First Bank of Nigeria Limited, the commercial banking subsidiary of First HoldCo Plc, has hosted its annual Nigeria Economic Outlook, a high-level economic dialogue aimed at shaping ideas, insights and strategies for Nigeria’s economic journey into 2026.
The forum, held in Lagos on Tuesday, convened leading economists, business executives, financial experts and policymakers to assess Nigeria’s economic performance in 2025 and examine projections and opportunities for the year ahead.
Themed “The Great Calibration: Mastering Resilience in an Era of Asynchronous Growth,” the event was designed to equip FirstBank customers and stakeholders with practical guidance on navigating an increasingly complex and uneven global and domestic economic environment.
Delivering the keynote address, Group Chief Economist and Managing Director, Research and Trade Intelligence at Afreximbank, Mr. Yemi Kale, examined the evolving global macroeconomic landscape, noting that growth, inflation, capital flows and monetary policies are no longer moving in sync.
According to Kale, businesses and economies that prioritise resilience and adaptive strategies will be better positioned to navigate uncertainty and fragmentation in the global system.
“As we approach 2026, there is no single policy path or universal investment playbook. Winners in this environment will not be defined by size alone, but by credibility, resilience and adaptability,” he said.
Kale noted that African economies heavily reliant on a narrow range of commodities would continue to face heightened risks, while identifying Nigeria’s digitally savvy youthful population as a key strength capable of positioning the country as a regional technology leader. He added that countries combining credible policies, sustained reforms and infrastructure investment are likely to record the strongest economic performance on the continent.
He also expressed optimism that Nigeria’s recent reforms, particularly in foreign exchange management and subsidy removal, are restoring investor confidence.
“If sustained and deepened, these reforms could return Nigeria to the league of credible and investable African economies,” he stated.
In his opening remarks, Chief Executive Officer of FirstBank, Mr. Olusegun Alebiosu, described the current global economic environment as one of uneven growth and heightened recalibration, stressing that early adaptation and long-term thinking remain critical.
“History shows that nations and institutions that adapt early, think long-term and deliberately build resilience do not merely survive challenging periods; they emerge stronger,” Alebiosu said.
He identified investment in human capital, disciplined reforms, scalable infrastructure, effective public-private partnerships and robust financial intermediation as key drivers of Nigeria’s economic progress in the year ahead.
The panel session featured insights from several industry leaders, including Olusegun Zaccheaus, Chief Economist at PwC; Francis Anatogu, CEO of Transaharan; Prof. Bongo Adi of Lagos Business School; Niyi Yusuf, Managing Partner at Verraki and Chairman of the Nigerian Economic Summit Group; and Cheta Nwanze, Lead Partner at SBM Intelligence.
Other panellists included Osahon Ogieva, Deputy Managing Director of FirstBank Ghana; Ayokunle Ojo, Head of Treasury Sales and Derivatives Marketing at FirstBank; and Laura Fisayo-Kolawole, Head of Equities and Alternative Solutions at First Asset Management.
Speaking on key economic signposts for 2026, Zaccheaus highlighted global interest rates, OPEC+ dynamics and technological advancement as critical factors businesses must monitor. He noted that lower interest rates in advanced economies could redirect capital flows toward developing markets offering higher yields, with oil prices and production levels remaining pivotal to Nigeria’s economic outlook.
On resilience, Ogieva emphasised that sustainable growth in 2026 would depend less on rapid expansion and more on the ability to fund growth during periods of stress. He identified disciplined cash flow management, sustainable revenue models and flexible supply chains as essential indicators of resilience.
Contributing to the discussion, Yusuf stressed the importance of a mindset shift among businesses, urging organisations to move from rigid, transaction-focused models to adaptive, customer-centric solutions.
He noted that consistency, adaptability and strategic focus would be crucial for businesses seeking to thrive in what is expected to be a volatile economic environment.
The Nigeria Economic Outlook forum once again reinforced FirstBank’s commitment to thought leadership, customer empowerment and supporting businesses to build resilience amid evolving economic realities.
