During the recent Nigeria-India Presidential Roundtable and Conference held in India, Mr. Tony Elumelu, Group Chairman of Heirs Holdings, urged the Indian private sector to take advantage of 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) collaborated to organise the presidential roundtable and conference.
Elumelu was in Delhi for the G20 Summit as a guest of President Bola Tinubu and as co-chair of the Business 20 (B20) Action Council with a focus on African economic integration, the private sector counterpart to the G20. Elumelu has built pan-African financial service businesses and currently controls sizeable power and natural resource operations, all focused on value creation in Africa.
Elumelu asked Indian private sector executives to join him and other international investors in accessing the quickly developing Nigerian economy, which is home to 20% of Africans and one of the largest consumer populations globally, during a keynote speech.
The moment to invest in Nigeria is now. I am a private investor in Nigeria, and the businesses represented in the investment portfolio of our Group show the potential. I think you can benefit from our success and track record too,” Elumelu remarked.
Following the Nigerian president’s resolve to foster an atmosphere that will allow for the success of foreign investments, Indian investors committed investments to Nigeria totaling close to $14 billion during the Presidential roundtable held by Tinubu.
“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”
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 organisations and serves as the official platform for dialogue between the G20 and the global business community.
