwa (Ondo), Lagos Deputy Governor Dr Obafemi Hamzat, former Senate President Bukola Saraki, and business magnates such as Aliko Dangote, Gilbert and Roland Chagoury, Deji Adeleke, Mohammed Indimi, and Senator Daisy Danjuma.