Founder of the Tony Elumelu Foundation (TEF), Tony Elumelu, has called for investment in Nigerian youth and provide them with the means to succeed in Nigeria.
He spoke on Sunday in Abuja at the Nigerian Bar Association (NBA) annual general conference.
Elumelu, who is also the chairman of Transcorp Power Limited, said this means not just investment in our education system, but in our entrepreneurial culture.
“Nigeria is a nation of entrepreneurs – you know me as an investor and champion of entrepreneurs – I know the social and economic returns entrepreneurship creates. Let us create a joined-up government task force to champion at the highest level, our young and our entrepreneurs, when entrepreneurs succeed, we succeed as a nation. If they don’t, we all fail,” he said.
He emphasised the importance of creating regulatory structures that deliver to hospitals and industries the sustainable, robust power supply that the country so urgently needs.
According to him, nation building is not a quick fix, it entails sacrifices. ”We cannot keep doing the same things and expect different outcomes.
“Let us lead our nation building, by laying those important foundations for our nation – let us renew our infrastructure. When I talk of infrastructure, I do not mean just roads or rail, bridges, or ports, I mean Investment in our youth – we need to renew our commitment to our youth, provide them with the means to succeed in Nigeria – not beyond Nigeria.”
-Advertisement-
He emphasised that nations that prioritise its young go far. To him, it is no coincidence that an America that created Harvard and Stanford, also produced Amazon, Microsoft and Google, adding, “we need the same focus on our young, their futures and ambitions.
“Let us invest in our women. When a woman succeeds, families and communities are lifted out of poverty. It is no surprise that in my businesses, women lead and flourish.
“Let us invest in our power sector – let us create regulatory structures that reward success, that deliver to our people, our schools, our hospitals and our industries, the sustainable, robust power supply that our country so urgently needs.
“Is it not ironic that a country with abundant gas resources cannot optimally operate its power plants due to lack of gas! I have seen, the beginnings of what we can do. Let me give you an example: The TransAfam Power Plant that belongs to Transcorp Group has an installed capacity of 1000 megawatts.
“The Federal Government of Nigeria made significant investment to acquire 240 megawatts fast power turbines from General Electric (GE). For context, 240 megawatts of electricity can power about one million homes in Nigeria. Yet GE has threatened to pull out of the project, because our nation – with some of the largest gas reserves globally, could not provide 65mm scuffs of gas needed for the comprehensive testing of the installed fast power plant.
“We have idle gas fields and there is so much private capital to make the needed investments for gas production. Yet, we cannot produce gas to power our economy and 21st Century industrialisation. Thanks to a short-sighted regulatory regime and self-serving policies that keep our people permanently in the dark. This has to change.”
He also called for investment in Nigeria’s social infrastructure, in the civil society, courts of law and administrators of justice emphasising that no country – and no entrepreneur, can truly thrive without the rule of law, peace, certainty and fairness – for all – for our young, our old, our women and our men, our future generations.
The billionaire businessman also urged the country to be committed to the task of nation-building with unwavering determination, guided by the principles of unity, inclusivity, and progress.
We do everything possible to supply quality news and information to all our valuable readers day in, day out and we are committed to keep doing this.
Your kind donation will help our continuous research efforts.
-Advertisement-
-Want to get the news as it breaks?-
