Chairman of Heir Holdings and a prominent billionaire investor, Tony Elumelu, has expressed his view that President Bola Ahmed Tinubu is a business-friendly leader during an interview on Channels TV in New York.
Elumelu emphasized that President Tinubu’s recent actions demonstrate a strong commitment to fostering a business-friendly environment.
He believes that Tinubu’s support for businesses and his willingness to create an enabling atmosphere for them will attract significant global private capital seeking suitable investment destinations.
Tony Elumelu’s remarks
Elumelu remarked,
- “There’s so much private global capital looking for the right investment destination, and this capital will flow to where it’s most welcome.”
He underlined the importance of confidence and trust in the Nigerian economy and leadership. Elumelu believes that if people have confidence in Nigeria’s economy and leadership, the country will attract the necessary funds for infrastructure development and foreign exchange improvement.
Referring to the President’s recent NASDAQ event, Elumelu described it as symbolic and welcomed the initiative.
He also emphasized the need for tangible actions to ensure that the promises made to foreign investors are upheld, as what benefits foreign investors ultimately benefits local investors as well.
Elumelu stressed the importance of creating a conducive environment to boost investor confidence and serve as a testament to the country’s credibility. He pointed out that Nigeria must attract private global capital investment to achieve a vibrant economy.
“To do that,” he said,
- “We need to create the right environment. So, to me, it’s symbolic that our President is here to meet with business leaders. It shows that it’s a matter that is important to him.”
Drawing from his experience as a private sector leader known for turning businesses around, Elumelu highlighted that Nigeria’s transformation is a long-term endeavour.
He emphasized the need for patience, focus, commitment, dedication, and discipline to achieve the country’s economic transformation.
Elumelu concluded by encouraging everyone, including the President and his team, to remain steadfast in doing what is right to foster positive change in Nigeria’s economy.
If all businesses establish in Nigeria, where is the effective demand. The population size has become an albatross..A poor population offers no good to investment. It is evident in the numerous divestments, the inability to scale up by many businesses and stock build up in warehouses of firms.