Otedola hails Tinubu’s economic reforms, cites $55bn reserves, NGX highs

Abdullateef Fowewe

Nigerian billionaire and FirstHoldCo PLC Chairman, Femi Otedola, has praised President Bola Tinubu’s economic reforms following a private dinner with the president in Paris on September 29, 2026.

In a post on X, Otedola shared a photo of himself with Tinubu and credited the president’s “bold and forward-thinking reforms” with putting Nigeria’s economy “firmly on a path of sustainable growth.”

He 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 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.
I remain proud of you, Mr President!”

The president’s spokesman, Bayo Onanuga reacted to the post by recalling that Otedola had also visited Tinubu in France in 2022, before the 2023 presidential election.

Onanuga wrote, “In 2022, before Nigeria’s Presidential election in February, 2023, Femi Otedola also visited President Tinubu in France. Four years after, he testified on the gains that 3 years of Tinubu stewardship has brought to the Nigerian economy.”

He then quoted Otedola’s own words on the economy, “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.”