Alebiosu says easing inflation, reforms, and investor confidence will drive growth of up to 10% this year.
Lagos: The Managing Director of First Bank of Nigeria Ltd., Mr. Olusegun Alebiosu, says Nigeria is entering 2026 with renewed economic strength, as reforms begin to stabilise markets, lift investor confidence, and unlock fresh growth opportunities.
Speaking at the Nigeria Economic Outlook 2026, a hybrid forum organised by FirstBank in Lagos under the theme “The Great Calibration: Mastering Resilience in an Era of Asynchronous Growth”, Alebiosu described the outlook as a gradual but clear recalibration driven by policy discipline, financial sector reforms, and renewed momentum in productive industries.
Despite lingering inflationary pressures, currency realignments, and external shocks, he said Nigeria had shown resilience through innovation and structural reforms, positioning the economy for sustained recovery.
Alebiosu reaffirmed FirstBank’s commitment to national development, noting that the institution’s 131-year legacy remains 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, stressing that partnerships between government and the private sector will be critical to unlocking growth opportunities.
On the sidelines of the event, Alebiosu told newsmen that Nigeria was entering a new phase of macroeconomic stability, supported by easing inflation, stronger manufacturing output, and renewed investor confidence. He added that 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.
He 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 declared.
Alebiosu also pointed to rising industrial activity and decentralised power generation as catalysts for real-sector growth, while falling food and fuel prices suggested that market distortions were easing. Stronger external reserves and rising foreign inflows, he said, had improved Nigeria’s buffers against volatile capital movements.
“If 10 billion dollars in hot money leaves today, we can pay and not blink,” Alebiosu assured.Projecting economic growth of between seven and 10 percent in 2026, including during the election period, he concluded: “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.”
