Billionaire businessman Femi Otedola has expressed continued support for President Bola Tinubu, praising the administration’s economic reforms after meeting the President at a private dinner in Paris, France.
Otedola, Chairman of First HoldCo, shared a photograph of himself and Tinubu on Tuesday and said they had dinner together in Paris on Monday evening.
The businessman described Tinubu’s economic reforms as “bold and forward-thinking,” saying he believed the measures had placed Nigeria’s economy on what he described as a path towards sustainable growth.
Otedola pointed to several developments that he said showed the impact of the reforms, including the inclusion of Nigerian companies in the FTSE Russell Frontier 50 Index, strong performance on the Nigerian Exchange, increased foreign direct investment and renewed economic confidence.
He also highlighted what he described as greater stability in the foreign exchange market and Nigeria’s foreign reserves, which he said were standing at about $55 billion.
“The results are increasingly evident: top Nigerian companies now included on the FTSE Russell Frontier 50 Index, the NGX at historic highs, increased foreign direct investment and renewed economic confidence, a unified and more stable foreign exchange market, foreign reserves standing strong at about $55 billion, and so much more,” Otedola wrote.
He concluded his message by expressing his continued confidence in the President.
“I remain proud of you, Mr. President!” he added.
The meeting took place as Tinubu continued his extended stay in Europe after leaving Nigeria on August 30 for what was initially announced as a three-week working vacation.
The President spent time in London before travelling to Paris, where he held engagements that included meetings with French President Emmanuel Macron and businessman Vincent Bolloré.
Tinubu is expected to return to Nigeria on Tuesday, with plans to spend Nigeria’s 66th Independence Anniversary in Lagos on October 1 before returning to Abuja.
Otedola’s comments come as the Tinubu administration continues to highlight developments in the economy, while its reforms remain a subject of public and political debate.
