Tony Elumelu, Chairman of Heirs Holdings, emphasized that improving access to electricity and enhancing security are crucial for attracting investments to Nigeria.
Speaking at the Taraba International Investment Summit in Jalingo on Wednesday, he also highlighted the importance of ease of doing business in drawing investors.
Elumelu explained that he advocates for investment because of its numerous benefits, including youth engagement.
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He stated that providing employment is one of the most reliable ways to empower young people, adding that it is a “betrayal of a generation for people to leave school without being able to find jobs.”
He commended President Bola Tinubu’s Federal Government for achieving currency stability, but stressed the need to further lower the exchange rate.
Elumelu recounted a recent experience in Doha where he praised the Tinubu administration for establishing currency stability, noting that “investors like when there is stability so they can plan ahead. I want to see us do well and further bring the currency down.”
Aliko Dangote, President of the Dangote Group, who was also present at the event, advised both federal and state governments to prioritize patronizing local investors for economic development.
Africa’s richest man argued that domestic investors are key to attracting foreign capital, as international investors are unlikely to enter a country where local businesses are not flourishing.
The summit saw participation from investors across Nigeria and internationally, with Vice President Kashim Shettima representing President Tinubu.
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