The Chairman of Heirs Holdings, Tony Elumelu, has emphasised that improving access to electricity as well as improving security are so critical to attracting investments to the country.
Elumelu, who spoke at the Taraba International Investment Summit in Jalingo on Wednesday, also stressed the importance of ease of doing business in attracting investors.
“Improving access to electricity is so critical in attracting and supporting investments in the country. Improving the security also helps, and most importantly ease of doing business,” Elumelu said at the summit organised by the Taraba State Government.
He said that the reason he loves and preaches investment everywhere he goes is because it has many benefits, one of which is engaging the youths.
He stated that employment is one of the surest ways of empowering the young people, adding that it is a betrayal of a generation for people to leave school without being able to find jobs.
Elumelu also commended the President Bola Tinubu-led Federal Government for currency stability, but stressed the need to further bring the exchange down.
“I must also say that yesterday in Doha, one of the questions they asked me was about currency. I commended the Federal Government of President Bola Tinubu that we have stability now, not that the rate is not high but stability.
“And investors like when there is stability so they can plan ahead. I want to see us do well and further bring the currency down,” Elumelu said.
President of the Dangote Group, Aliko Dangote, who was also present at the event, advised the federal and state governments to patronise local investors for economic development.
Africa’s richest man said domestic investors are the ones who will attract foreign investors, as according to him, no foreign investors would come into a country where local businesses are not thriving.
The event attracted investors from across Nigeria and beyond, with Vice President Kashim Shettima representing President Tinubu.