Chairman of Heirs Holdings Tony Elumelu, has highlighted that improving access to electricity, enhancing security, and streamlining the ease of doing business are vital factors in attracting investment to Nigeria.
Elumelu made these remarks during the Taraba International Investment Summit in Jalingo, which was organized by the Taraba State Government. The summit brought together investors from across the country and beyond, aiming to unlock investment potential in the state.
Electricity, Security, and Business Environment as Investment Drivers
“Improving access to electricity is critical to attracting and supporting investments in the country,” Elumelu emphasized. He added that enhancing security and creating a better business environment are equally crucial for fostering investor confidence.
These factors, Elumelu argued, are essential for providing a stable foundation for businesses to thrive, particularly in regions like Taraba which is seeking to attract more investment.
Empowering Youth through Job Creation
Elumelu also underscored the importance of employment in tackling Nigeria’s youth unemployment crisis. He described providing job opportunities for young people as one of the most effective means of empowerment. “It is a betrayal of a generation when young people leave school without being able to find jobs,” Elumelu said, stressing the importance of creating opportunities for the youth to contribute to the economy.
Currency Stability and the Role of the Government
In his speech, Elumelu commended the Federal Government, under the leadership of President Bola Tinubu, for stabilizing the country’s currency. However, he called for further improvements in the exchange rate. “While the currency rate is still high, we now have stability, which investors appreciate as it allows them to plan ahead,” Elumelu noted. He expressed hope that the exchange rate could be further improved to strengthen the economic environment.
Dangote’s Advice on Supporting Local Investors
Aliko Dangote, President of the Dangote Group, who also attended the summit, echoed similar sentiments, advising the government to prioritize local investors. He explained that thriving local businesses are the foundation for attracting foreign investment. According to Dangote, no foreign investors will be interested in a country where domestic businesses are not flourishing.
Summit Highlights and Government Representation
The Taraba International Investment Summit attracted significant interest from investors across Nigeria and beyond. Vice President Kashim Shettima represented President Tinubu at the event, where discussions on investment opportunities in Taraba State took center stage.
