Economy

Take advantage of Nigeria’s business ranking, Elumelu urges investors

The former Chief Executive of United Bank for Africa (UBA), Tony Elumelu, has urged Nigerian and foreign investors to take advantage of the World Bank’s Ease of Doing Business ranking of Nigeria to invest in the country.

Elumelu, an industrialist said this while speaking with State House Correspondents after a visit to the Presidential Villa.

According to him, there is so much private global capital looking for investment destination, adding that this new ranking would attract such funds.

“The fact that we moved 24 places is huge, is significant and it gives us impetus and hope that we can even do better.

“So, it is like your child is doing well in school and you say well done guy, but we need you to do more. So, I see us progressively improving and now as a country we all realize the fact that this kind of rating is good.”

Foreign investment

The successful entrepreneur later added that there is need for more investors to alleviate poverty and turn Nigeria’s economy around.

“But more importantly we need foreign investors and Nigerian investors to take advantage of this because the ordinary man on the street will say what does this mean.

“What this means is that we can attract more investments and as we get more investments we create more jobs.

“As we create more jobs we alleviate poverty, we begin to grow an inclusive government, an economy and there is prosperity, peace and happiness in our land. That is what it means.”

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