Prince Eludoyin’s $10bn Contribution to Nigeria’s Economy
Billionaire businessman, Prince Dipo Eludoyin, has become a true icon in the entrepreneurial landscape. He is unarguably one of the dynamic business magnates with a lot of global acclaim, while promoting worthy causes that affect Africa and entrepreneurship.
With decades of interrelations with Chinese business tycoons and multinational corporations, Society Watch has gathered that the renowned businessman is set to inject over $10 billion in foreign direct investment (FDI) from China into the Nigerian economy, in a bold move aimed at supporting President Bola Tinubu’s industrialisation agenda and strengthening the country’s GDP.
Eludoyin, who is also the Chairman of Paragon Group and owner of the landmark Ikeja Mall, is rallying Chinese multinationals and tycoons across key sectors—including pharmaceuticals, automobile, manufacturing, agriculture, power, technology, and oil and gas—for massive capital inflows that are expected to transform Nigeria’s economic landscape.
According to analysts, the scale and credibility of his personal and corporate relationships in China make this $10 billion investment drive highly feasible.
The investment initiative is expected to support several public-private partnerships, particularly in infrastructure and manufacturing. A Chinese consortium, reportedly assembled by Eludoyin, is exploring opportunities for setting up local production hubs for electric vehicles, pharmaceutical manufacturing plants, and smart agriculture clusters across Nigeria.
The initiative, which aligns closely with President Bola Tinubu’s Renewed Hope agenda, is expected to begin yielding visible results within the next 12 months. A technical team is already working with select Chinese corporations on compliance, regulatory integration and local content development.
Described by close associates as a silent force in global business and diplomacy, he is said to operate on a first-name basis with top Chinese industrialists, and even the President of China and other African Presidents.
A confidant and long-time friend of President Tinubu, he has consistently turned down traditional titles and political appointments, preferring instead to focus on private sector-driven national development.
In 2015, after the death of Oba Okunade Sijuwade Olubuse II, Eludoyin was widely touted as a potential successor to the highly revered Ooni of Ife throne. However, he declined involvement in the succession race and maintained his focus on business. He holds the national honour of Member of the Federal Republic (MFR).
source: Thisday
