Economic Turnaround Brings Hope For Nigerians, Says Alawuba

The group managing director and chief executive of Africa’s Global Bank, United Bank for Africa (UBA) Plc, Oliver Alawuba, has declared that the Nigerian economy is now on solid ground, affirming that the recent positive turnaround solidifies this hope.

Alawuba stated this during the bank’s annual Marina Light-Up ceremony, officially marking the commencement of the Christmas season for UBA. This event, he said,  symbolised hope for the coming year. The ceremony saw the Lagos Marina illuminated with thousands of bright, colourful lights, attended by top bank executives, including the deputy managing directors, and numerous customers.

Speaking with journalists, Alawuba said, “We have seen a turnaround in the economy of this country”, noting that the economic shift was evident through several positive indicators, such as a declining inflation rate, stabilised exchange rates, as well as increased liquidity and confidence in the system.

The UBA GMD emphasised that this current economic momentum conveyed a crucial message of hope to the populace. “No message can be better than to tell Nigerians that there is hope,” he said.

Alawuba maintained that the turnaround in the economy solidified the fact that there is hope for Nigeria. Looking ahead, he expressed optimism that if the government continued to implement these policies, Nigeria’s situation would improve significantly. He pointed to improvements in the GDP growth rate.

He further stated that the light-up ceremony, an annual tradition, extended beyond mere singing and decoration, saying, “It is a declaration that we are light unto the world, creating an environment of light, of hope, of joy, an environment of love and sharing.”

On her part, UBA’s group head, Corporate Communications, Alero Ladipo, affirmed that the lighting-up ceremony was  special to the community, staff, and everyone around, serving as a “thank you” to the community.

Ladipo also highlighted customer-centric initiatives for the season, confirming that UBA is offering various discounts to customers who use their UBA card. This initiative aims to support people’s enjoyment and ensure they do not feel stretched during the season.

She noted that the light-up ceremony was symbolic for UBA to “rethink, re-energise, and be ready for 2026.

For UBA, 2026 is projected to be a very strong, focused, and driven year, dedicated to doing more for its communities and impacting people across Africa, not just in Nigeria.”