We’ll Sustain Partnership With Banks For Economic Growth, Says Sanwo-Olu

Lagos State Governor Babajide Sanwo-Olu has said his administration will sustain mutually beneficial transformative relationships with financial institutions, particularly the First Bank of Nigeria, to drive economic growth and meet the needs and yearnings of Lagosians.

He said the relationship Lagos State is creating with banks is to enhance and improve the quality of life for Lagos residents, as well as improve the socio-economic situation in the country.

Governor Sanwo-Olu spoke during a courtesy visit by the executive management of First Bank of Nigeria Limited, led by its new managing director/chief executive officer, Mr. Olusegun Alebiosu, at Lagos House Marina.

Sanwo-Olu, who congratulated Alebiosu on his new appointment, charged him to create value for shareholders and other stakeholders of the bank.

He said, “Part of the consequences of our position in Lagos State is that we are home to many people. And since we are the commercial, economic, and financial nerve centre of our country, there will always be a need for the Lagos State government to be pulled here and there by different stakeholders.

“We have a special space for First Bank because we have identified relationships that have been mutually beneficial. We have had banking relationships over the years, and both the state government and your institution have seen value created. We have seen extreme economic movement.

Earlier, Alebiosu said First Bank is ready to partner with the Lagos State Government on infrastructural development.

He said, “Power infrastructure is important, and we know what happens in Lagos is what everybody in Nigeria copies. So, we look forward to the framework that the Lagos State Government will set up.

“We are sure that there are so many people in Lagos who want to provide power. Even if Lagos is not setting up any one on its own, we are sure that there are many private investors that will set up massive power projects that will fit into Lagos, and the cost of production will drop.’’