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We Are Building Viable, Globally Competitive Economy, Says President Tinubu
We Are Building Viable, Globally Competitive Economy, Says President Tinubu
** Lauds First Bank’s legacy of innovation, adaptability at groundbreaking for new headquarters
By: Our Reporter
President Bola Ahmed Tinubu has said his administration is working assiduously to create a system that is sustainable and globally competitive for Nigerian banks and other financial institutions to thrive.
He noted that government policies under his administration are motivated by the reality that the nation no longer has the luxury of time to postpone its economic transformation.
President Tinubu, who spoke on Wednesday when he performed the groundbreaking ceremony for a new state-of-the-art headquarters of First Bank of Nigeria at Eko Atlantic City in Lagos State, observed that banks can only prosper under a thriving economy.
Represented at the event by his deputy, Vice President Kashim Shettima, the President however pointed out that what his “administration does and sets out to accomplish rests on the cooperation and capacity of” the financial institutions.
“Banks are the engines of economic growth, and we owe it to them to champion a system that guarantees sustainability and global competitiveness. Our expectation is for our banks to excel, to expand beyond our shores, and to earn their place among the world’s most viable and profitable enterprises,” he stated.
President Tinubu maintained that his administration is working to create an enabling environment for businesses to flourish despite assuming office at a time that required difficult but necessary decisions to stabilise the nation’s economy.
He said, “We assumed office at a time that demanded bold, progressive thinking—a time that called for difficult but necessary decisions to stabilise our fiscal and monetary landscape. Our policies are inspired by the reality that we can no longer afford to postpone our economic transformation.
“This administration is committed to creating an enabling environment for businesses to flourish, and I assure you that you have a partner in this government. We are here to climb the hills of progress with you.”
The President commended First Bank for standing the test of time, saying the secret of the bank’s steadfastness, legacy of innovation and adaptability lies in the art of reinvention.
“From the Bank of British West Africa to Standard Bank of West Africa and, finally, to this 130-year-old success story, First Bank has remained a towering institution, outliving disruptions and redefining banking through the decades.
“In an industry where the fate of many banks is sealed in the dusty pages of history, surviving—let alone thriving—demands more than just calculated risks; it takes ambition, and the brilliance of refined minds. I join you here today to celebrate a legacy of innovation and adaptability that has kept First Bank ahead of the curve,” he added.
President Tinubu congratulated the board and management of First Bank for investing in a new head office, noting that it is a reassurance to the bank’s “customers, shareholders, and the government that Nigeria’s oldest financial institution is not resting on its laurels.”
He continued: “I understand all too well that history demands the best of us. The ability to manage risk is what distinguishes great banks from transient institutions.
“This groundbreaking ceremony is not just about laying the foundation for a new edifice; it testifies to First Bank’s commitment to reinvention—to adapting to the realities of our time while staying true to its heritage.
“The decision to establish this state-of-the-art headquarters in Eko Atlantic City is symbolic of a vision that extends beyond the present, positioning First Bank as a financial powerhouse in Nigeria and beyond.”
In his remarks, Lagos State Governor, Babajide Sanwo-Olu, thanked Vice President Shettima for the work he is doing for the country in support of the President.
The Governor poured encomiums on President Bola Tinubu, recalling that he was in his cabinet when the idea to create Eko Atlantic City was birthed, many of the cabinet members expressing doubt about the possibility to create a dry ground out of the bar beach.
“We want to set Lagos on a trajectory of becoming the centrepiece of finance and commerce not only in Nigeria but Africa and beyond. It will be Africa’s mega city that is safe and secure to take the mantle of leadership in the financial sector.”
Sanwo-Olu thanked the Chairman of First Bank of Nigeria (FBN) Holdings, Femi Otedola, noting that while he is economical with his words, each statement he makes carries significant weight.
Also speaking, Ogun State Governor, Prince Dapo Abiodun, said it was an honour to witness what could be aptly described as an iconic building and a significant milestone for the First Bank.
He noted that the building further redefines First Bank and its resilience in the banking industry, saying “this is bold, audacious, what tenacity is all about and First Bank has always blazed the trail.”
According to him, First Bank has since 1894 evolved into a bank with well over seven hundred branches in Nigeria and worldwide.
On his part, Chairman of First Bank Holdings, Chief Otedola, expressed gratitude and excitement over the groundbreaking ceremony, just as he eulogized President Tinubu “for his unalloyed support for this great project.”
Otedola also praised Vice President Shettima for being at the forefront of encouraging development in the country, even as he thanked the Lagos State Governor for his unwavering support and creating a conducive atmosphere for doing business in the state.
He also expressed gratitude to customers of First Bank, the regulators, especially the Governor of Central Bank of Nigeria for stabilising the activities of the services industry in the country, among others.
Welcoming the dignitaries and other guests to the ground breaking event, Managing Director and CEO of First Bank Plc, Mr. Olusegun Alebiosu, said since its establishment in 1894, First Bank had been at the forefront of Nigerian banking evolution, stressing that the journey of the bank has been defined by accountability, transparency and unwavering commitment to customers.
“It is a legacy that stood the test of time – over 13 decades, engulfing the financial landscape of our great nation and continuously shaping the business of banking in Nigeria and beyond,” he stated.
In his goodwill message, the chairman of Dangote Group, Alhaji Aliko Dangote, commended the Chairman of First Bank Group and his Board members “for building the massive structure,” describing it as always being first while others follow.
He said he is being challenged to join First Bank in Eko Atlantic City, noting, however, that after delivering the refinery, he needed to rest but will join Eko Atlantic City in the near future.
We Are Building Viable, Globally Competitive Economy, Says President Tinubu
Majority Leader of Youth Parliament Calls for Outlawing Under-18 Marriage
By: Michael Mike
The Majority Leader of the Nigerian Youth Parliament, Hon. Ridwan Barade has called for the outlaw and criminalization of marriage of male or female under the age of 18.
Speaking at a National Roundtable Dialogue with High-Level Policy Makers in commemoration of of the Day of the African Child 2025 organised by the African Youth and Adolescent Network on Population and Development (AfriYAN) Nigeria and United Nations Population Fund (UNFPA) in Abuja, Barade said: “A child who is not yet done with education, who doesn’t even have the intellect of herself, is already in a house giving birth to children, which is very wrong, and if we don’t change that narrative, then we won’t be able to move forward as a country.”
He added that: “The normal age for an adult is 18, so I believe if we can have a rule that you can’t marry before 18, then I believe we’re going to have what we’re looking for,” stressing that “the government should make a rule that no parent should give their child out before 18.”
He noted that if we can be able to penalise people that are doing such things, then we’re going to be great country.
He revealed his readiness to work with other members of the Nigerian and other stakeholders to prepare the legal framework for outlawing marriage of minors, people below 18 years.
On her part, the Nigeria National Coordinator of AfriYAN, Adek Bassey has called for the involvement of more youth in governance. She said: “We should be on the roundtable where decisions are taken.”
She also advocated for transparency of programme initiated for youth by government, noting that as at now there are dearth of programmes for youth in the country.
She added that governments in the country should embark on programmes centered around youth and release funds to build youth in the country.
Bassey while commending UN and its agencies for funding programmes meant to advance the course of youth in Nigeria, said the youth will be happy when the major funds for them are from Nigerian government.
She said: “So that when we see a call from our own pool of funds from the government, all of us will be excited that this funding, we are funded by the Nigerian government. No, we are always funded by UNFPA, we are always funded by UN Women’s Agency. We want to be funded by our own Nigerian pool fund for young people, you know, let it be that accessible.
“Put your criteria for us to meet, which we are definitely going to meet and we have track records of our work. So that is what we want to see. Every year, annual call from the government, youth apply for this fund and get to do programmes and you have a tracking system to see that this funding is actually being used for this issue.”
Majority Leader of Youth Parliament Calls for Outlawing Under-18 Marriage
PEBEC Commences Nationwide Tour on Ease of Doing Business
By: Michael Mike
The Presidential Enabling Business Environment Council (PEBEC) is commencing a nationwide tour to sensitize on the ease of doing business.
The tour which would see it conducting technical sessions and town hall meetings in all the 36 states of the federation and FCT is to bring home the strategies on doing business right.
A press statement at the weekend by PEBEC read: “The Presidential Enabling Business Environment Council (PEBEC) is
pleased to announce its nationwide tour, starting on June 23, 2025, to drive the ease of doing business reforms across all 36 states of the federation and the Federal Capital Territory (FCT). The tour will run from the last week of June into mid July.
“The tour will feature technical sessions and town hall meetings, providing a platform for stakeholders to engage with government officials, share experiences, and propose reforms to ease business operations.”
The press statement further read that: “The goal (of the tour) is to create a more conducive business environment, attracting investment, and driving economic growth across Nigeria.”
It revealed that the tour will provide an opportunity for businesses, investors, and the general public to interact with government officials, share concerns, and propose solutions to challenges hindering business growth.
“For more information about the PEBEC nationwide tour, including dates and venues for each state,” the statement asked interested Nigerians to visit PEBEC website or social media channels.
PEBEC Commences Nationwide Tour on Ease of Doing Business
Shettima Welcomes Akwa Ibom Governor to APC, Says Tinubu Is a Bridge-Builder
Vice President Kashim Shettima has assured Akwa Ibom State Governor Umo Eno that his defection from the Peoples Democratic Party (PDP) to the All Progressives Congress (APC) is a decision he will never regret.
Speaking on Saturday in Uyo during a grand reception held at the Godswill Akpabio International Stadium, Shettima said President Bola Ahmed Tinubu personally sent a message to the governor, assuring him that the APC would be home to him and his supporters.
“This party is your home. You will not be humiliated. You will not be forsaken,” Shettima declared. “Mr. President asked me to assure you personally—no one will question your place here.”
Describing Tinubu as a “bridge-builder” and “deep-rooted democrat,” the Vice President praised the president’s enduring commitment to democratic values, recalling how he stood firm during challenging political periods in Nigeria’s history.
“Few figures in our national history have given as much and demanded so little in return,” Shettima said, referencing Tinubu’s past political sacrifices.
The Vice President noted that the APC is not a party driven by media hype but by vision, merit, and loyalty. “We are not just a political platform; we are a movement,” he added.
In his remarks, Governor Umo Eno said he joined the APC to align with the Tinubu-led administration’s “Renewed Hope” agenda and fast-track the realization of key infrastructural projects, including the long-delayed Deep Sea Port in Akwa Ibom.
“My progressive state movement is predicated on enlightened state interest—to support Mr. President’s bold and audacious reforms,” the governor said.
APC National Chairman, Dr. Abdullahi Ganduje, welcomed the governor and his supporters, hailing the massive turnout as a demonstration of public trust in the APC.
Senate President Godswill Akpabio emphasized the significance of the governor’s defection, describing it not as just a political move but as a full-fledged “movement.” He assured Akwa Ibom citizens of the federal government’s support for development projects in the state.
Other notable speakers included Imo State Governor and Chairman of the Progressive Governors Forum, Hope Uzodimma, who commended Governor Eno’s decision, and Cross River State Governor Bassey Otu, who declared the South-South zone’s full alignment with the federal government.
The event climaxed with the presentation of the APC flag and broom to Governor Eno, symbolizing his official welcome into the party and reaffirming the APC’s stance as a vehicle of national progress.
Shettima Welcomes Akwa Ibom Governor to APC, Says Tinubu Is a Bridge-Builder
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