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

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.

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

Oga na for yur side

God bless PMB/PYO

...... E go Better

Ekez:
Oga na for yur side

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..

tuziko:
Are yiu sure, cos i dont think so

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

Butterflyleo:



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

Mynd44, OAM4J, Lalasticlala

VERY OLDDDDDDDD NEWS!

No link to video!

Ekez:
Oga na for yur side

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.

Righteousness89:
VERY OLDDDDDDDD NEWS!

YESSS OOO AS "VERY" OLD AS JUST YESTERDAY.

That's nice to know

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 .

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?

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)

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?

Butterflyleo:


YESSS OOO AS "VERY" OLD AS JUST YESTERDAY.

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

modath:



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.

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.

J

ok

Our worst days are behind us.

All talk

Righteousness89:
I am right now on CNN page... nothing of such happened yesterday!

Yannnmmirrin, this one.

The truth is bitter for some to understand. You are on point for dis one

modath:


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..

mad nairalanders would be ignored

with Atiku in charge abi?

Illiterates will be arguing otherwise

PassingShot:
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 we suffer such unfortunate occurrence.

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,

idowuswap:
mad nairalanders would be ignored

truth issa bitterwhy did u ban me.admin.pls answer