ELUMELU PRAISES REFORMS BUT SAYS POWER REMAINS ECONOMIC BOTTLENECK

Nigerian investor and Chairman of Transcorp Group Tony Elumelu says fixing Nigeria’s electricity supply remains critical to economic growth, even as he praised President Bola Tinubu for backing small businesses and stabilising the foreign exchange market.

Speaking after meeting Tinubu at the Presidential Villa on Friday, Elumelu said the government must urgently clear debts owed to power generation companies to boost electricity output.

Elumelu also expressed optimism about Nigeria’s economic direction, citing improved policy predictability and foreign exchange stability.