Chairman, Heirs Holdings Group, Tony Elumelu, has urged the Indian investors that this is the best time for them to embrace the opportunity of investing their businesses in Nigeria.
Elumelu made this known during the Nigeria-India Presidential Roundtable and Conference on Wednesday, September 6th, 2023, in New Delhi, India.
The conference was jointly organised by the High Commission of Nigeria to India, the Confederation of Indian Industry (CII), and the Nigeria-India Business Council (NIBC).
At the roundtable hosted by President Bola Tinubu, the Indian investors pledged investments of nearly $14 billion to Nigeria, following the president’s commitment to create the enabling environment for foreign investments to thrive.
During a keynote address, Elumelu highlighted the huge benefits in the most populous African country, which should drive the Indians to invest in Nigeria.
“This is the time to invest in Nigeria. I speak as a private sector investor in Nigeria, and the companies in our Group’s investment portfolio demonstrate the opportunity. I believe you also can take advantage of our track record and success,” Elumelu said.
Elumelu, who has built pan-African financial service businesses and controls significant power and natural resources operations, all focused on value creation in Africa, was in Delhi for the G20 Summit.
He visited India both as an invitee of President Tinubu and as co-chair of the Business 20 (B20) Action Council focusing on African economic integration, the private sector counterpart to the G20.
Speaking further, the United Bank of Africa CEO said, “Nigeria is a huge market; over 200 million people with the largest economy on the continent.
“Most importantly, the population is not just over 200 million people; the demography of the population is exciting. We have a cohort of young people who are there to consume, and we also have people who are intelligent, energetic, hardworking, who provide the human capital that investors need to drive their businesses.”
