Business leader Femi Otedola met with President Bola Ahmed Tinubu during a private dinner in Paris, pointing to recent capital market metrics and foreign reserve gains as evidence that ongoing economic policies are yielding positive indicators.
The meeting occurred while President Tinubu continues his working visit to Europe, where he has been conducting official engagements and diplomatic discussions following his departure from Nigeria in late August.
During the engagement, Otedola pointed to a series of macroeconomic developments, including the inclusion of top Nigerian firms in the FTSE Russell Frontier 50 Index and record performance on the Nigerian Exchange (NGX). He also cited Central Bank data showing foreign reserves at about $55 billion, along with steps toward foreign exchange market unification, as signs of returning investor confidence.
The administration’s core economic moves—notably the removal of the petrol subsidy and the unyielding effort to unify exchange rates—have earned approval from foreign investors and international financial institutions seeking fiscal consolidation. Proponents argue these measures are critical to addressing long-standing fiscal deficits and building external reserves.
However, the structural adjustments continue to provoke sharp debate within Nigeria. Independent analysts and labour groups emphasise that macro-level capital market gains have yet to ease immediate pressures on household incomes, where food inflation and living costs remain significant challenges for millions of citizens.
President Tinubu is expected to return to Abuja shortly at the conclusion of his working vacation to resume official duties.
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