DR Awele V. Elumelu, OFR, Director at Heirs Holdings, Founder of Avon HMO & Avon Medical, and Co-Founder of the Tony Elumelu Foundation, has called on governments, the private sector, and global partners to see Nigeria’s challenges as untapped opportunities for transformative investment.
News Point Nigeria reports that delivering the keynote private sector address at the Lagos Chamber of Commerce and Industry (LCCI) International Business Conference and Expo 2025 at Eko Hotels & Suites, Victoria Island, Lagos, Dr. Elumelu emphasized that Nigeria’s future lies in harnessing its youthful population, bridging infrastructure gaps, and empowering entrepreneurs.
Highlighting Nigeria’s demographics, she described the nation’s youth as both its biggest challenge and greatest opportunity.
“Nigeria is home to over 226 million people, with more than 60% under the age of 30. This is not a liability, it is a goldmine,” she said.
“If properly harnessed, this generation can power one of the most dynamic workforces in the world. But if neglected, it becomes a ticking time bomb.”
She recalled that the Tony Elumelu Foundation’s $100 million entrepreneurship programme has so far empowered over 24,000 young entrepreneurs, creating more than 1.5 million jobs and generating $4.2 billion in revenue, pulling over two million Africans out of poverty.
Dr. Elumelu identified critical sectors where Nigeria’s challenges present immense opportunities for investors:
Despite vast gas reserves, poor electricity supply drains the economy of about $26 billion annually.
“Businesses spend more on generators than on innovation,” she noted, urging private capital to replicate Heirs Holdings’ power investments through Transcorp Group, which revived dormant assets.
“Why should Nigerians travel abroad for healthcare when we can build world-class facilities here?” she asked. Through Avon Medical and Avon HMO, she said, investments are being made to deliver affordable insurance and modern hospitals.
In her call to action, Dr. Elumelu challenged policymakers and international stakeholders to rethink their approach to Africa, “Create consistent policies and enabling environments. Stop stifling the private sector with unpredictability.”
“Do not wait for perfection. Start, build, innovate, and invest. See problems as business opportunities.”
Closing her speech, Dr. Elumelu urged business leaders to embrace Africapitalism, a philosophy pioneered by her husband, Tony Elumelu, where private enterprise drives economic growth and shared prosperity.
“Our future will be written by those who see opportunity where others see obstacles, and who have the courage to act,” she said. “That is the spirit that will define Nigeria’s transformation. That is the legacy we must commit to.”
