Nigeria’s Economy Is Heading Towards The Right Direction – Tony Elumelu

Nigerian economist, entrepreneur, and philanthropist, Tony Onyemaechi Elumelu, has said in a new interview monitored on CNN that Nigeria’s economy is heading towards the right direction.

He said, “things are changing in Nigeria and it appears our economic managers have finally gotten a strong grip on the 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 anymore. 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”.
Tony Elumelu
Photo Credit: Getty

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