‘If Tinubu wrecked the economy, why is your bank recording record profits?’

Please fact-check me. When President Tinubu took office on May 29, 2023, Aliko Dangote had a net worth of $13.5 billion. After two years of Tinubu, Mr. Dangote's net worth is now more than double that at $27.8 billion.

The same or similar happened to Dr. Mike Adenuga Jr,… pic.twitter.com/GxqxaKsimS

— Reno Omokri (@renoomokri) April 7, 2025

Citing significant increases in the net worth of top Nigerian billionaires and record-breaking profits by major banks — including Peter Obi’s own Fidelity Bank — Omokri argued that the current economic indicators suggest growth, not collapse.

Please fact-check me. When President Tinubu took office on May 29, 2023, Aliko Dangote had a net worth of $13.5 billion. After two years of Tinubu, Mr. Dangote’s net worth is now more than double that at $27.8 billion.

The same or similar happened to Dr. Mike Adenuga Jr, Abdulsamad Rabiu, and Femi Otedola, who all saw their wealth grow by at least 25%.

Each of Nigeria’s top five banks made record profits this last financial year.

For instance, Guaranty Trust Holding Company (GT Bank), Nigeria’s largest bank by market share, made a profit of ₦1.1 trillion last financial year, up from ₦367.4 billion in 2023.

Meanwhile, Lagos State’s GDP has grown from $100 trillion under Buhari to $259 trillion under Tinubu.

My question, therefore, to Peter Obi, who went on Arise TV to claim that President Tinubu has wrecked the economy, is this: If Tinubu has destroyed the economy, how come your bank, Fidelity Bank Plc, made a record-breaking pre-tax profit of ₦385.2 billion for 2024, representing a 210% increase compared to the ₦124.3 billion recorded in 2023?

You see, Peter, even your own bank is testifying on President Tinubu’s behalf!

Reno Omokri