Elumelu urges investors to seize Nigeria’s goldmine of opportunities

By Babajide Komolafe, Economy Editor

Founder of Avon HMO and Avon Medical, Dr. Awele Elumelu,  yesterday called on local and foreign investors to seize Nigeria’s vast opportunities, describing the country as a “goldmine waiting to be unlocked.”

Speaking at the Lagos Chamber of Commerce and Industry (LCCI) International Business Conference and Expo 2025 in Lagos, Elumelu, who is also Co-Founder, Tony Elumelu Foundation and Director at Heirs Holdings,   said Nigeria’s economic and social challenges should not discourage investors but instead inspire innovative solutions that can transform the economy.

Delivering a keynote on the theme: “Investing in Nigeria: The Challenges and the Opportunities – The Entrepreneur’s Perspective,” she noted that with over 226 million people, a youthful population, and abundant natural resources, Nigeria remains one of the most attractive destinations for investment.

  “We are sitting on a goldmine: a massive market, a future workforce, and a generation of innovators waiting for someone to believe in them,” she said.

Elumelu identified youth unemployment, economic instability, power, healthcare, and infrastructure as Nigeria’s toughest challenges but also its biggest opportunities.

She highlighted the work of the Tony Elumelu Foundation, which has committed $100 million to African entrepreneurs since 2010, creating over 1.5 million jobs and generating $4.2 billion in revenue. “This is the power of the private sector transforming lives, one entrepreneur at a time,” she said.

On power, she lamented that poor electricity supply costs Nigeria $26 billion annually, but stressed that private sector investment, such as Transcorp’s turnaround of dormant power assets, shows what is possible.

Turning to healthcare, she decried Nigeria’s $1.5 billion annual loss to medical tourism, insisting that the country must build world-class hospitals and affordable health insurance locally. “Why should Nigerians travel abroad for treatment when we can build facilities here?” she asked.

Concluding, Elumelu urged policymakers to create consistent, enabling environments, advised businesses not to wait for perfection before acting, and called on global partners to treat Africa as peers, not patrons.

  “The spirit that will define Nigeria’s transformation is seeing opportunity where others see obstacles — and having the courage to act,” she declared.

The post Elumelu urges investors to seize Nigeria’s goldmine of opportunities appeared first on Vanguard News.