In a powerful endorsement of Nigeria's current economic trajectory, renowned business mogul Femi Otedola has publicly commended President Bola Ahmed Tinubu and Central Bank Governor Yemi Cardoso for their strategic economic reforms.

Drawing from over three decades of investment experience, Otedola highlighted Tinubu's exceptional leadership and deep understanding of Nigeria's complex economic landscape. His rare public statement underscores the significant shifts happening in the nation's financial sector.

Central to Otedola's praise is the Central Bank's disciplined monetary policy, which has already shown tangible results. The country's inflation rate has begun to slow, and external reserves have climbed to a seven-year high, surpassing $46 billion. These developments signal a return to orthodox economic management after years of inconsistent policies.

The business leader was particularly enthusiastic about the banking sector recapitalization, arguing that stronger financial institutions are crucial for Nigeria's economic growth. He even proposed raising the minimum capital requirement for international banking licenses from ₦500 billion to ₦1 trillion, emphasizing the need for robust, well-governed banking systems.

FirstBank's successful completion of its ₦500 billion capital raise exemplifies the type of institutional strengthening Otedola advocates. The bank, part of First HoldCo Plc, has met the Central Bank of Nigeria's requirements and demonstrates a commitment to expanding and consolidating its financial capabilities.

Otedola's most striking statement was his unequivocal declaration that Yemi Cardoso is 'the best Central Bank Governor Nigeria has ever produced', praising his calm, disciplined approach to monetary policy. This endorsement from a respected business figure could significantly boost public confidence in the current administration's economic strategy.

As Nigeria aims to become a $1 trillion economy, Otedola's perspective offers a compelling narrative of hope and strategic transformation. His support suggests that the country is not just recovering, but potentially positioning itself for unprecedented economic growth and stability.