In a powerful call to action, business mogul Tony Elumelu declared that Nigeria’s path to real economic transformation lies in solving three fundamental issues: electricity, security, and bureaucracy.
Speaking at the Taraba International Investment Summit held in Jalingo, Elumelu, who chairs Heirs Holdings, pulled no punches as he highlighted the tough realities investors face when entering the Nigerian market.
“Improving access to electricity is so critical in attracting and supporting investments in the country. Improving the security also helps, and most importantly ease of doing business,” Elumelu stated.
Jobs or Betrayal: Youth Left Behind
Beyond boardrooms and billion-dollar deals, Elumelu turned the spotlight on Nigeria’s youth — thousands of whom graduate into a system that fails to absorb them.
“One of the greatest betrayals of our generation is allowing young people to leave school without opportunities for gainful employment,” he said, stressing that investment isn’t just about capital — it’s about empowerment.
Elumelu’s message was loud and clear: Fix the system, and the youth will thrive.
Currency Stability: A Small Win, But the Journey Isn’t Over
Reflecting on a recent international engagement, Elumelu revealed that Nigeria’s foreign exchange stability is earning cautious nods abroad.
“Yesterday in Doha, they asked me about Nigeria’s currency. I commended President Bola Tinubu’s administration — there’s now stability. Not that the rate isn’t high, but at least it’s predictable. And that matters to investors.”
Still, he issued a caveat: stability is good, but affordability is better. Nigeria must do more to make its naira stronger and its economy more investor-friendly.
Dangote: Build Home First, Others Will Follow
Also speaking at the summit was Africa’s wealthiest man, Aliko Dangote, who added his voice to the chorus for homegrown economic revival.
“Governments — both federal and state — must support local businesses. No foreign investor will take us seriously if we don’t take ourselves seriously first.”
The Bigger Picture: Can Taraba Be a Model?
With investors and policymakers gathered from all over the country and beyond, the summit aimed to spotlight Taraba State as an emerging hub for investment in agriculture, infrastructure, and energy.
Vice President Kashim Shettima, who represented President Tinubu at the event, reiterated the administration’s support for initiatives that foster economic growth and inclusive development.
Closing Thoughts: A Call, Not Just a Conference
Tony Elumelu’s words weren’t mere boardroom banter — they were a direct challenge to policymakers and a plea for the nation’s youth. With Taraba taking the first step, eyes now turn to Abuja and the rest of Nigeria to follow through.
This is not just a summit story. It’s a national alarm.
📌 More updates to follow as policies evolve and investments unfold.
Leave a Reply