My Heart Bleeds When Conglomerates Move Investments From Nigeria to Ghana – Tony Elumelu

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The Group Chairman of the United Bank for Africa (UBA) Tony Elumelu has expressed deep sadness over the movement of investments by huge conglomerates from Nigeria to neighbouring Ghana.

He stated this on Wednesday when he featured on The Morning Show on ARISE News, and noted that while Nigeria boasts of a huge market, the macro-economic environment of the West African country must improve.

Mr Elumelu highlighted some of the concerns expressed by the companies to include the worsening insecurity in the country but noted that as a private investor he advertises the country through the investments.

“My heart bleeds when you see conglomerates moving their investments or quarters from Nigeria to Ghana,” Mr Elumelu said.

“Nigeria is a huge market and honestly the macro-economic environment must begin to improve, the concern most of them have is security challenges we have in the country.

“For us as private sector, the best way we sell our country is through the investments that we make. When I go out and people say that in Nigeria things are bad, I say to them that the glass is half full, there is nowhere else you get the kind of returns on investment as what you get here in Nigeria and I speak as an investor in Nigeria, as an investor in Africa and other parts of the world.

By Abel Ejikeme

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