Tinubu makes case for PPPs at First Bank’s new HQ groundbreaking

President Bola Tinubu says bold economic reforms and strategic public-private partnerships (PPPs) will ensure Nigeria becomes a top investment destination.

Tinubu spoke on Wednesday at the groundbreaking ceremony for FirstBank’s new headquarters in Lagos, describing the project as a landmark development in Nigeria’s financial landscape.

The president was represented by Vice-President Kashim Shettima at the event.

“Today, we lay the foundation for a monumental structure in Nigeria’s financial landscape, the first bank iconic tower. This tower is a symbol of our nation’s progress and ambition and will stand as a testament to our economic strength and vitality,” Tinubu said.

“As president of this great country, I reaffirm our unwavering commitment to fostering an environment where significant investment and transformative projects like this can thrive.

“Through bold economic reforms, strategic public-private partnerships and infrastructure development, we are ensuring that Nigeria once again will become a top destination for investments”

Tinubu praised FirstBank’s 130-year legacy in driving economic growth, empowering businesses, and expanding Nigeria’s financial reach globally.

The president commended the bank’s investment in the 40-story headquarters, noting that the project reinforces Lagos’ position as a leading financial hub and showcases the strength of Nigeria’s private sector.

‘NEW HEADQUARTERS WILL SERVE AS HUB FOR FINANCIAL INNOVATION’

Speaking at the event, Olusegun Alebiosu, FirstBank’s chief executive officer (CEO), described the new headquarters as more than an architectural masterpiece but a symbol of the bank’s commitment to financial innovation.

He said the new headquarters will serve as a hub for financial innovation, ensuring First Bank remains at the forefront of an evolving digital banking landscape.

“This new headquarters complex is not just about the modern architectural masterpiece. It is about reimagining the banking for generations yet unborn,” Alebiosu said.

“It will serve as a hub for financial innovation, leading to transformation and operational expertise in ensuring that First Bank remains ahead in an era where technology is reshaping the industry.

“It is situated in the heart of the Eko Atlantic city. The iconic First Bank headquarters complex, with 40-story, will become the tallest building in Nigeria upon its completion.

“It will be a symbol of strength, embodying the progress we have made as an institution, and reflecting our ambition to serve new benchmarks in service delivery, operational efficiency, and customer experience.”

Alebiosu thanked the federal government, regulators, and other stakeholders for fostering a business-friendly environment and pledged the bank’s continued contribution to Nigeria’s economic development.

“May this groundbreaking be the beginning of greater milestones for Lagos state, Nigeria and the African continent,” he added.

In his remarks, Dapo Abiodun, governor of Ogun state, said the project would create thousands of jobs during its construction phase and serve as a hub for banking education.