First Bank of Nigeria Limited on Thursday held its Nigerian Economic Outlook webinar to reflect on national and global economic trends that shaped 2021, while forecasting the economic outlook of 2022.
Themed “A rearview look at 2021, lessons learnt-Outlook 2022,” the event which was open to the public held on Zoom.
The webinar set the tone for the year by providing an opportunity for participants to learn directly from economic experts to stay informed and knowledgeably empowered to make the right decisions in their socio-economic activities in 2022 which will be impacted by the micro and macro-economic activities of the country.
With Nigeria’s economy projected to grow by 2.7% in 2022 as predicted by the International Monetary Fund (IMF) based on an expected recovery in crude oil prices and production, Nigeria will see economic activities normalising. Key economic activities to watch out for in 2022 include the global market trends, removal of subsidies, and floatation of the naira. However, recoveries in the oil sector and maximization of the e-Naira could help keep the parallel market in check.
Managing director/chief executive officer of Financial Derivatives Company Limited Bismarck Rewane was the event’s keynote speaker. He also led deliberations.
Other speakers were Ini Ebong, executive director, First Bank of Nigeria Limited treasury and international banking; Opeyemi Agbaje, chief executive officer (CEO) of RTC Advisory Services Limited, Olaitan Martins, group executive, transaction banking and Augustine Uddin, the chief economist, FirstBank.
Since the outbreak of Covid-19 over two years ago, the global economy has witnessed viral economic shocks that adversely affected socio-economic activities. These have left many individuals and businesses struggling to stay afloat amid the economic downturn. However, FirstBank has remained committed to providing products, services and initiatives that have been crucial in mitigating the adverse effects of Covid-19 on individuals and households.
Speaking on the event, the group head, marketing and corporate communications of FirstBank Folake Ani-Mumuney said: “Being woven into fabric of the society for over 127 years means that we provide value, support and innovation-driven solutions for our stakeholders regardless of the challenges of the pandemic.
“Our commitment to nation-building is anchored partly on our thought leadership role designed to relentlessly drive growth and scale for all through engagements that showcase versatile subject matter experts endowed with expertise, knowledge and valuable insights. The webinar provides a platform for cross fertilization of ideas and opportunities to learn and grow. Nigeria is a country rich in human and natural resources and these have helped in the reforms and resilience reflected in the economy in 2021.”