There is high returns on investment in Nigeria, Tony Elumelu insists

The Chairman of Heirs Holdings, Tony Elumelu, has insisted that there is availability of high returns on investment in Nigeria for serious-minded investors that are optimistic about  huge investment opportunities.
He made this remark during a one-day investors’ webinar organised by the Bureau of Public Enterprises in collaboration with Nigerian Exchange Group and Nigerian Investment Promotion Commission.
Elumelu, spoke on the theme, “The Nigerian Business Environment, Prospects and Challenges.”
Using Heirs Holdings as an example,  he describe the country’s business environment as friendly.
“I have been investing in key sectors for quite some time. I am an investor in the financial services space and I am happy to be the Group Chairman of UBA.
“This is a business that was catalysed in Nigeria and today operates in 20 African countries servicing over 25 million customers, with over 1,000 branches across Africa.
“We have presence in London, Paris and the only money-taking African bank in the United States. So, if the Nigerian investment environment is not hospitable, we would not be where we are today,” he said.
According to him, Heirs Holdings also has investment in power, a sector he described as critical in driving economic growth and development.
Expressing satisfaction over his investment in the country’s power sector, he said, “there is nowhere else you can get the type of returns on investments that you get in Nigeria, especially in some of these critical sectors like power.”
“In 2013, we invested in the power sector and at the end of that year we paid dividend. So, we do see opportunities here and we do have high returns on investment. We just invested in the Afam Power Plant and in the past few months we have been able to increase production by 241 per cent generation. This is the kind of experience we have investing in Nigeria,” he said.
Continuing, Elumelu said: “We invested in the hospitality and real estate sector and it is doing quite well. Occupancy in the iconic Transcorp Hotels last week was over 100 per cent and we were in Abuja last week to launch ‘Aura,’ the digital platform for accommodation, and it was quite difficult for some of my colleagues to get space in the hotel.
“That is the kind of experience you tend to have in Nigeria. We also invested in the oil and gas sector because we agree that gas is the next frontier.
“From these you can see that returns on investment is high and opportunities are there for serious-minded investors who don’t only see the negative side, but those who see opportunities to invest in Nigeria.”

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