Lagos: Nigeria’s economic future could be transformed through data-driven reforms, according to Afrinvest, as the investment banking group marks its 30th anniversary. During the celebration, Afrinvest’s Managing Director, Dr. Ike Chioke, emphasized the importance of research-backed reforms to unlock the nation’s economic potential and surpass the trillion-dollar gross domestic product milestone.
According to News Agency of Nigeria, the company’s anniversary event also featured the unveiling of the 20th edition of its flagship Banking Sector Report (BSR), themed ‘ACT-BOLD: Beyond a Trillion-Dollar Economy’. The report highlights seven sectors-agriculture, creatives/tourism and hospitality, technology, banking and finance, oil and gas, logistics, and domestic manufacturing-as key accelerators for economic growth, aiming to position Nigeria as a globally competitive economy.
Dr. Chioke reflected on Afrinvest’s three-decade journey of producing policy-shaping ideas and guiding stakeholders through economic challenges. “Our research has consistently shown that Nigeria’s fortunes are inseparable from global tides,” he stated, noting the significance of past banking reforms and financial crises in shaping the current economic landscape.
The BSR has historically spotlighted critical economic turning points, such as the 2009 banking sector collapse and the 2017 recovery phase. Chioke described the latest edition as a strategic framework for Nigeria’s future, encouraging the strategic harnessing of the identified sectors to position Nigeria alongside trillion-dollar economies like India and Indonesia.
The event was attended by policymakers, regulators, and industry leaders, who commended Afrinvest for consistently providing research-driven solutions to Nigeria’s economic challenges. Mr. Godwin Obaseki, Chairman of Afrinvest, represented by Prof. Osita Ogbu, praised the company’s legacy of resilience and innovation in Nigeria’s financial markets.
Obaseki highlighted Afrinvest’s role in landmark transactions, including the UBA and Standard Trust Bank merger in 2004, GTBank’s 350 million eurobond in 2007, and Dangote Cement’s N2.1 trillion listing in 2010. “Our legacy is not just in numbers but in impact,” he stated, affirming Afrinvest’s commitment to facilitating investments that build infrastructure and contribute to international market growth.
