Otedola Reacts To Lifting Of UAE Visa Ban, Discloses What It Would Do To Nigeria

Billionaire businessman, Femi Otedola has commended President Bola Tinubu for resolving the United Arab Emirates (UAE) visa ban on Nigerians.

Otedola opined that the effort by Tinubu to resolve the impasse between Nigeria and UAE shows the president’s strong leadership qualities.

He explained that those who understand business would appreciate the opportunities to be derived from lifting the visa ban.

The billionaire explained that restoring business relations between both countries had the potential ability to transform the stock exchange.

Speaking via a statement, Otedola said, “We must all commend Mr President for his shrewd diplomacy to finally resolve this matter.

“Only a leader who understands the importance of business would appreciate the enormous opportunities to be derived from restoring business relations between both countries.

“One of the understated benefits of this announcement is its potential ability to transform the stock exchange.

“Middle Eastern investors remain one of the most liquid across the globe and it has been a shame that outside of a few investments in Dangote Cement and Ecobank Transnational Incorporated, Nigeria has not been able to attract capital from those regions.

“Indeed, Asiwaju has demonstrated leadership and the difference in style is like night and day. Tinubu is leading from the front and his economic diplomacy which we pray he sustains, is going to drastically change the image of the country, unlock foreign investments into the country and improve Nigeria’s perception internationally.

“We must all join hands to support this administration and we must all start seeing things beyond our differences. Nigeria badly needs foreign exchange and this move by the President will help improve forex inflows into the country. It is worthy of commendation.”