Notable entrepreneur, Mr. Tony Elumelu, revealed yesterday that he has invested about $2.5 billion on electricity in Nigeria, with a view to creating enabling environment for foreign investments.
Elumelu, who was speaking at a Powering Africa’s Progress organized by Centre for Strategic Studies and Investment Studies (CSIC) in Washington DC, U.S.A, said all hands must be on deck to have stable electricity in Nigeria.Said he: “I have invested more than $2.5billion on power under African Initiative. We know what is happening, and we must put our resources together to realize it.”
The Nigerian businessman urged political leaders, stakeholders and philanthropists in Africa to invest in power, and also find ways to eradicate poverty.
According to him, power should be seen as a major social amenity that can attract foreign investors to African countries.
“The population of Africa is growing; the income capital is also growing. We believe that people need the truth. We are investing because we know our children are coming. Power is a scarce commodity in Africa. We have 20% of African countries that have access to power,” he said.
Source: Daily Newswatch
Elumelu, who was speaking at a Powering Africa’s Progress organized by Centre for Strategic Studies and Investment Studies (CSIC) in Washington DC, U.S.A, said all hands must be on deck to have stable electricity in Nigeria.Said he: “I have invested more than $2.5billion on power under African Initiative. We know what is happening, and we must put our resources together to realize it.”
The Nigerian businessman urged political leaders, stakeholders and philanthropists in Africa to invest in power, and also find ways to eradicate poverty.
According to him, power should be seen as a major social amenity that can attract foreign investors to African countries.
“The population of Africa is growing; the income capital is also growing. We believe that people need the truth. We are investing because we know our children are coming. Power is a scarce commodity in Africa. We have 20% of African countries that have access to power,” he said.
Source: Daily Newswatch
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