Otedola Commends Tinubu’s Economic Reforms, Urge CBN To Raise Banks’ Capital To ₦1 Trillion

Billionaire businessman Femi Otedola has praised the economic direction of the Tinubu administration, saying the government’s difficult reforms are beginning to lay a solid foundation for long-term growth.

Speaking on Nigeria’s economic outlook, Otedola said President Bola Ahmed Tinubu has demonstrated rare courage and clear-headed leadership by pushing through policies many previous administrations avoided.

According to him, the reforms, though painful, are already attracting international recognition and helping to reposition Nigeria on a more credible economic path.

Beyond fiscal reforms, Otedola also applauded Central Bank of Nigeria Governor, Yemi Cardoso, for what he described as a disciplined and professional approach to monetary policy. He credited Cardoso with restoring confidence in the foreign exchange market and helping to rein in inflation by returning the CBN to orthodox monetary practices.

Otedola pointed to the strengthening of the naira based on market fundamentals and the growth of Nigeria’s external reserves to over $46 billion, the highest level in seven years, as clear signs that investors are regaining trust in the country’s economic management.

“I say this without hesitation: Yemi Cardoso is the best Central Bank Governor Nigeria has ever produced,” Otedola said. “His calm approach, discipline and commitment to doing what is right rather than what is popular are exactly what a serious economy requires.”

He urged the CBN governor to remain focused, adding that Nigeria is gradually turning a corner and that investors who believe in the country will continue to back reforms aimed at building a stronger, more resilient economy at home and across its operations in Africa and other international markets.