President Bola Tinubu has held a private dinner with billionaire businessman and Chairman of First HoldCo Plc, Femi Otedola, in Paris, France, as the President concluded an extended stay in Europe.
Otedola disclosed the meeting in a post on X on Tuesday, September 29, accompanied by a photograph of himself with Tinubu.
The businessman used the occasion to express support for the President’s economic policies, saying the administration’s reforms had placed Nigeria on what he described as a path towards sustainable economic growth.
Otedola highlighted several developments he associated with the government’s economic programme, including the performance of the Nigerian Exchange, increased foreign direct investment, foreign exchange market stability and the inclusion of Nigerian companies in the FTSE Russell Frontier 50 Index.
He also cited Nigeria’s foreign reserves, which he said stood at about $55bn.
Otedola described the reforms as “bold and forward-thinking” and expressed his support for Tinubu, saying he remained proud of the President.
His comments represent the businessman’s assessment of the administration’s economic performance and come amid continuing debate over the impact of the government’s reforms on businesses, households and investors.
The private dinner took place as Tinubu’s extended stay in Europe was drawing to a close.
The President departed Nigeria on August 30 for what the Presidency initially described as a three-week working vacation. He first travelled to London before moving to Paris, where he continued a series of official and private engagements.
During his stay in France, Tinubu met French President Emmanuel Macron for a private dinner at the Élysée Palace on September 17. The State House said the meeting reflected the longstanding relationship between Nigeria and France and the two countries’ interest in strengthening bilateral cooperation.
Tinubu also held engagements with business leaders during his stay in Paris, including Otedola and Vincent Bolloré of the Bolloré Group, according to the Presidency.
The President’s prolonged absence from Nigeria had attracted political and public attention, particularly after he did not attend the 81st United Nations General Assembly in New York.
Vice-President Kashim Shettima represented Nigeria at the UN gathering and delivered the country’s national statement.
The Presidency had maintained that Tinubu continued to discharge his responsibilities while abroad and that his absence from the UN General Assembly would not diminish Nigeria’s diplomatic standing.
On Tuesday, the Presidency confirmed that Tinubu had departed Paris for Nigeria after completing the extended working vacation. His aircraft was expected to arrive in Lagos, where he was scheduled to attend events connected with the country’s October 1 Independence Day celebrations.
The President’s return to Nigeria also comes ahead of further political engagements, with the Presidency saying he would hold meetings with political leaders and associates in Lagos.
For Otedola, the Paris meeting provided an opportunity to publicly restate his view of the direction of the Nigerian economy.
His assessment comes at a time when the government’s economic reforms remain the subject of competing assessments among businesses, investors, political groups and ordinary Nigerians, particularly over inflation, living costs, fuel prices, exchange-rate stability and investment.
The meeting between the President and one of Nigeria’s most prominent businessmen therefore adds another high-profile engagement to Tinubu’s extended European visit, while Otedola’s remarks have placed renewed attention on the government’s economic reform agenda.
