During the Nigeria-India Presidential Roundtable and Conference recently held in India, Mr. Tony Elumelu, Group Chairman of Heirs Holdings, urged the Indian private sector to grab the chance to invest in Nigeria.
The Nigerian High Commission in India, the Confederation of Indian Industry (CII), and the Nigeria-India Business Council (NIBC) organized the Presidential roundtable and conference.
Elumelu, who has built pan-African financial services businesses and now controls significant power and natural resources operations in Africa, was in Delhi for the G20 Summit, both as an invitee of President Bola 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 talk, Elumelu asked Indian private sector executives to join him and other global investors in gaining access to Nigeria’s fast-developing economy, which is home to 20% of Africans and one of the world’s largest consumer populations.
“This is an excellent time to invest in Nigeria. As a private sector investor in Nigeria, I can attest to the opportunity represented by the companies in our Group’s investment portfolio. I believe you can benefit from our track record and success as well,” Elumelu said.
Following Tinubu’s commitment to create a conducive climate for foreign investment, Indian investors pledged approximately $14 billion in investments to Nigeria at the Presidential roundtable.
“Nigeria is a massive market with over 200 million people and the continent’s largest economy.
“Most importantly, the population is more than 200 million people; the population demography is exciting.” We have a generation of young people who are there to consume, as well as people who are clever, enthusiastic, and diligent, and who provide the human capital that investors require to power their businesses.”
Elumelu, together with Sunil Mittal, Founder of Bharti Enterprises (Owners of Airtel), was recently named co-chair of the Business 20 (B20) Action Council focusing on African economic integration.
The B20, which was established within the G20 in 2010, is made up of corporate business businesses and organizations and acts as the official venue for discussion between the G20 and the global business community.
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