Tinubu: We’ll Support Bank Expansion to Boost Economic Growth







Tinubu: We’ll Support Bank Expansion to Boost Economic Growth


President Bola Tinubu has said that his government is working hard to create a strong and competitive system where Nigerian banks and financial institutions can grow.


Speaking at the groundbreaking ceremony for First Bank’s 43-story headquarters in Eko Atlantic City, Lagos, Tinubu—who was represented by Vice President Kashim Shettima—stated that banks can only succeed if the economy is doing well.





He explained that the success of his administration’s plans depends on how well financial institutions cooperate and perform.


“Banks play a key role in economic growth, and we must support a system that ensures their sustainability and global competitiveness. We expect our banks to succeed, expand internationally, and become some of the most profitable in the world,” Tinubu said.



He assured that the government is creating a business-friendly environment to help companies grow.


Tinubu also acknowledged that when his administration took office, the country was facing economic challenges. However, they made bold and necessary decisions to stabilize the economy.


“We took office at a time that required bold and progressive actions. We had to make difficult but necessary decisions to strengthen our financial system. We can no longer delay Nigeria’s economic transformation,” he said.


He promised that his government is committed to supporting businesses and ensuring they have the right environment to thrive.





The President also praised First Bank for its resilience and ability to adapt over the years. He highlighted that the bank has continued to grow despite challenges, thanks to its ability to reinvent itself.


“First Bank has gone through different phases—from the Bank of British West Africa to Standard Bank of West Africa, and now a 130-year-old success story. It has remained a strong institution, overcoming challenges and reshaping banking through the years,” Tinubu said.




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