In a thought-provoking address at a summit organized by FirstBank Nigeria, Dr. Adesola Adeduntan, the Chief Executive Officer (CEO) of FirstBank Nigeria Ltd., emphasized the critical need for businesses to actively adjust their strategies in response to the evolving landscape of government policies in 2024.
Speaking at the summit themed “Nigeria Economic Outlook 2024: Current Realities and Prospects,” held in Lagos, Adeduntan urged businesses to take decisive action, advocating for a positive and forward-looking approach over explanations and excuses for inaction.
He underscored the importance of tapping into the opportunities presented by the Nigerian economy to thrive and potentially gain significant benefits.
Expressing optimism about the economic outlook for 2024, Adeduntan referenced the recently signed appropriation bill by President Bola Tinubu.
With a record proposed spending of N28.7 trillion, including a substantial allocation for capital expenditure, he highlighted the potential for economic stimulus that would benefit serious market players.
Adeduntan also emphasized the crucial role of proactive business adaptation in response to changing government policies and priorities. He stressed that taking action is historically favored over eloquently explaining inaction, urging businesses to focus on finding ways to succeed rather than dwelling on the possibility of failure.
The CEO reiterated FirstBank’s commitment to supporting businesses and assured them of being a key ally in their journey.
He stated, “We remain very committed to supporting your businesses, and you can always count on us; we see ourselves as your trusted business advisor, the institution you can always count on, either in terms of financing or providing business advice.”
Dr. ‘Biodun Adedipe, Chief Consultant at B. Adedipe Associates Ltd., echoed the sentiment of proactive business growth.
He urged businesses to be ambitious in their growth plans, highlighting the risk of falling behind if they grow slower than the overall economic pace. Adedipe emphasized the importance of aligning growth expectations with the broader economic trajectory, cautioning against growing slower than the rate at which the economy is expanding.
