Femi Otedola Backs Tinubu's Policies Amid Public Criticism

Femi Otedola, a billionaire businessman and Chairman of First HoldCo Plc, shared a photograph with President Bola Tinubu after a private dinner in Paris on September 28. In his post, Otedola expressed support for Tinubu’s economic policies, citing positive developments such as the inclusion of Nigerian companies in the FTSE Russell Frontier 50 Index, the performance of the Nigerian Exchange, increased foreign direct investment, and improved economic confidence.

He also mentioned that Nigeria's foreign reserves stood at approximately $55 billion. However, his supportive message faced skepticism from some Nigerians, who criticized his assessment of the economic gains attributed to Tinubu's reforms.

Following the backlash, access to the comment section of Otedola's post was restricted, limiting public discourse on the matter. Additionally, Otedola recently increased his stake in Nigeria's most valuable banking stock by acquiring 680.8 million shares, raising his ownership to 20.42%, valued at roughly N1.05 trillion.