President Bola Ahmed Tinubu and businessman Femi Otedola have held a private dinner meeting in Paris, France, with the billionaire investor subsequently highlighting developments in Nigeria’s financial markets and economy.
Otedola announced the meeting on Tuesday through his X account, posting a photograph of himself with President Tinubu.
In his message, the businessman praised the President’s economic policies and said the reforms were contributing to a more sustainable growth trajectory for the country.
Otedola wrote that he had attended the private dinner with Tinubu in Paris on Monday evening and described the President’s reforms as “bold and forward-thinking.”
He cited several developments which, in his assessment, point to increased confidence in Nigeria’s economy.
One of the developments mentioned by Otedola was Nigeria’s renewed presence in the FTSE Russell Frontier Market framework.
Six Nigerian companies — FirstHoldCo, GTCO, Zenith Bank, MTN Nigeria, Dangote Cement and Aradel Holdings — were included in the FTSE Frontier 50 following the index provider’s September review. The revised index became effective on September 21.
Otedola also pointed to the performance of the Nigerian Exchange and increased foreign investment as evidence of what he described as improving economic confidence.
Nigeria’s return to FTSE Russell’s Frontier Market classification followed a review of the country’s market-access conditions, including the transition to a shorter T+1 settlement cycle. FTSE Russell said its assessment found no material settlement, operational or funding problems that would prevent the reclassification.
The development has brought renewed international benchmark exposure to selected Nigerian listed companies, although index inclusion does not by itself guarantee a particular level of foreign investment or share-price performance.
Otedola’s comments therefore provide a positive assessment from one prominent Nigerian investor of the economic direction under Tinubu, while broader judgments about the reforms remain subject to economic data and market developments.
The Paris meeting adds to a series of engagements involving the President and prominent Nigerian business figures during his European stay.
