Tinubu pledges support for banks, highlights plans for globally competitive economy

By Kunle Sanni

President Bola Tinubu has reiterated his administration’s commitment to fostering a sustainable and globally competitive economic system that enables Nigerian banks and financial institutions to thrive.

Speaking at the groundbreaking ceremony for the new headquarters of First Bank of Nigeria at Eko Atlantic City in Lagos, Tinubu—represented by Vice President Kashim Shettima—emphasized that banks can only prosper within a strong economy. He assured that his government is working to create the necessary environment for growth.

“Banks are the engines of economic growth, and we owe it to them to champion a system that guarantees sustainability and global competitiveness,” Tinubu said.

“Our expectation is for our banks to excel, expand beyond our shores, and earn their place among the world’s most viable and profitable enterprises.”

He acknowledged that his administration assumed office at a challenging time, requiring bold and necessary economic decisions. Despite this, the government remains focused on stabilizing the financial sector and fostering an environment where businesses can thrive.

President Tinubu also commended First Bank for its 130-year legacy of resilience and adaptability, describing it as an institution that has stood the test of time.

“First Bank has remained a towering institution, outliving disruptions and redefining banking through the decades,” he said. “This new headquarters is not just a building but a testament to the bank’s commitment to reinvention and future growth.”

Lagos State Governor Babajide Sanwo-Olu highlighted the significance of Eko Atlantic City as a financial hub, noting that the project was initiated during Tinubu’s tenure as Lagos governor. He emphasized Lagos’ ambition to become the center of finance and commerce in Africa.