Economy resilient despite uncertainty, says FirstBank chief

Despite macroeconomic pressures—currency adjustments, inflationary cycles, shifting trade dynamics and global uncertainty Nigeria economy continues to demonstrate resilience, CEO FirstBank Group, Olusegun Alebiosu has said.

Speaking at the FirstBank Nigeria Economic Outlook 2026 with theme: “The Great Calibration: Mastering Resilience in an Era of Asynchronous Growth” in Lagos, he said the there is need to position Nigeria competitively in a recalibrating global economy, understand the sectors that will drive resilient growth and how businesses and institutions build durability amid volatility.

He said: “At FirstBank, resilience is not a slogan, it is a legacy spanning over 131 years. We have navigated cycles, supported businesses through transitions, financed ambition and stood as a stable partner to individuals, enterprises and government alike. Today, we remain deeply committed to being the institution of choice—trusted, capital-strong, digitally enabled and positioned to partner Nigeria’s next phase of growth,” he said.

He said that looking ahead to 2026 and beyond, the opportunities before us are significant. Demographics, technology, climate imperatives, regional trade and capital flows are reshaping competitiveness. For Nigeria, success will depend on disciplined reforms, investment in human capital, scalable infrastructure and strong financial intermediation.

“It will also depend on partnerships; between the public and private sectors, between capital and enterprise and between insight and execution. Today is therefore not about abstract diagnosis. It is about direction and decisions. The conversations here will shape strategies in boardrooms, influence investment flows and inform policy and business choices in the months ahead,” he said.

Continuing, he said FirstBank, believes that informed decisions are the foundation of sustainable progress.

“That belief underpins this platform and our broader role in the economy. We are proud to convene leading economists and researchers, industry leaders, digital and technology experts, as well as policy and strategic thinkers who will provide practical insight, challenge assumptions and illuminate the road ahead,” he said.

Other speakers also gave insights on their expectations on the domestic economy. 

The keynote speaker, Group Chief Economist & Managing Director of Research & Trade Intelligence, Afrexim Bank, Yemi Kale, said falling inflation numbers, gradual monetary easing, improved external reserves and managed FX flexibility are indicators of macroeconomic stabilization.

He also listed infrastructure gaps, energy constraints, skills mismatch and security and governance risks as indicators of structural challenges in the economy.

He advised economic managers to find ways to unlock long-term domestic capital, that would translate growth to jobs.

He said that naira devaluation will not go away soon, adding that devaluation in naira happens every five to six years.

He advised companies to hedge against naira devaluation through market diversification.

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Head, Treasury Sales & Derivatives Marketing, FirstBank, Ayokunle Ojo, spoke on the need for companies to build strong cash flows that will make their operations resilient.

He also spoke on the need for compliance and also found ways to navigate the uncertainty in today’s energy world.

Also speaking, Managing Partner, Verrak, Niyi Yusuf, said companies should focus on their core competent areas, and provide quality services to sustain their market control.

Head, Equities and Alternative Solutions, First Asset Management, Laura Fisayo-Kolawole, said the domestic economy is currently benefiting from disinflation, which makes the investment climate profitable to investors.