Billionaire Femi Otedola has said Nigeria's economy is firmly on a path of sustainable growth because of the bold reforms initiated by President Bola Tinubu.
Otedola said this on X after a private dinner with Tinubu in Paris, where the President is currently on a working vacation.
He added, "The results are increasingly evident: top Nigerian companies now included on the FTSE Russell Frontier 50 Index, the NGX is 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!"
While in Paris, Tinubu announced an agreement signed in New York by the Minister of Solid Minerals Development, Dele Alake, and US Deputy Secretary of State Christopher Landau to deepen American investment in Nigeria’s mining sector and help unlock the potential of our mineral resources, estimated at about $700 billion.
The President also met with Vincent Bolloré of Bolloré Group and his executives for extensive discussions on expanding their investments in Nigeria across film, entertainment, fibre optics and the digital economy.
He said that through Canal+, MultiChoice, Universal Music and other businesses, they are looking to do more in Nigeria. "They see our country as the arrowhead of Africa’s cultural awakening, powered by Nollywood, Afrobeats and the growing global appetite for Nigerian culture.
"I want more of the value created by Nigerian talent to remain in Nigeria. More production at home. Greater investment in our local industries and infrastructure. More opportunities and jobs for our young people. I have made this case consistently, including on greater localisation by MultiChoice," he said.
Still in Paris, Tinubu witnessed the signing of Memoranda of Understanding between the Ogun State Government and DP World, one of the world’s leading ports and logistics operators, to develop the Ogun State Blue Marine Special Economic Zone and the Gateway Deep Seaport.
"The agreements before us bring together vision, expertise, capital and execution capacity. I particularly welcome DP World, one of the world’s leading port and logistics operators. I also acknowledge our financial advisers, Sky Capital, and all the investors and partners whose commitment has brought us to this important stage,” the President said.
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