Otedola Meets Tinubu in Paris, says FG’s Reforms Have Put Economy on Sustainable Growth Path

Femi Otedola, chairman of First HoldCo Plc, says the economic reforms of President Bola Tinubu have put Nigeria on a path of sustainable growth.

Otedola spoke in a post on X on Tuesday after a private dinner with Tinubu in Paris, France.

“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,” 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 now included… pic.twitter.com/voqHkDBouB

— Femi Ote$ (@realFemiOtedola) September 29, 2026

The businessman said the results of the reforms are becoming increasingly evident, citing Nigeria’s return to the FTSE Russell Frontier Market classification, gains in the Nigerian Exchange (NGX), increased foreign direct investment and improved foreign exchange (FX) market stability.

He also pointed to Nigeria’s foreign reserves, which he said stood at about $55 billion.

“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 said.

Tinubu has been in Europe since August 30, when he left Nigeria for London to begin a working vacation before proceeding to Paris.

During his stay in France, the president met French President Emmanuel Macron and businessman Vincent Bollore, whose media group includes Canal+, Multichoice, and Universal Music Group, according to the presidency.

The presidency had said Tinubu extended his working vacation by a few days and was expected to return to Nigeria at the weekend.

Otedola, who became the group chairman of First HoldCo Plc in January 2024, is the largest shareholder in the company as the investor continues to increase his stake in an organisation described as Nigeria’s oldest financial institution.

In July, the investor, through his firm, Calvados Global Services Limited, acquired about 1.78 billion of First HoldCo shares valued at N222.2 billion, according to a regulatory disclosure.

First HoldCo was among the six Nigerian companies included in the FTSE Frontier 50 Index, effective September 21.

Otedola had described the inclusion as a “defining milestone” for the financial services group.