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Access Holdings Plc says federal government reforms are driving macroeconomic stability and unlocking new opportunities for investment, business growth and sustainable economic development.
The Chairman of Access Holdings, Aigboje Aig-Imoukhuede, stated this at the group’s Annual General Meeting (AGM) in Lagos on Wednesday.
Aig-Imukhuede praised the government for implementing reforms that have stabilized the economy, stressing that improving conditions in the foreign exchange market and easing inflation are boosting business confidence.
According to him, stable economic conditions are crucial for investors and businesses to make informed decisions and plans for the future.
“The first and most important thing for any investor, national or international, is macroeconomic stability, that is, the ability to predict what will happen tomorrow.
“The stability achieved on the foreign exchange market is remarkable.
“Prior to about 24 months ago, price movements were 20-30% on a quarterly basis, making planning almost impossible,” he said.
He said the improvement in macroeconomic conditions has strengthened investor confidence and contributed to the positive momentum of the capital market.
“The fact that we can sit down, plan, talk to local and international investors and have a functioning market is significant.
“This is also what explains the stock market performance we are seeing today,” he said.
Aig-Imukhuede said the progress recorded should be recognised, adding that the reforms had laid the foundation for economic recovery and growth.
He, however, identified insecurity as a key challenge that must be addressed to unlock the country’s economic potential.
The President also urged the government to deepen reforms by creating a more favorable environment for entrepreneurs and productive enterprises.
“What I want the government to focus on is making life easier for those who are engaged in productive activities, not only big businesses but also small ones,” he said.
He highlighted the need for efficient public institutions and better service delivery, saying the next phase of reforms should focus on productivity, enterprise and business expansion.
“If the next step is taken, Nigerians and the world will remember this for a long time,” he said.
Speaking on lending opportunities in the economy, Aig-Imukhuede identified infrastructure development, large-scale agriculture and industrial projects as key sectors for bank financing.
Additionally, Access Holdings Plc Group Chief Executive Officer Innocent Ike said agriculture remains one of the country’s biggest growth opportunities, particularly if pursued on a commercial scale.
“We cannot achieve food security if we continue to practice agriculture predominantly at a subsistence level.
“Large-scale agriculture is what will make the country self-sufficient and increase export capacity,” he said.
Ike said investments in agricultural processing, warehousing and supporting infrastructure would be key to unlocking value across the sector.
According to him, big banks should focus on infrastructure and large projects, while microfinance banks, fintechs and other smaller lenders target small businesses and individuals.
“When you create that ecosystem, where big banks support big projects and smaller institutions support SMEs and individuals, you create the foundation for accelerated economic growth,” he said.
