Tony Elumelu Urges Indian Investors to Seize Nigerian Opportunities

Investment pledges amounting to nearly $14 billion U.S. dollars were committed during the Nigeria-India Presidential Roundtable and Conference in New Delhi convened by H.E. President Bola Ahmed Tinubu.

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Heirs Holdings Group Chairman, Tony O. Elumelu C.F.R., urged the Indian private sector to seize the opportunity to invest in Nigeria during the Nigeria-India Presidential Roundtable and Conference on Wednesday, September 6th, 2023, in New Delhi, India.

The event was jointly organized by the High Commission of Nigeria to India, the Confederation of Indian Industry (CII), and the Nigeria-India Business Council (NIBC).

The conference witnessed pledges of nearly $14 billion in investments following President Bola Ahmed Tinubu’s commitment to create a conducive environment for foreign investments in Nigeria.

Elumelu, a prominent figure in pan-African financial services and power and natural resources operations, emphasized the potential for value creation in Africa.

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He spoke during a keynote address at the conference, inviting Indian private sector leaders to join global investors in accessing the rapidly evolving Nigerian economy, home to 20% of Africans and one of the world’s largest consumer populations.

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“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,” said Elumelu.

At the Presidential roundtable, hosted by H.E. President Bola Ahmed Tinubu, Indian investors pledged investments of nearly $14 billion to Nigeria, following the Nigerian president’s commitment to create the enabling environment for foreign investments to thrive.

“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,” noted Tony Elumelu.

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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 (Owners of Airtel).

Established in 2010 within the G20, the B20 comprises corporate business enterprises and organizations and serves as the official platform for dialogue between the G20 and the global business community.

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