UBA CEO calls for stronger economic resilience in Nigeria — Premium Times Nigeria
United Bank for Africa (UBA) CEO Oliver Alawuba called for strengthening the country’s economic resilience through prudent policies and cooperation between the public and private sectors at a banking conference in Abuja, Nigeria. Premium Times Nigeria reports.
Alawuba, who also heads the association of Nigerian bank executives, spoke on September 8, 2026, at the 19th annual conference of the Chartered Institute of Bankers of Nigeria. The event focused on building a resilient economy amid shocks affecting the banking and financial industry.
Resilience to shocks
According to Alawuba, resilience must be deliberately embedded in policies, public institutions, infrastructure, supply chains, energy systems, financial architecture, and human capital development. He noted that a resilient economy should not avoid all shocks, but should be able to absorb them, adapt, and develop without shifting the full cost of crises onto the most vulnerable citizens.
More current news is available on the UA.News Telegram channel Telegram.
The UBA chief cited geopolitical conflicts, instability in energy and shipping markets, and inflationary pressure as factors behind global structural shocks. He also positively assessed the coordination of fiscal and monetary policy by Nigeria’s federal government and the country’s central bank, noting improvements in key economic indicators.
The role of the banking sector
Alawuba described banks as financial shock absorbers and partners in economic growth. According to the data he presented, 33 banks raised 4.65 trillion Nigerian naira as part of the recent recapitalization. In his view, this should strengthen capital adequacy, asset quality, balance-sheet transparency, and investor confidence, as well as expand the sector’s capacity to finance major projects.
He also cited data on technology investments by four leading banks: in the first quarter of 2026, they exceeded 119 billion naira, up 43.2% from a year earlier. Nigerian President Bola Ahmed Tinubu, represented at the conference by Finance Minister and economic coordinator Taiwo Oyedele, called on banks to direct financing toward productive businesses, job creation, and investment.
