By Bashir Aliyu
President Bola Tinubu has reaffirmed his administration’s commitment to creating a sustainable and globally competitive system for Nigerian banks and financial institutions to thrive. The President made the announcement during the groundbreaking ceremony for First Bank’s 43-story headquarters at Eko Atlantic City in Lagos on Wednesday.
Represented by Vice President Kashim Shettima, Tinubu emphasized that banks can only prosper in a thriving economy. He noted that the success of the administration’s economic agenda hinges on the cooperation and capacity of financial institutions.
Banks as Engines of Economic 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, to expand beyond our shores, and to earn their place among the world’s most viable and profitable enterprises.”
The President acknowledged that his administration assumed office during a challenging period, requiring bold and difficult decisions to stabilize the economy. “We assumed office at a time that demanded bold, progressive thinking, a time that called for difficult but necessary decisions to stabilize our fiscal and monetary landscape,” he said.
Creating an Enabling Environment
Tinubu assured stakeholders that the government is committed to fostering an enabling environment for businesses to flourish. “This administration is committed to creating an enabling environment for businesses to flourish, and I assure you that you have a partner in this government. We are here to climb the hills of progress with you,” he added.
Celebrating First Bank’s Legacy
The President commended First Bank for its resilience and adaptability over its 130-year history. “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.
He attributed the bank’s success to its ability to reinvent itself. “In an industry where the fate of many banks is sealed in the dusty pages of history, surviving—let alone thriving—demands more than just calculated risks; it takes ambition and the brilliance of refined minds,” Tinubu noted.
Dignitaries in Attendance
The event was graced by several prominent figures, including Governors Dapo Abiodun (Ogun) and Lucky Aiyedatiwa (Ondo), Lagos Deputy Governor Dr. Obafemi Hamzat, former Senate President Bukola Saraki, and business leaders such as Aliko Dangote, Gilbert and Roland Chagoury, Deji Adeleke, Mohammed Indimi, and Senator Daisy Danjuma.
