President Bola Tinubu has expressed his vision for Nigerian banks to expand internationally and establish themselves among the world’s most successful financial institutions.
Speaking at the groundbreaking ceremony for First Bank’s new headquarters at Eko Atlantic, Lagos, Tinubu, represented by Vice President Kashim Shettima, reaffirmed his administration’s commitment to a strong and sustainable financial system that drives national prosperity.
He emphasized that his economic policies are designed to accelerate Nigeria’s transformation by fostering a business-friendly environment and supporting major investments and infrastructural projects.
Strengthening Nigeria’s Financial System
Highlighting the crucial role of banks in economic development, Tinubu stated:
“Banks are the engines of economic growth. Our goal is to establish a system that ensures their sustainability and global competitiveness. We envision our banks excelling beyond Nigerian shores and solidifying their position among the world’s most successful enterprises.”
Despite inheriting economic challenges that required tough decisions, Tinubu assured Nigerians that his administration remains focused on implementing bold reforms, forging strategic partnerships, and building essential infrastructure to create opportunities for businesses to thrive.
He also commended First Bank for its resilience, noting that its success is rooted in its ability to innovate and adapt over the years.
Lagos as Africa’s Financial Hub
Lagos State Governor Babajide Sanwo-Olu underscored the transformative vision behind Eko Atlantic City, recalling its early challenges and eventual progress during Tinubu’s tenure as governor.
“Our vision is to make Lagos a centerpiece of finance, not just in Nigeria but across Africa and beyond. The Eko Atlantic City project is a testament to hard work and belief in our nation’s potential,” Sanwo-Olu stated.
A Landmark for Nigeria’s Banking Sector
Chairman of First Holdco, Femi Otedola, described the new headquarters project as a historic achievement. The planned 40-story, eco-friendly skyscraper—set to be Nigeria’s tallest building—will establish a new benchmark for financial institutions in Africa.
“This iconic building represents an exciting milestone for First Bank and its customers, who remain at the heart of everything we do,” Otedola remarked.
First Bank Group CEO, Olusegun Alebiosu, also highlighted the project’s broader economic significance, emphasizing its role in fostering growth across Africa and delivering long-term value to stakeholders.
Key Takeaways
- The new headquarters marks a major milestone for Nigeria’s financial sector, reinforcing the administration’s commitment to attracting investments and economic development.
- The building will be a technologically advanced structure incorporating cutting-edge construction techniques.
- With over 130 years of banking history, First Bank’s expansion reflects its dedication to excellence, innovation, and long-term growth.
