Nigeria presents a golden investment opportunity for Indian investors, according to Mr. Tony Elumelu, during the Nigeria-India Presidential Roundtable and Conference held in New Delhi, India. As the Chairman of Heirs Holdings and the United Bank for Africa (UBA), Elumelu urged private sector leaders in India to join him in capitalizing on the rapidly expanding Nigerian economy, which is home to 20% of Africa's population and boasts one of the largest consumer bases globally.
Elumelu, speaking from his own experience as a private sector investor in Nigeria, emphasized the potential for growth and success in the country. "This is the time to invest in Nigeria," he declared confidently. He highlighted the companies within his own group's investment portfolio as evidence of the immense opportunities available. Elumelu firmly believed that Indian investors could also leverage his track record and achievements to their advantage.
"Nigeria is a huge market," Elumelu stressed. With a population exceeding 200 million and the largest economy on the African continent, it offers a fertile landscape for business ventures. What makes Nigeria even more enticing, Elumelu explained, is its demography. The nation boasts a vibrant cohort of young individuals eager to consume, along with a highly skilled and industrious workforce that provides the necessary human capital for businesses to thrive.
Tony Elumelu has established himself as a prominent figure in pan-African financial services and currently holds significant power and natural resources operations, all centered around creating value across Africa. His expertise and influence have earned him the co-chair position of the Business 20 (B20) Action Council, tasked with focusing on African economic integration. He shares this responsibility with Sunil Mittal, the founder of Bharti Enterprises, which owns Airtel. The B20, established within the G20 in 2010, serves as the official platform for dialogue between the G20 and the global business community, comprising corporate enterprises and organizations.
With Elumelu's endorsement, Indian investors have been encouraged to explore the vast potential that investing in Nigeria holds. As the country's economy continues to thrive and its consumer base expands, the opportunity for profitable ventures is ripe for the taking.
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