Heirs Holdings Chairman, Tony Elumelu, Calls for India-Nigeria Business Synergy

In a dynamic address at the Nigeria-India Presidential Roundtable and Conference, Tony Elumelu, Chairman of Heirs Holdings and Co-Chair of the Business 20 (B20) Action Council, delivered an impassioned plea for global business leaders to harness the vast economic potential of Nigeria and the African continent.

The event, organized by the High Commission of Nigeria to India, in collaboration with the Confederation of Indian Industry (CII) and the Nigeria-India Business Council (NIBC), provided a unique platform for dialogue and collaboration between two economic powerhouses.

Elumelu, a renowned businessman who operates in 24 countries across four continents and invests in entrepreneurs across all 54 African nations, emphasized the tremendous opportunities that Nigeria and Africa offer to investors.

“Nigeria boasts a massive market, with over 200 million people and the largest GDP on the continent,” Elumelu stated. “What’s even more exciting is the youth demography, which comprises 65% of our population. We have intelligent, energetic, and hardworking young people—an incredible source of human capital, that investors need to drive their businesses. This presents a tremendous investment opportunity!”

Elumelu’s address didn’t stop at highlighting the potential but delved into practical investment successes, notably in the power sector. He shared his experiences with Transcorp Group, a company under Heirs Holdings, which achieved a remarkable feat in the Nigerian power sector by not only turning a profit but also paying dividends to shareholders in its second year of investment—a rare occurrence in the sector.

“I like power, yes for returns, but just as importantly, it is critical for our country’s success, as a society and nation,” he emphasized.

He went on to encourage Indian business leaders to consider Nigeria as a profitable and rewarding investment destination, citing the successes of Heirs Holdings across various sectors, including power, hospitality, healthcare, technology, banking, and insurance.

“As true Africapitalists, we believe in collaboration for mutual prosperity,” Elumelu remarked. “We need capital to drive infrastructure, as well as to drive businesses that will spur the employment our economy needs. We cannot do it alone; we need collaboration.”

Elumelu’s impassioned plea for increased investment in Nigeria and Africa received a warm reception from the audience, including Indian and Nigerian business leaders, politicians, and international development partners.

The conference marks a pivotal moment in strengthening economic ties between India and Nigeria, with the promise of mutually beneficial partnerships on the horizon.

As the global business community explores the investment opportunities in Nigeria, Tony Elumelu remains steadfast in his commitment to fostering collaboration and building a brighter future for both nations and their human capital.