TONY ELUMELU: STOP EXAGGERATING, WE ARE NOT THAT CORRUPT

Chairman of Heirs Holding Limited, Tony Elumelu, on Monday warned foreign investors to stop making reports that tarnish the image of Nigeria, thereby discouraging intending investors from bringing their businesses into the country.

Elumelu was speaking at the Presidential Policy Dialogue at the 18^th National Economic Summit in Abuja. He noted that though corruption should be tackled with iron fists in the system, it should not be a major focus of reporting issues concerning the country.

“Without sounding a bit defensive, I think we tend to over blow the issue of corruption in Nigeria and in fact, almost all the speakers who have spoken today are talking about corruption.

“MTN came into Nigeria to do business, they got the license, the stock price crashed in South Africa Stock Exchange, they started five, six, seven down the line; Nigeria produces over 60 percent of their gross revenue across the world. But they don’t tell that story about Nigeria, the story you hear is about corruption,” he said.

According to him, his company won one the biggest power stations in Nigeria at $200 million without consulting anybody but going by the process. He said that Nigeria is a country of over 170 million population and at such would have corrupt elements amongst the populace.

Credit: Channels TV