Speaking at the Nigeria-India Presidential Roundtable and Conference in New Delhi, Elumelu urged the Indian private sector to seize the opportunity to invest in Nigeria, which is experiencing rapid economic growth and is home to one of the largest consumer populations in the world.
Elumelu, who is known for building pan African financial service businesses and controlling power and natural resources operations, highlighted the potential for investment in Nigeria and invited Indian private sector leaders to join him and other global investors in accessing the country's evolving economy. He pointed to the success of companies in his group's investment portfolio as evidence of the lucrative opportunities available in Nigeria.
During the roundtable, Indian investors pledged investments worth nearly $14 billion to Nigeria, following President Bola Ahmed Tinubu's commitment to creating an enabling environment for foreign investments to flourish. Elumelu emphasized the size and potential of the Nigerian market, with its population of over 200 million and the largest economy on the African continent.
Elumelu also highlighted the demographic advantages of Nigeria, including a young, consumer-driven population and a skilled and hardworking workforce that provides the necessary human capital for investors. These factors, he believes, make Nigeria an attractive destination for investment.
In addition to his role in promoting investment in Nigeria, Elumelu was recently named co-chair of the Business 20 (B20) Action Council, which focuses on African economic integration. The B20, established within the G20, serves as the official platform for dialogue between the G20 and the global business community.
With Elumelu's endorsement and the Nigerian government's commitment to creating a favorable investment climate, Indian investors have been given a strong invitation to capitalize on the growing opportunities in Nigeria.
