How Prince Eludoyin is Shaping Nigeria’s Security and Power

In Nigeria’s power corridors, the most influential figures are seldom the ones standing at the podium. Sometimes they are the ones shaping decisions quietly from the shadows. Prince EOC Eludoyin, chairman of Paragon Holdings, has mastered that art. A longtime associate of President Bola Tinubu, he has steadily consolidated influence across the oil industry, political circles and the nation’s security apparatus.

Eludoyin’s reach became visible in early 2025. He acted as the primary architect behind appointing Bayo Ojulari to head NNPCL, outmanoeuvring rival candidates backed by other billionaire power brokers. That victory cemented his position as one of Tinubu’s most influential confidants.

But his expansion into security has drawn even more attention. Eludoyin successfully lobbied for the appointment of his relative, Famadewa, as special adviser on internal security. Within Abuja’s power corridors, Famadewa is now viewed as a top candidate to eventually succeed Nuhu Ribadu as National Security Adviser or replace Interior Minister Olubunmi Tunji-Ojo, who plans to step down to run for governor of Ondo State.

Eludoyin argues that economic strain directly drives social unrest and national insecurity. He uses his personal access to over 20 world leaders to lobby for international debt relief for developing nations. He is also spearheading a private sector initiative to attract over $10 billion in foreign direct investment from Chinese multinationals, explicitly tying infrastructure and manufacturing partnerships to stabilising Nigeria’s economy and neutralising security vulnerabilities.

For supporters, Eludoyin represents a private-sector actor capable of connecting political leadership with operational efficiency. Critics warn that the growing role of businessmen within sensitive state structures raises questions about transparency and accountability. Either way, his influence is undeniable. In Africa’s largest democracy, the man behind the curtain is becoming harder to ignore.