Billionaire businessman Femi Otedola has taken significant action on his social media platform, X (formerly Twitter), by restricting access to the comment section of a recent post. This move follows a wave of criticism from Nigerians who challenged his positive assessment of President Bola Tinubu’s economic reforms.
The controversy began after Otedola shared a photograph of himself with President Tinubu in Paris on Monday evening, September 28. In his accompanying message, the prominent investor lauded the administration’s economic direction, citing several developments he viewed as indicators of progress.
Otedola’s post highlighted the inclusion of Nigerian companies in the FTSE Russell Frontier 50 Index, the commendable performance of the Nigerian Exchange, an increase in foreign direct investment, and a general improvement in economic confidence. He also referenced the foreign exchange market and stated that Nigeria’s foreign reserves stood at approximately $55 billion.
Public Outcry and Otedola’s Response
Despite Otedola’s supportive message, many Nigerians on social media were unconvinced. The post quickly attracted a torrent of critical comments, with users questioning his portrayal of the economy and the real-world impact of the president’s policies on ordinary citizens.
In response to the growing public dissent, Otedola subsequently restricted the comment section on his post, preventing further users from contributing to the discussion. This action was noted by various media outlets and further fueled conversations online about the state of the nation’s economy and the perceptions of its influential figures.
Otedola, who recently increased his stake in First HoldCo Plc to 20.42%, making his ownership worth roughly N1.05 trillion, often shares his perspectives on national economic matters.