TONY ELUMELU; LIGHT MAKES BUSINESS SENSE

TONY ELUMELU; LIGHT MAKES BUSINESS SENSE 

Tony O. Elumelu, CEO-Heirs Holdings Plc 

In a bid in ensuring that Africans have access to reliable and affordable power supply, the Heirs Holdings, through its Chairman, Tony Elumelu, CON, has chosen to generate nearly 1000MW at the Transcorp Ughelli power plant in Delta State, currently Nigeria's largest thermal energy plant, which initial output was 150MW. 

In an interview with CNN's Zain Asher, the Africapitalist, stress on the relevance of constant power supply in modern business as it's reduces cost of operating expense for entrepreneurs. 

"We must power Africa's next phase of development by targeting and prioritizing the growth of our manufacturing, industries and services and universal access to POWER is the fulcrum that will make this happen.

We have chosen to invest significantly in power in order to BUILD a future where all Africans enjoy reliable, accessible and affordable access to electricity. Improved access to electricity will enable our children study at night without need for harmful lanterns and allow our entrepreneurs run their businesses at affordable operating costs"

"Let me tell you about the power of the private sector – the core of my personal investment philosophy of Africapitalism. When we took over the power plant in Nov 1, 2013, the output was 150MW. Today, we have the capacity to generate nearly 1000MW in a country where less than half of the population has access to electricity. It is because of our commitment to creating both economic wealth and social prosperity through hard work, excellence, innovation and resilience, that this rapid turnaround has been achieved.

I want US to transform Africa via Africapitalism and this is the reason why at Heirs Holdings we have invested and continue to invest in the Niger Delta. Though currently undergoing tension, we envision a bright future for this region. I am focused on getting it right at home because power is the single most critical issue on the local development agenda. If we fix power in Nigeria, then everything else will follow" he added.