Nigeria Enters 2026 With Stronger Banking Sector — FirstBank CEO

Nigeria’s banking industry is starting 2026 with stronger liquidity buffers and an improving operating environment, positioning lenders for higher credit growth if risks are carefully managed, according to the Chief Executive Officer of First Bank of Nigeria Ltd., Olusegun Alebiosu.

Speaking at the Nigeria Economic Outlook 2026 forum in Lagos, Alebiosu said easing inflation, improving manufacturing activity, and renewed investor confidence are helping to stabilise the macroeconomic environment.

He noted that lower interest rates, alongside ongoing banking sector recapitalisation, are expected to support increased lending in 2026, provided banks avoid imprudent credit decisions.

According to him, recent reforms are gradually recalibrating the economy, strengthening market confidence and unlocking growth opportunities across key sectors.

Alebiosu reaffirmed FirstBank’s commitment to national development, citing the institution’s long-standing focus on strong capital buffers, digital transformation, and effective financial intermediation. He added that Nigeria’s competitiveness would depend on disciplined reforms, investment in human capital, scalable infrastructure, and stronger collaboration between the public and private sectors.

He also urged Nigerians in the diaspora to reconsider holding savings in foreign currencies, noting that returns on naira-denominated assets are increasingly outperforming foreign currency holdings amid improving exchange-rate dynamics.

Looking ahead, Alebiosu projected economic growth of between 7 and 10 per cent in 2026, expressing confidence that the economy would continue to expand even through the election period.