Billionaire businessman and Chairman of First HoldCo Plc, Femi Otedola, has praised President Bola Ahmed Tinubu’s economic reforms, describing them as bold measures that are steering Nigeria towards sustainable growth.
Otedola made the remarks after meeting Tinubu at a private dinner in Paris, France, sharing a photograph of the encounter on social media on Tuesday.
The businessman highlighted what he described as positive developments in Nigeria’s financial markets and broader economy, including the inclusion of Nigerian companies in the FTSE Russell Frontier 50 Index, the performance of the Nigerian Exchange (NGX), increased foreign direct investment and developments in the foreign exchange market.
He also cited Nigeria’s foreign reserves, which he put at about $55 billion, as another indication of improving economic conditions.
Otedola wrote: “At a private dinner in Paris yesterday evening with His Excellency, President Asiwaju Bola Ahmed Tinubu, whose bold and forward-thinking reforms have put our economy firmly on a path of sustainable growth.
“The results are increasingly evident: top Nigerian companies are now included on the FTSE Russell Frontier 50 Index, the NGX is at historic highs, foreign direct investment has increased, and there is renewed economic confidence, a unified and more stable foreign exchange market, foreign reserves standing strong at about $55 billion, and so much more.
“I remain proud of you, Mr. President! I …F. Ote.”
The meeting came as Tinubu returned to Lagos after his European trip, during which he held a series of official and private engagements.
Otedola’s First HoldCo was among the Nigerian companies included in the FTSE Russell Frontier 50 Index, effective September 21.
The businessman has previously spoken about the significance of the development, particularly its implications for Nigeria’s capital market and financial sector.
