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‘This is the best time to invest in Nigeria, Elumelu tells Indian investors

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Heirs Holdings Group Chairman, Tony Elumelu has urged the Indian private sector to seize the opportunity to invest in Nigeria, noting that “this is the time to invest in Nigeria.’

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

In his keynote address during the Nigeria-India Presidential Roundtable and Conference on Wednesday, Elumelu invited Indian private sector leaders to join him and other global investors in accessing the rapidly evolving Nigerian economy, home to 20 percent of Africans and one of the largest consumer populations globally.

“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 can also take advantage of our track record and success.

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The Nigeria-India Presidential Roundtable and Conference in New Delhi, India was jointly organized by the High Commission of Nigeria to India, the Confederation of Indian Industry (CII), and the Nigeria-India Business Council (NIBC).

“Nigeria is a huge market with over 200 million people and 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, and hardworking, who provide the human capital that investors need to drive their businesses,” Elumelu stated.

At the presidential roundtable, hosted by 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.

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.

(Edited by Oludare Mayowa; omayowa@globalfinancialdigest.com; Newsroom: +234 8033 964 138)

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