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

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

wink2015:


TONY ELUMELU YOUR DELTA STATE IS DYING ECONOMICALLY BY INSTALMENT AND YOU ARE THERE IN LAGOS TALKING BIG BIG GRAMMAR!

Come and rescue Delta state from the wicked hands of James Onanefe Ibori, Dr. Emmanuel Uduaghan and Dr. Senator Ifeanyi Okowa.

There are no industries for the youth to be gainfully employed.

No jobs from Asaba to Ughelli, down to Warri and Sapele, no job at all.

That is the bitter legacy of Chief James Ibori.

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.

madridguy:
Welcome development. Slowly and steady, we will get there.
Thank you Sai Baba.

quickberry:
God bless PMB/PYO

Ganzagangan:
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?

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.

Butterflyleo:


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 wnrish themselves off casino Nigeria.

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.

jumpandpas:








See them celebrating over false hope given to them by a failed government.

A man that hates corruption will not allow his Son Yusuf to be riding a ten million dollar bike.

We need facts not propaganda and false hope.

alizma:
IT TAKES A MAN WHO KNOWS HOW DEEP THE AXE FELL TO APPRECIATE THE MIRACLE OF RETRIEVING IT. They almost ruined the entire nation beyond repair but thank God for Buhari. I remember there was a time they said he won't be able to sustain the dollar bail out but without certificate, as they claim, he has sustain everything he started. How many men can keep their house should there income suddenly fall by 60% ? that was what happened to Nigeria as oil price dropped from about $100 to below $40 per barrel yet Buhari and his team, with the help from above were able to keep the country. SAI BABA

Oluwadare:
Like I keep saying, there would always be a room for more developments in our agitation for workable and conducive environment in our country. I.e if an opportunity comes and I see better individual than this current ones at the helm of the country I'd be gladly support him/her, but right now, there is just no one contesting against PMB that is better than him. No one. Vote PMB out now is like taking a step forward and dozens backward.

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.

Fierce11:
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)

SarkinYarki:
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 .

Fierce11:
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)

PassingShot:
Elumelu is a BMC.
Brain has been looted by Atiku.

wink2015:


TONY ELUMELU YOUR DELTA STATE IS DYING ECONOMICALLY BY INSTALMENT AND YOU ARE THERE IN LAGOS TALKING BIG BIG GRAMMAR!

Come and rescue Delta state from the wicked hands of James Onanefe Ibori, Dr. Emmanuel Uduaghan and Dr. Senator Ifeanyi Okowa.

There are no industries for the youth to be gainfully employed.

No jobs from Asaba to Ughelli, down to Warri and Sapele, no job at all.

That is the bitter legacy of Chief James Ibori.

jumpandpas:








See them celebrating over false hope given to them by a failed government.

A man that hates corruption will not allow his Son Yusuf to be riding a ten million dollar bike.

We need facts not propaganda and false hope.

Butterflyleo:


It actually dropped from $130 pb (which was the highest ever) this was under GEJ to $27 pb (which was the lowest ever) this was under PMB yet he was able to keep the nation afloat while still paying off debts, paying contractors owed, driving infrastructure, still gave bail outs to 30 States which GEJ bankrupted and never borrowed to pay salaries

alizma:

they know that 2016 was part of Buhari's administration but they are not dumb not to understand that bush meat don't get rotten the same day it get caught in a trap. we knew it was the recklessness of Jonathan and his team that got us where we found ourselves in 2016

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.

jumpandpas:








See them celebrating over false hope given to them by a failed government.

A man that hates corruption will not allow his Son Yusuf to be riding a ten million dollar bike.

We need facts not propaganda and false hope.

jumpandpas:








See them celebrating over false hope given to them by a failed government.

A man that hates corruption will not allow his Son Yusuf to be riding a ten million dollar bike.

We need facts not propaganda and false hope.

newjosboy:


Remember, during GEJ's tenure, Nigeria was rated the best economy in Africa followed by S.A.
BUT currently isn't Nigeria rated the capital of poverty in the world?