Stanbic IBTC Holdings has concluded the 2026 Nigeria Business Summit, with stakeholders emphasising trade expansion and sustainable economic growth.
In a statement on Tuesday, the financial institution said the two-day summit brought together industry leaders, policymakers, entrepreneurs, and stakeholders to explore business sustainability and unlock global trade opportunities.
The event featured a keynote address by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, who called for a shift toward an export-driven economy.
“Our true potential lies in becoming a leading export economy,” Mr Edun said, noting that increased participation in regional and global trade is essential for diversifying foreign exchange earnings and driving inclusive growth.
Economic outlook
Mr Edun stated that while Nigeria’s GDP growth has improved to about four per cent, it remains insufficient to significantly reduce poverty.
According to him, the country’s economic strategy is transitioning from stabilisation to growth acceleration, with trade expansion at its core.
He highlighted reforms such as improved foreign reserves, rising non-oil revenues, and renewed investor confidence as signs of resilience, while stressing the need for continued investment in infrastructure, logistics, and policy coordination.
Mr Edun also underscored the role of small and medium-sized enterprises, noting that SMEs account for over 90 per cent of businesses and are critical to inclusive growth.
Summit focus
With the theme “Nigeria Means Business: Powering Sectors, Growing Sustainable SMEs & Unlocking Global Trade,” the summit addressed key sectors including agribusiness, renewable energy, ICT, telecommunications, and Africa–China banking.
Additional sessions covered family business sustainability, artificial intelligence, insurance, pensions, and wealth management, alongside presentations such as the Africa Trade Barometer and discussions on intra-African trade.
The Chief Executive of Stanbic IBTC Holdings, Chuma Nwokocha, who was represented by the Chief Finance and Value Management Officer, Kunle Adedeji, emphasised the importance of collaboration.
“This summit has reinforced the importance of creating platforms where ideas can flourish, and businesses can grow sustainably,” Mr Adedeji said on behalf of Mr Nwokocha.
Similarly, Executive Director, Business & Commercial Banking, Remy Osuagwu, said the discussions provided practical insights across sectors.
“From our conversations on energy and healthcare to trade and agribusiness, the sessions have offered perspectives that are both insightful and practical,” Mr Osuagwu said.
The Chief Executive of Stanbic IBTC Bank, Wole Adeniyi, represented by Bunmi Dayo-Olagunju, highlighted the focus on SMEs and emerging trends.
“Our goal is to explore what’s next and understand how developments like artificial intelligence and evolving financial services will shape businesses,” Mrs Dayo-Olagunju said on behalf of Mr Adeniyi.
The summit underscores growing collaboration between the public and private sectors to drive economic growth, with trade expansion and SME development seen as critical to Nigeria’s long-term economic resilience and global competitiveness.
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