Stanbic IBTC CEO speaks on the Made in Nigeria brand

In a recent interview with CNBC Africa, Sola David-Borha, the CEO of Stanbic IBTC Holdings, delved into the theme of the 22nd Nigeria Economic Summit, 'Made in Nigeria.' David-Borha expressed her belief that the concept of making things locally in Nigeria has gained significant traction in the country. She highlighted that the economic recession has underscored the need for a shift in mindset towards utilizing Nigeria's resources and services to their fullest potential. The CEO emphasized the importance of both the public and private sectors working together to encourage policies that promote local production. She noted that the current climate has heightened awareness among Nigerians about the necessity of supporting and promoting the 'Made in Nigeria' initiative. David-Borha stressed that leveraging local resources and services, as well as supporting businesses that are increasingly looking inwards, is crucial for driving economic growth and recovery. The CEO outlined the strategic plan of Stanbic IBTC Holdings to support the 'Made in Nigeria' objective, which includes providing financing for infrastructure projects, agriculture, and the fast-moving consumer goods (FMCG) sector. Additionally, she highlighted the bank's efforts to attract investors to the country by showcasing Nigeria as a land of opportunities with promising long-term prospects. While acknowledging the challenges that come with the 'Made in Nigeria' campaign, David-Borha emphasized the importance of finding solutions and supporting local businesses. She pointed out that Stanbic IBTC prides itself on offering financial solutions and assisting SMEs through capacity building and training programs. By nurturing small businesses and helping them grow, the bank aims to contribute to expanding the local manufacturing industry and fostering economic development in Nigeria.