President Bola Tinubu has Urged Nigerian Banks to Provide Affordable Credit to Businesses and MSMEs to Boost Production, Investment and Job Creation.
Enugu Media Village (EMV), the Most Updated Online News Platform | September 9, 2026.
President Bola Ahmed Tinubu has called on Nigerian banks to play a more active role in transforming the nation’s economic stability into increased investment, production, employment and improved living standards.
The President made the call at the 19th Annual Banking and Finance Conference of the Chartered Institute of Bankers of Nigeria (CIBN) in Abuja, where he challenged financial institutions to redirect more capital towards productive sectors of the economy.
Represented by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, Tinubu said the next phase of Nigeria’s economic reforms must move the country from stability to broad-based prosperity.
He stressed that stronger bank balance sheets and profitability would have limited impact if businesses continued to struggle to access affordable credit.
According to the President, the banking industry must increasingly measure its success by the extent to which it supports the real economy, particularly businesses, manufacturers and millions of micro, small and medium-sized enterprises (MSMEs).
Tinubu said the recently concluded bank recapitalisation exercise should translate into increased capital formation and financing for Nigerian businesses rather than simply producing larger financial institutions.
The President also highlighted the Federal Government’s efforts to expand guarantees, risk-sharing mechanisms, blended finance and credit enhancement to encourage private-sector investment in productive activities.
He described economic stability as the foundation and prosperity as the destination, stressing that the ultimate objective of the reforms is to ensure that growth translates into jobs, higher incomes and better living conditions for Nigerians.
The CIBN similarly warned that Nigeria’s improving economic indicators must eventually be reflected in the daily lives of citizens through lower living costs, increased employment, higher incomes and access to affordable credit.
The development comes as Nigeria continues efforts to strengthen its financial system, attract investment and expand economic opportunities for businesses and young Nigerians.
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