UBA Lights Up Lagos, Projects Improved Economic Outlook for 2026

Kayode Tokede

It was glitz and glamour as the United Bank for Africa (UBA) Plc on Monday commenced the Christmas season with its annual lighting ceremony at its Marina headquarters in Lagos.

The event marked the commencement of the festive period, with messages of hope and optimism about Nigeria’s economic trajectory come 2026.

Speaking to journalists at the event, Group Managing Director and Chief Executive Officer, UBA, Mr. Oliver Alawuba, commended recent economic policy interventions by the federal government, while painting a picture of renewed confidence in the country’s financial landscape.

“We have seen a turnaround in the economy of this country,” Alawuba said at the ceremony.

He highlighted several positive indicators that had emerged in recent months, stating that inflation rates have declined, exchange rates have stabilised, and liquidity has improved significantly within the financial system.

Drawing from his recent address at the dinner organised by Chartered Institute of Bankers of Nigeria, Alawuba praised the collaborative efforts of monetary and fiscal authorities.

He particularly acknowledged the central bank governor and Minister of Finance and Coordinating Minister of the Economy for what he described as excellent work in changing the economy positively.

He pointed to tangible improvements in consumer welfare, stating that rice prices have fallen compared to the previous year.

These developments, he explained, stemmed from the coordinated implementation of multi-policy frameworks combining monetary and fiscal measures.

Alawuba said, “The economy is now on a solid ground.”

He added that GDP growth rates had shown improvement. He also referenced recent statements by the central bank governor indicating expectations of declining interest rates in 2026, which would further stimulate economic growth.

Looking ahead to next year, Alawuba’s message centred on hope.

“This Christmas is a season of hope. If we can continue on this trend, if the government continues to implement these policies, then things will be a lot better for Nigeria,” he told reporters.

The ceremony itself was more than a symbolic gesture.

Alawuba emphasised that the lighting represented UBA’s commitment to being “light unto the world, creating an environment of light, of hope, of joy, environment of love and sharing”.

Beyond the illumination of Marina, the bank announced plans to extend charity and gift-sharing activities to communities surrounding its headquarters, recognising those who have been part of the institution’s journey throughout the year.

For UBA’s customers, the bank said it was offering a range of discounts accessible via the company’s website.

According to Group Head of Marketing and Corporate Communications, UBA, Alero Ladipo, the discounts are designed to support customers’ during the festive season by easing financial pressure.

Ladipo said, “We think that it’s very important that people are happy over this season. They don’t feel stretched and we want to support people’s enjoyment.”

She encouraged customers to watch out for announcements on the discount programme.

She described the lighting ceremony as symbolic of the institution’s readiness to rethink, re-energise, and prepare for the coming year.

The lighting ceremony also served as a platform for acknowledging the bank’s expansive operations across the continent. UBA currently operates in 24 countries across four continents, and Alawuba confirmed that similar celebrations were being replicated across all its locations.

“UBA is one everywhere,” he stated. “Whatever you are seeing we are doing here, we are doing that in all the 24 countries where we have presence.”

During the ceremony, Alawuba expressed gratitude to various stakeholders who had contributed to the bank’s success.

He thanked the bank’s customer base spread across 24 countries and four continents, the bank’s 25,000 staff members and their families, and the board of directors led by Chairman Tony Elumelu.