Stanbic IBTC, leading financial institution, has reinforced its commitment to driving enterprise growth and economic transformation as it convened policymakers, business leaders, and entrepreneurs at its Nigeria Business Summit 2026.
The two-day summit, themed: ‘Nigeria Means Business: Powering Sectors, Growing Sustainable SMEs & Unlocking Global Trade’, brought together stakeholders across agriculture, renewable energy, ICT, and international trade corridors spanning Africa, China, and the Middle East.
In his opening remarks, Chukwuma Nwokocha, Chief Executive of Stanbic IBTC, described the summit as a platform for meaningful engagement and value creation.
“Today marks the beginning of two important days of learning, connection, and forward-thinking conversations,” he said. “This summit is not just about sharing ideas; it is about creating new value by connecting people, enabling collaboration, and challenging perspectives.”
He reaffirmed Stanbic IBTC’s role as a strategic partner to businesses, noting that the institution continues to provide the insights, capital, and trade solutions required to scale enterprises and unlock opportunities across sectors. He was represented by Adekunle Adedeji, Executive Director/Chief Finance and Value Management Officer, Stanbic IBTC.
Delivering the keynote address, Wale Edun, Nigeria’s Minister of Finance and Coordinating Minister of the Economy, pointed out the necessity of ongoing reforms in repositioning Nigeria’s economy for sustainable growth.
“For nearly a decade, GDP growth averaged around two per cent annually. Recently, we have seen improvement to about four per cent, supported by ongoing macroeconomic reforms,” he said. “While this progress is encouraging, it remains below the level required to significantly reduce poverty.”
Edun noted that reforms implemented since 2023 have strengthened macroeconomic stability, improved government revenue, and restored investor confidence. He also highlighted the National Single Window initiative as a transformative step toward improving trade efficiency through automation and transparency.
A major highlight of the summit was the panel discussion, where experts examined macroeconomic trends, trade competitiveness, and the future of SMEs in Africa.
Panelists emphasised the importance of understanding economic cycles across African markets when making investment decisions. Muyiwa Oni, Head of Equity Research West Africa at Stanbic IBTC Bank noted: “Different countries move through economic cycles at different speeds. Businesses must understand where each market is in its cycle to make informed decisions on resource allocation and investment.”
Otunba Bimbo Ashiru, Chairman, Odu’a Investment Company Limited, stated that “The only way goods can move efficiently across borders is through functional infrastructure. “We are seeing improvements in port operations and digitisation, but we must go further, especially in rail transport connectivity across African countries.”
“SMEs account for over 90 per cent of businesses, yet access to finance remains a major challenge,” Ifeoma Abdul, Head, Trade, Business & Commercial Banking, Stanbic IBTC Bank, said. “We need stronger support from development finance institutions to de-risk lending, as well as the expansion of alternative funding options like supply chain finance and invoice discounting to ease collateral constraints.”
In addition, she argued that supportive government policies must be deliberately designed to favour SME growth and cross-border expansion, while systems like the Pan-African Payment and Settlement System (PAPSS) can reduce foreign exchange risks by enabling local currency trade.
The Stanbic IBTC Nigeria Business Summit seeks to generate practical insights, partnerships, and policy directions that will shape Nigeria’s economic trajectory and reinforce its position as a leading investment destination in Africa.
