Leading African entrepreneur and investor, Tony Elumelu, has asserted that the current economic climate in Nigeria offers a prime opportunity for investors to achieve favorable returns. Speaking at the Nigeria-India Presidential Roundtable and Conference in New Delhi, India, Elumelu highlighted Nigeria’s substantial market size and abundant opportunities for foreign investors. With a significant stake in various publicly traded companies and investments spanning insurance, real estate, power, and financial services, Elumelu’s “Africapitalism” philosophy centers on value creation in Africa.
During his keynote address, he encouraged Indian private sector leaders to explore investment prospects in Nigeria, emphasizing the nation’s large consumer base, youthful demographic, and skilled workforce. Elumelu, who also co-chairs the Business 20 (B20) Action Council focusing on African economic integration, affirmed that Nigeria’s advantageous demographics and economic potential make it an ideal destination for investment.
In response to President Bola Tinubu’s commitment to fostering a conducive environment for foreign investments in Nigeria, Indian investors pledged approximately $14 billion in investments. Elumelu’s perspective underscores the growing interest in Nigeria’s economic landscape and the opportunities it presents to global investors.