First Bank to help customers tap opportunities

Segun Alebiosu, managing director and chief executive officer of the First Bank Group, has re-emphasised the commitment of the bank to partnering with customers in order to tap market opportunities despite the harsh macroeconomic pressures.

Alebiosu, in his opening address at the bank’s economic outlook tagged, ‘Nigeria 2025: Path to Economic Rebound & Recovery,’ said the 130-year old financial institution is positioned to help customers with innovative products and services that can help cushion and manage the impact of the economic realities. The lender will also enable them convert distinct opportunities in the economy.

“As a Bank that has done business in Nigeria over several economic cycles, FirstBank remains poised to walk with our customers through this difficult, yet promising, stage of our nation’s journey.

“This event reflects our institution’s understanding of the domestic economic realities, but more importantly, our readiness to partner with our customers to identify emerging opportunities within the economy to be properly equipped towards achieving both their personal and corporate goals in 2025,” Alebiosu said.

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Commenting on the macroeconomic challenges of the country, the First Bank Group CEO said Nigeria is currently facing a rising inflationary environment, coupled with a high interest rate, hurting households and businesses.

He however expressed optimism in 2025, citing the recent stability in the exchange rate and the market-driven petrol sale across the country.

“Early signs such as the stability that characterized the foreign exchange market on the back of the introduction of the electronic foreign exchange matching system in December 2024.

“The emergence of competition on the supply side of our nation’s downstream sector that is leading to falling prices in premium motor spirit (PMS) and the coming back on stream of the Port Harcourt & Warri refineries are indicative that there is, indeed, light at the end of the tunnel for us as a country,” Alebiosu said.