Rand Merchant Bank Nigeria has thrown its weight behind the economic reforms of President Bola Ahmed Tinubu, saying the policies are vital to driving trade and investment growth across West Africa. The bank made this known at the recently concluded Global Trade Review (GTR) West Africa 2025 Conference held in Lagos.
Speaking during a panel session titled “Ghana, Nigeria and Beyond: Assessing Trade Prospects,” Head of Treasury and Trade Solutions at RMB Nigeria, Mr. Oluwaseyi Onanuga, praised the Nigerian government for its economic moves. He said the scrapping of petrol subsidies and the liberalisation of the foreign exchange market are bold steps towards achieving macroeconomic stability and restoring investor trust.
“The robust economic reforms initiated by Nigeria’s current administration are commendable steps towards advancing the economy,” Onanuga said. “The Central Bank of Nigeria’s financial sector reforms are strategic efforts to safeguard the economy and bolster investor confidence.”
He noted that these reforms are expected to create an enabling environment that will attract local and international capital, enhance fiscal discipline, and deepen financial market development.
The GTR West Africa 2025 event, held over two days, brought together more than 45 speakers and a wide range of stakeholders including trade experts, investors, development finance institutions, and policymakers. Themed “Financing Growth in West Africa’s Trade Epicentre,” the conference focused on strategies to boost regional trade and finance infrastructure under the African Continental Free Trade Area (AfCFTA) agreement.
Rand Merchant Bank Nigeria also projected that intra-African trade will see a boost in the near future, especially as regulatory systems and payment infrastructure continue to improve. Mr. Onanuga explained that more efficient systems will make it easier and less expensive to conduct trade across African countries, encouraging more inclusive participation from various economic actors.
“We expect stronger intra-African commerce, supported by enhancements to payment-settlement systems and regulatory frameworks,” he said. “These improvements will reduce transaction costs, concentration risk, and entry barriers, fostering a more inclusive and resilient trade ecosystem.”
RMB Nigeria also recently received recognition from DealMakers AFRICA for its advisory role in the exit of CardinalStone Partners from iFitness to Verod Capital Management. The recognition underscores the bank’s role in promoting investment deals and supporting private equity activity in Nigeria.
The bank continues to host roadshows and investment forums aimed at highlighting the vast opportunities in Nigeria’s growing sectors, including consumer goods, infrastructure, and technology. As part of its long-term strategy, RMB Nigeria said it remains focused on supporting both public and private sector initiatives that enhance economic development and regional integration.
With Nigeria’s policy reforms gradually taking root, financial institutions like Rand Merchant Bank are positioning themselves as critical enablers of growth, offering advisory, capital, and trade solutions to businesses aiming to thrive in the evolving West African economy.
