RMB Nigeria Hosts Economic Forum On Navigating Nigeria’s Reform Landscape
Rand Merchant Bank Nigeria (RMB), a leading corporate and investment bank, convened business leaders, policymakers, and financial experts for an exclusive Economic Forum, addressing the complexities of Nigeria’s reform landscape.
Held at The Wheatbaker Hotel, Ikoyi, the event, themed “Beyond the Change: Steering Through Nigeria’s Reform Complexities,” provided a platform for critical discussions on macroeconomic trends, financial markets, taxation, digital finance, infrastructure, and risk management.
CEO of RMB Nigeria, Bayo Ajayi, highlighted the opportunities presented by the government’s economic reforms, emphasizing that businesses must adapt to thrive. He noted that policies such as the liberalization of the exchange rate and tax reforms could catalyze investment and long-term economic stability.
“The liberalization of the exchange rate has improved access to dollars, reduced interest rates reflecting market prices, and enabled investment opportunities for investors,” Ajayi stated.
“Secondly, the tax reform, which aims to reduce rates from 30% to 25%, will encourage business growth and attract more foreign direct investment into the country, strengthening the macroeconomic landscape. As the current administration continues to drive economic reforms, we expect these policies to have a positive impact on the economy.”
A key discussion at the event focused on strategic business positioning amidst policy shifts, moderated by Samantha Singh-Jami, RMB Research for Africa. Panelists including Dr. Christian Ebeke, IMF Resident Representative for Nigeria; Mr. Kenneth Erikume, Partner at PwC; Mr. Deepak Bhojak, Group Treasurer at Tolaram Group; and Mr. Tilewa Adebajo, CEO of The CFG Advisory, explored how businesses can navigate policy changes while maintaining profitability.
Dr. Ebeke noted that the removal of fuel subsidies played a crucial role in stabilizing Nigeria’s economy, stating that, “The impact of government reforms is very clear. It has resulted in improvements in the current account, a reduction in the debt ratio, increased Foreign Direct Investment, and greater financial stability compared to previous years.
The conversation extended into Nigeria’s digital transformation and risk management, led by, Dean of Lagos Business School, Prof. Olayinka David-West, at Pan-Atlantic University.
Experts including Mrs. NgoverIhyembe-Nwankwo of NIBSS, Dr. Femi Ogunseinde of Ministry of Finance Incorporated (MOFI), Mr. Tokunbo Taiwo of Digital Jewels Africa, and Mr. Ifeyemi Ifekoya, Chief Information Security Officer at RMB Nigeria, examined the risks and opportunities associated with emerging technologies such as Artificial Intelligence and Blockchain Technology.
Mrs. Ihyembe-Nwankwo identified cybersecurity as a pressing concern in the financial ecosystem, emphasizing that while AI and blockchain offer significant advantages, they also introduce security risks that must be proactively managed. Dr. Ogunseinde echoed similar concerns about digital infrastructure gaps, stressing the need for financial resource mobilization to address Nigeria’s broadband challenges.
“There are significant headwinds. On the physical side, there are major infrastructure gaps. Nigeria remains far from its penetration target—currently at 40-45% compared to the 70-80% goal. Additionally, the high cost of broadband provision continues to be a challenge,” he noted.
As Nigeria continues to navigate the complexities of economic reforms, the RMB Nigeria Economic Forum provided a timely platform for industry leaders and policymakers to exchange insights and explore practical strategies for adapting to the evolving business landscape. With expert perspectives on policy shifts, financial markets, and digital transformation, the discussions reinforced the importance of agility and innovation in driving sustainable growth.
About RMB Nigeria Limited
RMB Nigeria Limited, a member of the FirstRand Group, is a leading African Corporate and Investment Bank, offering its clients innovative, value-added advisory, funding, trading, corporate banking and principal investing solutions.
Olusola Akintonde
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