Electricity and security vital for Nigeria’s industrial advancement- Elumelu

Tony Elumelu, Chairman of the United Bank for Africa Group, emphasized on Tuesday that dependable electricity and enhanced security are critical for Nigeria’s industrial progress.

During his address at the 17th Annual Banking and Finance Conference in Abuja, Elumelu underscored the importance of these two elements in driving the nation’s development.

The conference, hosted by the Chartered Institute of Bankers of Nigeria, saw the participation of prominent figures, including Vice President Kashim Shettima and Central Bank Governor Olayemi Cardoso.

“Development cannot occur without consistent access to electricity,” Elumelu stated, further asserting that “Nigeria’s industrialization and the education of our youth hinge on our ability to convert our abundant natural resources into reliable power for everyone.”

His remarks come at a time when Nigeria’s economy is grappling with high inflation and challenges in the manufacturing sector.

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