Eko Hot Blog reports that Tony Elumelu, the chairman of Heirs Holdings, a leading pan-African investment company, has urged Indian investors to seize the opportunity to invest in Nigeria.
Elumelu made the call during the Nigeria-India Presidential Roundtable and Conference 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).
“This is the time to invest in Nigeria,” Elumelu said. “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.”
Elumelu pointed to Nigeria’s large population, young workforce, and growing economy as reasons why investors should be interested in the country.
“Nigeria is a huge market, with over 200 million people,” he said. “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 also highlighted Heirs Holdings’ commitment to Africapitalism, a philosophy that sees the private sector as the key enabler of economic and social wealth creation in Africa.
“Heirs Holdings is inspired by Africapitalism,” Elumelu said. “Driven by this philosophy, we invest for the long-term, bringing strategic capital, sector expertise, a track record of business success, and operational excellence to the companies we invest in.”
Elumelu’s call to Indian investors comes as Nigeria is seeking to attract more foreign investment. The country’s economy is growing, and the government is making efforts to improve the business environment.
The Nigeria-India Presidential Roundtable and Conference was an opportunity for the two countries to discuss ways to strengthen their economic ties. The conference also saw the signing of several investment agreements between Indian and Nigerian companies.
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