FirstBank’s CEO expresses commitment to advancing power and infrastructure projects in Lagos
The Managing Director and Chief Executive Officer of FirstBank, Olusegun Alebiosu, has signalled the bank’s readiness to collaborate with the Lagos State government on key infrastructure projects. Alebiosu made this announcement during a courtesy visit to Governor Babajide Sanwo-Olu on Tuesday.
In his address, Alebiosu highlighted the critical importance of power infrastructure for Lagos, a state often seen as a beacon of progress. “Power infrastructure is crucial, especially because Lagos State is a place where people admire and emulate. We look forward to the framework that the Lagos State Government will set up, in addition to the many private investors, who will create massive power projects to reduce the cost of production,” Alebiosu stated.
He also underscored FirstBank’s commitment to supporting various special projects initiated by the Lagos State Government. “There are many special projects the Lagos State Government is doing, and FirstBank will continue to support the Lagos State Government to develop these projects. We can also achieve more employment opportunities, and tax revenue generation, amongst others. We look forward to Lagos State benefitting from these projects, and the entire Nigeria.”
Governor Sanwo-Olu, in his response, assured that his administration would maintain and strengthen mutually beneficial relationships with financial institutions, especially FirstBank. “We have a special space for FirstBank because we have identified relationships that have been mutually beneficial. Over the years, the Lagos State government’s banking relationship with FirstBank has created so much value and extreme economic movement. We will continue to nurture the relationship by giving the bank its rightful place as well as ensuring that FirstBank truly receives a decent amount of our business,” the governor affirmed.
This visit follows the recent confirmation of Olusegun Alebiosu as the substantive Managing Director and Chief Executive Officer of FirstBank in late June. This strategic alignment between FirstBank and Lagos State underscores the potential for significant advancements in infrastructure development, promising a future of enhanced economic growth and development for the region.
