Elumelu seeks indian investment in Nigeria, says it’s best time

Elumelu, who has built pan African financial service businesses and now controls significant power and natural resources operations focused on value creation in Africa, was in Delhi for the G20 Summit.

He attended the summit both as an invitee of the President of the Federal Republic of Nigeria, H.E. 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.

During a keynote address, Elumelu invited Indian private sector leaders to join him and other global investors in accessing the rapidly evolving Nigerian economy, home to 20% of Africans and one of the largest consumer populations globally.

He said, “This is the time to invest in Nigeria. I speak as a private sector investor in Nigeria, the companies in our Group’s investment portfolio demonstrate the opportunity. I believe you also can take advantage of our track record and success.”

At the Presidential roundtable, hosted by Tinibu, Indian investors pledged investments of nearly $14bn to Nigeria, following the Nigerian president’s commitment to create the enabling environment for foreign investments to thrive.

He 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”

Tony Elumelu, was recently named co-chair of the Business 20 (B20) Action Council focusing on African economic integration, alongside Sunil Mittal, Founder of Bharti Enterprises (Owner of Airtel).