Economic stability, tax reforms to shape 2026 -Lukefield Finance CEO

Economic stability, tax reforms to shape 2026 -Lukefield Finance CEO

The Chief Executive Officer of Lukefield Finance Company, Mrs Omotayo Asupoto, has said that Nigeria’s economic outlook for 2026 was optimistic, with stability, tax reforms and fresh opportunities set to define the operating climate.

She stated this in an interview with commemorate the seventh anniversary of the company, noting that while many Nigerians have yet to feel the impact of the ongoing economic improvements, the fundamentals point to steady progress.

 Asupoto said this as the inflation rate dipped for the sixth consecutive month to 18.02 per cent, nearer the 15 per cent target of the Federal Government.

 She said, “The economy is picking up. We’ve seen a stable naira, and inflation is also slowing. However, Nigerians are not feeling that impact yet.”

Sharing her thoughts on the current economy, Mrs. Asupoto explained that economic recovery takes time. “Well, you’re right to say Nigerians are not feeling it, because we all go to the market and we know. But you see, these things take time. The economy is now moving in the right direction.”

 According to her, several indicators are showing improvement. “Interest rates, which were at an all-time high a few months ago, have stabilised, and we are seeing them come down. The same goes for foreign exchange; the exchange rate has more or less stabilised.”

 She explained that investor behaviour is shifting as a result of this stability. “In fact, what we found was that when the exchange rate was going up, people were moving from naira deposits or investments into dollars. But now that there’s stability, people are coming back to say, ‘Oh, please, I want to come back into naira.’”

 On infrastructure and growth, the Lukefield CEO said government efforts would further improve the economy. “All these things, along with the infrastructure the government is trying to improve upon, will help. At the end of the day, I believe things will get better.”

 Mrs Asupoto added that signs of recovery are already visible in business activity. “We’ve also seen this reflected in the kinds of transactions we’re seeing from our customers. This time last year, the oil and gas industry wasn’t really active, but now we’re seeing that they’re getting more LPOs; people like subcontractors to the big oil and gas companies. So, we’re seeing that improvement.”

 She expressed optimism about further progress in the coming months. “Our own take is that we’ll see further improvement. At the last Monetary Policy Committee meeting, the MPR rate was dropped by 0.5. So, we believe it may even drop further in the next couple of meetings. We’re also reacting accordingly in terms of interest rates and all that. So, I believe things are going to improve. We just need to be more patient.”

Looking ahead, the Lukefield boss said 2026 holds great promise for individuals and businesses who are prepared. “The outlook for 2026, I think, is promising. It’s promising, and everybody should go into it with enthusiasm and an open mind, because a lot is happening. People should not miss out just because they want to close their minds or ignore what’s coming.”

 She also highlighted the importance of upcoming fiscal changes. “The tax reforms are real, and they are coming. We’ve had several questions from our customers. How is this going to work? What’s going to happen? There are also a lot of misconceptions, and the tax authorities are trying to explain them. But I think everyone will need to align and be ready to be answerable.”

 According to her, accountability will be a key factor in the new business environment. “Accountability, yes, accountability is going to be very key next year. But I also believe that if you are accountable and plan to do things properly, it will be a year where people will thrive. Honestly, it’s a year where people will thrive.”

 Mrs. Asupoto noted that the upcoming tax reforms would create new professional opportunities. “Even the tax reform that’s coming, have you thought of the kind of opportunities it’s opening up for tax experts and accountants? People who didn’t use to do audits before may not go to EY or KPMG, but they’ll look for local firms and say, ‘Please, help me put my books together. Let me have something I can show the tax authorities.’ Those are real opportunities emerging in that space.”

She added that the same trend of growth is visible in the agricultural sector.

 “If you look at agriculture, there’s also a lot happening there, and the government is trying to support it. People should position themselves wherever they want to be in the value chain to be able to do business.

 “In the oil and gas sector, a lot is happening. We’re seeing people who were subcontractors to subcontractors now getting LPOs directly. Because they don’t have all the security in the world, they can’t always go to the banks. At least in our own space, we’re seeing some of them come to us for financing. We look at it, build our models around the funding and where the money is coming from, and we’re able to handle it,” she said.

 Summing up her outlook for the coming year, Mrs. Asupoto urged Nigerians and businesses to embrace integrity and compliance. “So, I see a lot happening next year. Everybody should position themselves, but more importantly, position themselves to do things properly. It’s no longer the time of ‘where there was no law, there was no sin.’ Now that there is a law, people should simply abide.”

 Lukefield Finance is licensed and regulated by the Central Bank of Nigeria.

culled from punch