August 27, 2023
By Evan Charles InvestAdvocate
(INVESTADVOCATE)– Tony Elumelu, Chairman, United Bank for Africa Plc (UBA) and Founder, The Tony Elumelu Foundation (TEF) on Sunday urged Nigerians to collaborate in unity to reset Nigeria, he made this call at the Nigerian Bar Association (NBA) annual conference in Abuja Nigeria.
According to him, there’s nothing less than a fundamental renewal of the social and economic infrastructure of Nigeria, the contract between a nation and its people. “For me this is nothing less than a fundamental renewal of the social and economic infrastructure of Nigeria, the contract between a nation and its people,” he said.
Elumelu noted that tough and long avoided economic decisions have been taken by the current administration of President Bola Tinubu.” We salute the political will and courage that have been found to address the root causes of issues, to introduce policies for the long term, not for the short term,” the UBA Chairman added.
He said that nation building its not a quick fix, but entails sacrifice. “We cannot keep doing the same things and expect different outcomes,” Elumelu affirmed.
“Let us lead our nation’s building by laying those important foundations for Nigeria, let us renew our infrastructure,” he advised.
According to him, infrastructure do not mean just roads or rail, bridges or ports; but investment in Nigeria’s youths by providing means to succeed in Nigeria and not beyond Nigeria.
He further affirmed that infrastructure is not just investment in the nation’s education; but Nigeria’s entrepreneurial culture. ” Nigeria is nation of entrepreneurs, you know me as an investors and champion of entrepreneurs, I know the social and economic returns entrepreneurship creates,” Elumelu said.
The TEF Founder noted that when entrepreneurs succeed, the nation succeeds and if they don’t the nation fails. “In my engagement with fellow private sector leaders, my message is simple; we must see ourselves as the engine of innovation, the source of investments and the creators of jobs. This is exactly what we have achieved at the Tony Elumelu Foundation.” he added.
Elumelu noted that the nurturing of entrepreneurship is not merely an economic endeavour, but a social responsibility. “By empowering our youths, supporting start-ups and SMEs, the private sector contributes to equitable wealth distribution, job creation and social advancement. It paves the way for economic empowerment that uplifts communities and contributes to a more inclusive society. We all owe this to our people, even for our own enlightened self-interest.” The UBA Chairman affirmed.
He noted nations that prioritize their young go far, “it is no coincidence America that created Harvard and Stanford, also produced Amazon, Microsoft and Google, we need the same focus on our young, their future and ambitions.” Elumelu said.
He called for investment in the power sector and the creation of regulatory structures that reward success and deliver to Nigerians, schools, hospitals and industries, “the sustainable robust power supply that our country so urgently needs,” he said.
According to him, Nigeria has idle gas fields and there is so much private capital to make the needed investments for gas production, yet cannot produce gas to power its economy and the twenty-first century industrialisation.
Elumelu called for a halt to the shortsighted regulatory regime and self-serving policies that keep Nigerians permanently in the dark.
