Group Managing Director of United Bank for Africa (UBA) and Chairman of the Body of Bank CEOs in Nigeria, Oliver Alawuba, has called for deliberate economic policies and stronger cooperation between the public and private sectors to ensure that Nigeria’s recent economic gains translate into sustainable and inclusive growth.
Alawuba made the call while delivering his goodwill speech at the 19th Annual Banking and Finance Conference of the Chartered Institute of Bankers of Nigeria (CIBN), held in Abuja last week.
Speaking on the theme of the conference, “Building a Resilient Economy in an Era of Disruptions: Imperatives for the Banking and Financial Services Industry,” Alawuba said economic resilience must be intentionally built into Nigeria’s policies, institutions, infrastructure, supply chains, energy systems, financial architecture and human capital.
He explained that resilience does not mean an economy will never face shocks, but rather that it should have the capacity to withstand disruptions, adjust to changing conditions and continue progressing without placing the entire burden of such shocks on vulnerable citizens.
According to him, the global economy remains exposed to several structural disruptions, including geopolitical conflicts, fluctuations in energy and shipping markets, as well as inflationary pressures. He therefore stressed the need for Nigeria to develop systems that can withstand future challenges instead of waiting for disruptions before taking action.
Alawuba commended the Federal Government and the Central Bank of Nigeria (CBN) for what he described as increasingly effective coordination between fiscal and monetary policies.
He said recent improvements in major economic indicators represent important milestones in Nigeria’s journey towards stabilisation, but stressed that the gains should translate into wider economic opportunities and better living conditions for Nigerians.
The UBA boss also highlighted the banking sector’s role in strengthening the economy, describing banks as the country’s “financial shock absorbers and growth partners.”
He pointed to the ₦4.65 trillion raised by 33 banks during the recent recapitalisation exercise as a major development for the sector, saying it would help strengthen capital adequacy, asset quality, balance-sheet transparency and investor confidence while improving banks’ ability to withstand shocks and finance larger-scale projects.
Alawuba added that the resilience of the banking industry is also being strengthened through increased investments in digital infrastructure, cybersecurity and operational resilience.
He cited technology investments of more than ₦119 billion by four leading banks in the first quarter of 2026, representing a 43.2 per cent year-on-year increase, as evidence of the sector’s growing focus on technology and operational capacity.
