The Group Chief Executive Officer of United Capital Plc, Mr. Peter Ashade, has affirmed that ongoing reforms by the Central Bank of Nigeria (CBN) are successfully reshaping the structural foundations of the Nigerian economy, delivering greater financial market stability and supporting the appreciation of the naira.
Ashade made the remarks on Wednesday during the United Capital Investor Relations Connect held in Lagos, themed “Decoding Performance: Insights into United Capital’s Growth Drivers and Outlook.”
Addressing stakeholders, the United Capital Group CEO emphasised that policy measures targeted at correcting long-standing structural imbalances are unlocking significant opportunities across multiple sectors of the economy.
“A few weeks ago, they ranked Nigeria as the best-performing stock market in the entire world in dollar terms, so people are taking positions. What are you doing? I look for opportunities within the problems, and I take a position; that is what I think every one of us should do,” Ashade stated.
Providing further macroeconomic insight, the Group Chief Economist of United Capital, Mr. Ayodele Akinwunmi, projected that the naira would strengthen to approximately ₦1,360 to the dollar by the end of 2026, representing a year-on-year appreciation against the greenback.
He attributed the positive outlook largely to reduced foreign exchange demand arising from growing domestic refining capacity.
“If a sector that used to contribute about 25 to 30 per cent of foreign exchange utilisation refined petroleum products now has local capacity, that demand has been removed. By the law of demand and supply, lower demand for foreign exchange means the value of the naira will appreciate,” Akinwunmi explained.
Akinwunmi also highlighted the broader benefits of structural reforms that discourage the export of raw materials, noting that such policies create substantial value-addition and job-creation opportunities within Nigeria.
“We should be optimistic about the Nigerian economy due to structural policy changes opening up opportunities across various sectors. The government says that we should not be exporting raw materials, and that is a huge opportunity for us to add value to the things that we produce here in Nigeria. When we export crude, we are exporting jobs,” he added.
United Capital expressed confidence that sustained implementation of these reforms would continue to support market stability, attract investment, and drive long-term economic growth.