A former Chief Executive Officer of First Bank of Nigeria Limited, Dr. Adesola Adeduntan, has commended the economic policies of President Bola Ahmed Tinubu’s administration, describing them as pivotal to Nigeria’s economic recovery and long-term growth.

Speaking on the Broadcasting Corporation of Oyo State (BCOS) programme, Guest of the Month, Adeduntan said the economy is showing clear signs of revival, crediting the administration’s reforms for restoring investor confidence and stimulating productivity.

“There has been a rebound in the economy. One will lose his professionalism if he fails to state that the current government has done something on the economy. The economy is on an upward swing, and one cannot but acknowledge that the President and his team have done a yeoman’s job. The economy is coming back,” Adeduntan said.

The former banker, who led First Bank through major structural and digital transformations, noted that the Tinubu-led government has demonstrated commitment to stabilising key sectors, implementing projects that create jobs, and resetting the economic framework for sustainable development.

“The context is important. The timeline is important. I am aware that the government is working on the economy. To feel the impact, we need to double the growth,” he stated.
“The government is getting involved in projects that create jobs. But we need to keep our foot on the gas pedal. The growth spur is stronger, and what the government is doing is to reset the economy.”

Adeduntan, however, emphasised that sustaining the momentum will require policy consistency and continued investment in productive sectors to ensure that growth translates into improved living standards.

He also underscored the importance of bank recapitalisation to support the administration’s target of building a $1 trillion economy, stressing that stronger financial institutions are essential for economic expansion.

“To achieve the aspiration of the current government, the banks need recapitalisation. It requires stronger banks to achieve the vision. Recapitalisation is a metric to measure the strength and size of banks, and it is very positive for the economy. The economy requires stronger banks to sustain growth,” he said.

Adeduntan added that economic growth and banking sector strength are interdependent, noting that “without a growing economy, banks cannot grow — banks will thrive under a growing economy.”