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Nairaland Forum / Nairaland / General / Business / Worst Days Over For Nigerias Economy, Says Tony Elumelu (24917 Views)
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Worst Days Over For Nigerias Economy, Says Tony Elumelu by Butterflyleo: 12:40pm On Oct 24, 2018 |
![]() The founder of the Tony Elumelu Foundation (TEF), Mr. Tony Elumelu, yesterday said Nigeria’s economy is headed in the right direction, describing 2016 as a terrible year for the economy. Elumelu, who said this in an interview monitored on CNN yesterday, also disclosed that his Group would in the next few weeks, close a $2.5 billion oil asset acquisition deal in the country. According to him, “things are changing in Nigeria and it appears our economic managers have finally gotten a strong grip on the economy.” The Chairman of the United Bank for Africa Plc, however, pointed out that there was still room for improvement, stressing that as an investor in several sectors in the Nigerian economy, “I see improvement and I am optimistic about the future.” “Oil prices going up is good and encouraging. Our group is in the process of closing a $2.5 billion oil asset acquisition in the country. We are doing this as a demonstration of confidence in the economy. If the economy was not good or improving, we would not be contemplating that “The truth is that in 2016, we had a bit of challenge with capital control, but in 2018, we don’t have such any more. Access to dollar is now easy. I speak as someone who invests significantly in Nigeria. “Raising $2.5 billion for investment would not come through if the foreign investors were scared about capital control,” he explained. According to Elumelu who is also the Chairman of Heirs Holdings, a lot of investors outside the country don’t have enough information about Nigeria. He stressed the need for policymakers to continue to take steps towards improving Ease of Doing business in the country so as to attract more capital inflow. “I am a long-term investor, i was born in Africa and I made my money in Africa and i am happy to invest in Nigeria and other African countries. “Today we have investments in 23 African countries. Ultimately, we keep making investments because it helps in creating wealth,” he added. When asked about the sectors he is excited about, Elumelu said: “I am excited about oil and gas and I am excited in banking, most importantly, power. Power is important for me because Nigeria and Africa needs power to develop. “Our group is the largest generator of electricity in Nigeria. But we can do more. We just need the debt we are owed in that sector. So, If I was to complain, I would complain about the debts owed us as power operator. “In other sectors, I think things are improving. I think the CBN particularly has gotten the grip on the economy and a lot of windows and markets have been created for investors who want to bring in money into Nigeria and those who want to take out money from the country. We should keep encouraging investors because we need massive investments in Nigeria to develop, to help create employment for our young ones and to help us alleviate poverty,” he added. https://www.thisdaylive.com/index.php/2018/10/23/worst-days-over-for-nigerias-economy-says-elumelu/?amp&fbclid=IwAR30j3OIgYfMCQPfXG3Cm8bfTYhWRcP82PUQN7Znbh2rF5lu2xCmCpNsmAk 30 Likes 5 Shares |
Re: Worst Days Over For Nigerias Economy, Says Tony Elumelu by PassingShot(m): 12:40pm On Oct 24, 2018 |
And children of anger, frustration and hate want us to abandon a clearly working government for one whose candidate has shown us his natural affinity for wanton looting of our resources, a kleptomaniac at that act!. Forbes rated Nigerian economy as the best performing economy in Africa. Now, this news from a good ambassador from across the Niger has equally said: "things are changing in Nigeria and it appears our economic managers have finally gotten a strong grip on the economy.” "Our group is in the process of closing a $2.5 billion oil asset acquisition in the country. We are doing this as a demonstration of confidence in the economy. If the economy was not good or improving, we would not be contemplating that". If your brain is already Athiefkulooted by the fraud called Atiku, not all of us will suffer such unfortunate occurrence. 165 Likes 25 Shares |
Re: Worst Days Over For Nigerias Economy, Says Tony Elumelu by madridguy(m): 12:43pm On Oct 24, 2018 |
Welcome development. Slowly and steady, we will get there. Thank you Sai Baba. 117 Likes 13 Shares |
Re: Worst Days Over For Nigerias Economy, Says Tony Elumelu by Butterflyleo: 12:44pm On Oct 24, 2018 |
Its a lie, Tony Elumelu is a BMC. He is a zombie. How can he be lying like this? ![]() Nigerias economy is terrible. ![]() Let me troll the wailing Athiefkulators ![]() 80 Likes 7 Shares |
Re: Worst Days Over For Nigerias Economy, Says Tony Elumelu by Ekez(m): 12:47pm On Oct 24, 2018 |
Oga na for yur side 4 Likes |
Re: Worst Days Over For Nigerias Economy, Says Tony Elumelu by quickberry(m): 12:49pm On Oct 24, 2018 |
God bless PMB/PYO 53 Likes 7 Shares |
Re: Worst Days Over For Nigerias Economy, Says Tony Elumelu by SingleWahala(f): 12:49pm On Oct 24, 2018 |
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Re: Worst Days Over For Nigerias Economy, Says Tony Elumelu by modath(f): 12:52pm On Oct 24, 2018 |
Ekez: It's the quick money that funds consumptive lifestyles that is no more, hence the oohhhs & aahhhs... Holes have been plugged, people can't live lavish, when they don't, there is no trickle down.... Which company has closed down in recent times? just ONE, not two... I'd wait till next week for a response.. ![]() 50 Likes 6 Shares |
Re: Worst Days Over For Nigerias Economy, Says Tony Elumelu by Butterflyleo: 12:53pm On Oct 24, 2018 |
tuziko: From the OP and from the mouth of someone who should know The Chairman of the United Bank for Africa Plc, however, pointed out that there was still room for improvement, stressing that as an investor in several sectors in the Nigerian economy, “I see improvement and I am optimistic about the future.” As an investor in several sectors across Nigeria he is better positioned to speak from a place of authority 36 Likes 4 Shares |
Re: Worst Days Over For Nigerias Economy, Says Tony Elumelu by Righteousness89(m): 12:54pm On Oct 24, 2018 |
Butterflyleo:VERY OLDDDDDDDD NEWS! No link to video! 5 Likes |
Re: Worst Days Over For Nigerias Economy, Says Tony Elumelu by modath(f): 12:56pm On Oct 24, 2018 |
Ekez: No pain, no gain.... Naija can't continue on the path to perdition.... people use funds meant for infrastructures for the whole populace to build malls,buy cars, dash relatives & sponsor oloshos.... That's not a moving economy bros... There will be pain now but soon gain will show... pele. ![]() 31 Likes 5 Shares |
Re: Worst Days Over For Nigerias Economy, Says Tony Elumelu by Butterflyleo: 12:57pm On Oct 24, 2018 |
25 Likes 4 Shares
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Re: Worst Days Over For Nigerias Economy, Says Tony Elumelu by Nobody: 12:57pm On Oct 24, 2018 |
That's nice to know 2 Likes |
Re: Worst Days Over For Nigerias Economy, Says Tony Elumelu by SarkinYarki: 12:58pm On Oct 24, 2018 |
The World Bank is predicting that Nigeria is inching towards another dire recession if Buhari wins his re-election and Tony is saying something , well the worst will be over for Nigerian economy once we vote Buhari out . 6 Likes 1 Share |
Re: Worst Days Over For Nigerias Economy, Says Tony Elumelu by Ganzagangan: 12:58pm On Oct 24, 2018 |
Good to know. There are igbos and there are yannnmmirris/Igbos. Kudos to an Igbo man here, that knows his onions in finance and management. For the yannnnirrriiiinnns/ipob. What have you got to say? 23 Likes 2 Shares |
Re: Worst Days Over For Nigerias Economy, Says Tony Elumelu by Fierce11: 12:58pm On Oct 24, 2018 |
Just read the rubbish some zombies above me are spewing.. Elumelu clearly said that "2016 was Nigeria worst economy ever".. Was 2016 not among your god, Bubu's administration?.. Elumelu is even stupid. How does collecting massive loans used for "huge but unsee-able projects and infrastructures" steer Nigeria towards the right direction? Nigerian Naira exchange rate was around N160 per dollar during GEJ's era.. It currently above N365 per dollar. How is that an improvement in this wretched economy? It's either Elumelu is vainly stupid or his wealth is affecting him from giving the right judgement. (spits) 13 Likes 1 Share |
Re: Worst Days Over For Nigerias Economy, Says Tony Elumelu by nairaman66(m): 12:59pm On Oct 24, 2018 |
Wanton lies!! Who is tony elumelu?? Perhaps he is the current CBN governor? These things are paid adverts from the destructive APC led government!! How can economy be bouncing back and you are hell bent on a borrowing spree and selling our future generations into abject conditions of extreme poverty and modern day slavery? 4 Likes |
Re: Worst Days Over For Nigerias Economy, Says Tony Elumelu by Righteousness89(m): 12:59pm On Oct 24, 2018 |
Butterflyleo:I am right now on CNN page... nothing of such happened yesterday! Tony Elumelu Last interview on CNN dated Jan 30 during the DAVOS Meeting in Swiss.. https://www.youtube.com/watch?v=jsLTRZUacu4 1 Like |
Re: Worst Days Over For Nigerias Economy, Says Tony Elumelu by Butterflyleo: 12:59pm On Oct 24, 2018 |
modath: That's the thing they don't want to hear. They think Nigeria is like a casino which never runs out of cash. Playing kalo kalo with our collective futures with the money we asked them to use for infrastructure they take it to enrich themselves off casino Nigeria. 13 Likes |
Re: Worst Days Over For Nigerias Economy, Says Tony Elumelu by Nobody: 12:59pm On Oct 24, 2018 |
J |
Re: Worst Days Over For Nigerias Economy, Says Tony Elumelu by jumpandpas(m): 1:00pm On Oct 24, 2018 |
ok |
Re: Worst Days Over For Nigerias Economy, Says Tony Elumelu by thewesternking: 1:00pm On Oct 24, 2018 |
Our worst days are behind us. 1 Like |
Re: Worst Days Over For Nigerias Economy, Says Tony Elumelu by ictjobber: 1:01pm On Oct 24, 2018 |
All talk |
Re: Worst Days Over For Nigerias Economy, Says Tony Elumelu by Ganzagangan: 1:01pm On Oct 24, 2018 |
Righteousness89: Yannnmmirrin, this one. 8 Likes |
Re: Worst Days Over For Nigerias Economy, Says Tony Elumelu by Lotorino: 1:02pm On Oct 24, 2018 |
The truth is bitter for some to understand. You are on point for dis one modath: 8 Likes |
Re: Worst Days Over For Nigerias Economy, Says Tony Elumelu by idowuswap: 1:02pm On Oct 24, 2018 |
mad nairalanders would be ignored |
Re: Worst Days Over For Nigerias Economy, Says Tony Elumelu by hisexcellency34: 1:02pm On Oct 24, 2018 |
with Atiku in charge abi? |
Re: Worst Days Over For Nigerias Economy, Says Tony Elumelu by semyman: 1:03pm On Oct 24, 2018 |
Illiterates will be arguing otherwise 8 Likes |
Re: Worst Days Over For Nigerias Economy, Says Tony Elumelu by hope4nigeria(m): 1:03pm On Oct 24, 2018 |
PassingShot:working government indeed, people jumping to lagoons and Fulani herds men killing people to bury cow. Your family will soon become a victims of Fulani's killing amen, |
Re: Worst Days Over For Nigerias Economy, Says Tony Elumelu by idowuswap: 1:03pm On Oct 24, 2018 |
idowuswap:truth issa bitterwhy did u ban me.admin.pls answer 1 Like |
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