Tony Elumelu at Nigeria-India Business Council (NIBC) in India
.... I was in Delhi at the invitation of Asiwaju Bola Ahmed Tinubu and as co-Chair
... says This is the time to invest in Nigeria
Read Tony Elumelu statement below:
"I spoke at the Nigeria-India Presidential Roundtable and Conference, organised by the High Commission of Nigeria to India, in collaboration with Confederation of Indian Industry (CII) and the Nigeria-India Business Council (NIBC).
I was in Delhi at the invitation of Asiwaju Bola Ahmed Tinubu and as co-Chair of the Business 20 (B20) Action Council focusing on African economic integration, the private sector counterpart to the G20.
Being in Delhi allowed me to galvanise global business leaders in the economic integration and inclusive development in Africa and beyond.
I shared my views as a businessman, who operates in 24 countries, across 4 continents, and an investor who invests in entrepreneurs across all 54 African countries - reinforcing the potential of Nigeria and Africa.
Nigeria boasts a massive market, with over 200 million people and the largest GDP on the continent.
What’s even more exciting is the youth demography, which comprises 65% of our population. We have intelligent, energetic, and hardworking young people—an incredible source of human capital, that investors need to drive their businesses. This presents a tremendous investment opportunity!
At Heirs Holdings, we invest in power, through Transcorp Group and I shared with my friends that the return on investment in the power sector can be long – it needs patience. However, at Transcorp Group, we achieved a ground-breaking record, not only did we make profit, but we also paid dividends to shareholders in the second year of investment. This is, truth be told, unusual in the Nigerian power sector, which tells you that when it comes to investment, while some see challenges, others see opportunities, and they harness them for good. I like power, yes for returns, but just as importantly, it is critical for our country’s success, as a society and nation.
To my fellow business leaders from India, Nigeria is a profitable, rewarding investment destination.
This is the time to invest in Nigeria. I speak as a private sector investor in Nigeria, a successful investor - the companies we Heirs Holdings have invested in, from Power, to Hospitality, Healthcare, Technology, Banking & Insurance sectors, are all doing well. You too can take advantage of the opportunities Nigeria has to offer.
As true Africapitalists, we believe in collaboration for mutual prosperity. We invest globally and we welcome you to invest in our country. There is so much to do in Africa. We need capital to drive infrastructure, as well as to drive businesses that will spur the employment our economy needs. We cannot do it alone; we need collaboration. There is so much between India and Nigeria, and let us business people build upon the examples of our political leaders, taking tough decisions, that will reap returns for our human capital.
I look forward to collaborating, with the global business community and international development partners, as they explore the investment opportunities in Nigeria."
One more photo below.
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