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Tinubu: Hitting Ground Running or Supervising Hardship?

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By Eric Elezuo

In 30 days that President Bola Tinubu has been in power, a lot of water has passed under the bridge. While the loyalists and supporters of the president believe that he has taken steps in the right direction, the generality of the Nigerian population are groaning in what many described as consciously inflicted hardship.

The Tinubu administration kicked off on May 29, 2023, with a blanket removal of subsidy on petroleum products; a move many analysts believed has been the pivot through which all other counter effects have emanated.

During his inauguration speech, Tinubu noted that “fuel subsidy is gone”, bringing an end to what a section of Nigerians agree was the only lifeline enjoyed by the public from any government. They argued that with its removal, and without any tangible fall back or palliative, it means the Tinubu administration has removed the only connection between the people and the government of the day in terms of cushioning effect of economic meltdown.

However, Tinubu had insisted that subsidy was a fraud enjoyed by only the rich at the detriment of the poor, and must be removed, the level of protestations from the public notwithstanding. He added that he was only a mouthpiece to the subsidy removal, as the process was not captured in the 2023 budget, which was the ground work work the immediate past government of Muhammadu Buhari.

“We commend the decision of the outgoing administration in phasing out the petrol subsidy regime which has increasingly favoured the rich more than the poor. Subsidy can no longer justify its ever-increasing costs in the wake of drying resources.

“We shall, instead, re-channel the funds into better investment in public infrastructure, education, health care and jobs that will materially improve the lives of millions,” he said.

The payment of subsidy on petroleum products, everyone agreed, has, however, threatened the nation’s fiscal position and impacted the government’s ability to fund developmental projects across the nation, but what is in contention is the timing of the removal as it has adversely affected the already impoverished population rather than ameliotating their hardship.

A cross section of Nigerians, including organised labour vis a vis the Nigerian Labour Congress (NLC) and the Trade Union Congress (TUC), the former presidential candidates of the Labour Party, Mr. Peter Obi and Peoples Democratic Party (PDP), Atiku Abubakar among many other influential Nigerians, have reasoned that though the removal was a necessity, its method of introduction by the Tinubu government was not people-friendly. They argued that measures could have been laid bare to cushion the effects before its removal.

But in defence, Tinubu, in his first broadcast to the nation, to commemorate June 12 Democracy Day, said though he recognised the sufferings Nigerians were going through, the removal of fuel subsidy was necessary to save the country from going under. He promised to give succour through a combination of reliefs in different sectors of the economy.

“I feel your pain. This is one decision we must bear to save our country from going under and take our resources away from the stranglehold of a few unpatriotic elements. Painfully, I have asked you, my compatriots, to sacrifice a little more for the survival of our country. For your trust and belief in us, I assure you that your sacrifice shall not be in vain. The government I lead will repay you through massive investment in transportation infrastructure, education, regular power supply, healthcare and other public utilities that will improve the quality of lives,” the president said.

But the amid the severe and biting pains, Nigerians are worried that the sacrifice Tinubu and his government called for is only being borne by the people while the government and officials still live large and in visible opulence.

The suspicion Nigerians had of the administration further heightened when news hit the media space that Tinubu has approved 114 per cent salary increment for himself, the Vice president, political office holders, members of the legislature and judicial officers. The story was however, denied by the presidency.

“We state, without any equivocation, that President Bola Tinubu has not approved any salary increase, and no such proposal has been brought before him for consideration,” a statement signed by the Special Adviser to the President on Special Duties, Communication and Strategy, Dele Alake, read. The statement blamed enemies of the administration for the false narrative, saying that it was “contrived to create ill-will for the new administration, slow down the upward momentum and massive goodwill the Tinubu-led administration is currently enjoying among Nigerians as a result of its fast-paced, dynamic and progressive policies.”

Other draconian or anti-people policy that has made media rounds, but denied by the administration, include increase in electricity tariff and supposed hike of petrol price to N700.

A cross section of Nigerians, who bared their minds to the The Boss, said there’s no smoke without fire, adding that most of these things begin as a rumour, then denied, and later resurrect to become the norm.

With the notion that it was moving on fast-paced, dynamic lane, having sacked, arrested and detained the Central Bank Governor, Mr. Godwin Emefiele and the Economic and Financial Crimes Commission (EFCC) chairman, Abdulrasheed Bawa, Tinubu had dished out policies that have further reduced the purchasing power of the naira, and enlisted the ordinary Nigerian in the lowest wrung of the poverty index. With the prices of food items, services and transportation hitting the roof, the masses are just left to wonder what line of ‘sacrifice’ the Tinubu government will come up with next in the guise of making things better. He had installed Folashodun Shonubi, a deputy governor in charge of operations in place of Emefiele.

Making good his promise of a “thorough house-cleaning” of the CBN during his inauguration, Tinubu, on June 14, through the CBN, announced the unification of all segments of the foreign exchange (FX) market, replacing the old regime of multiple exchange rate “windows” for different purposes with, in effect, a market rate.

African Business reported that naira immediately fell 36% against the dollar on the official market. The liberalisation of the market signalled the removal of some of the restrictions on the foreign exchange rate in the official market.

Tinubu’s wand wave led to the jumping of Nigeria’s stock market to its highest level in 15. The index of the Nigerian Stock Exchange soared 4% higher on the day to a closing price of 58,164 points, sending stocks’ year-to-date gains to 13.5%. The stock market continued its rally after the CBN liberalised the market, with market capitalisation climbing 3.26% to reach N32.7 trillion on 15 June, demonstrating the increased value of listed companies on the stock exchange.

The number of deals executed on 14 June showed a 15% increase compared to the previous trading period, with volume of trade rising by 9.28% to show increased market participation and increased liquidity, according to African Business.

But stakeholders across labour and traditional commerce have asked how the measures have affected the standard of living of the average Nigerian. The answer is farfetched as prices continue to reduce Nigerians to second class citizens, making families remain continually unsure of where and how the next meal (if any) will come.

But Tinubu seems optimistic, and while being hosted by the Lagos State governor, Babajide Sanwo-Olu, reiterated that his policies, as harsh as they seem at the moment, will in the long run, benefit Nigerians.

“We will work together in an open door policy that will bring Nigeria from the brinks back to a resilient economy; be ready.

“You governors, I know what I am going to do from Monday, Tuesday, up. I want us to be partners so that we can rescue our country and make it whole again.

“We shall receive the joy of giving, the joy of perseverance, the joy of resilience and endurance. You will see the reward. For this country is going to be prosperous for us.

“I am happy that the legislature, the executive arms of government are here. I appreciate it and I will continue to appreciate it more when we work together to dissect the possible economic prospects of our nation in favour of our children,” Tinubu said.

Meanwhile, operators within the downstream oil and gas sector have said the federal government has raked in N400 billion due to fuel subsidy removal in the last 30 days. This was disclosed in an interview with Daily Post by Chinedu Okonkwo, National President of the Independent Petroleum Marketers Association of Nigeria (IPMAN). That was a cheering news as that is the amount Group Managing Director of Nigeria National Petroleum Corporation Limited, Mele Kyari, claimed Nigeria spends on subsidy every month.

A socio-economic analyst, who spoke with The Boss of the basis of anonymity, informed that “most Nigerians, especially the market men and women are not interested in the bogus figures being paraded by the administration; they want to take a bus and pay affordable price, they want to go market buy food items without breaking the bank. Anything other than that, will mean an extension of the disastrous eight years of Buhari.”

With one month gone, the tangible things Nigerians have witnessed are the sack and arrest of Emefiele and Bawa; sack of service chiefs and their replacements.

“That is not an achievement,” the analyst said.

Nigerians are looking forward to better days ahead as the hardship bites harder.

Tinubu was inaugurated as the 16th Nigerian leader, on May 29, 2023, having defeated the duo of Atiku Abubakar of the PDP and Peter Obi of the LP with what observers noted as the smallest number of winning votes since 1999.

However, Atiku and Obi are in court challenging the emergence of Tinubu as president, praying the judiciary to ‘do the right thing’.

The 180 days judicial window for the litigation, which will terminate in October, will put paid to the contention of who won the election.

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Charles Osuji: Canada Celebrates a Legal Wizard

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By Eric Elezuo

From a very humble beginning in Imo State, South East Nigeria, Charles Osuji has not only found the golden fleece, but had nature give him a soft landing on posterity; the evidence of his prolific hard work.

Here’s the story of a man, who transcended boundaries and borders, challenges and huddles as well as barriers to take the legal profession by storm, hitting the highest echelon with panache in far away Calgary, Alberta in Canada. He graduated top of his class with honours from Imo State University in 2009, and called to the Nigerian bar from where he migrated to Canada. He was absorbed into the then Smith Law Office, where he had a successful articling before being admitted into the Alberta Bar in 2014. He became a partner in 2016, and moved to sole ownership in 2017.

Today, Canada celebrates a man of vision, impact, focus, determination and commitment to growth, just as Nigeria walks tall with pride at a total package of dignity, influence, affluence and candor exportable to the global world. His name is Dr. Charles Osuji, the Chief Executive Officer of one of Canada’s most thriving law firm, Osuji & Smith Lawyers. Osuji proved from day one to be a man, who knows what he wants, and it is no accident that he has achieved so much, and yet not rested on any oars. He sits comfortably as the owner of the largest black-owned law firm in Canada.

Osuji’s larger than life achievements have been encapsulated in what most authorities have said and written about him.

In a speech during the welcoming of The Boss Publisher, Chief Dele Momodu, in Calgary the week before, Barrister Juliet Omonigho, has this to say about Dr. Osuji

“Sir, let me tell you a bit about Dr. Charles Osuji; like Chief Dr. Momodu, he embarked on a journey fueled by vision and determination. Charles arrived in Canada and quickly rose through the ranks with sheer hard work, humility, and an unwavering commitment to excellence. In just a few short years, five years to be exact, he went from a young Nigerian boy in his twenties who, though graduated at the top of his class, seemed to have no prospects when he arrived in Canada, working three menial jobs to make ends meet, to finally getting an articling position after over 200 rejections! He bought the firm just three years after Articling and, in just five short years as managing partner, led it to become the largest black-owned law firm in Canada! His story is one of resilience, innovation, courage and the kind of tenacity that transforms dreams into reality.

“Osuji & Smith Lawyers, under Charles’ leadership, mirrors the journey of Ovation International. Both entities began with a vision, faced numerous challenges, achieved feats that had never been achieved before… and ultimately became symbols of success and excellence in their respective fields. Just as Chief Dr. Dele Momodu has become a beacon of pride for Africa in the global media landscape, Dr. Charles Osuji and his firm have become shining examples of what can be achieved by a young immigrant lawyer with no connections in Canada but through hard work and a commitment to uplifting others rise to national recognition in this country.

“Through the Foot in the Door Initiative, FIDI, an organization founded to empower internally trained lawyers Charles, our firm’s reach is international, giving incredible opportunities to internationally trained lawyers around the world to gain legal experience so they do not have to spend years writing hundreds of applications as he did before getting a foot in the door into a legal profession.

“As a director of the program, we get contacted by lawyers from around the world about the opportunity to be part of the initiative, and we say yes, which gives them the confidence to move to Canada to pursue their legal careers. The impact of the FIDI innovation is truly global.

“Our firm is so successful because Charles has assembled an incredible team of legal minds producing first-class work and the most dedicated and brilliant administrative staff. And collectively, we are all determined and dedicated to giving back. We are a full-service law firm with a diverse staff that speaks over 31 languages; by the way, Chief Momodu, we know you are a linguist who speaks several languages. Our ages range from twenties to seventies, and we serve a diverse Canada.

“As a result of Charles’ leadership, Nigeria is uplifting others regardless of race, ethnicity, or nationality. Over 200 FIDI students from different races have passed through our doors. Osuji & Smith has won landmark cases that established precedents, especially in employment law.

“Our firm has won over 105 awards across Canada, and Charles was recognized as one of Canada’s 25 most influential lawyers at age 35.

“Chief Dr. Momodu, you have led the way, setting an incredible example for a person like Dr. Charles Osuji—to rise to remarkable heights while keeping your focus on a larger mission: showcasing excellence, rewriting narratives, and creating opportunities for others. Your story continues to impact us even in the diaspora. It reminds us that with vision, determination, and the courage to stand for something greater than ourselves, there are no limits to what we can achieve.”

For a gentleman, who moved to Canada in 2011, it is quite impressive how he has climbed the ladders of success, and settled at the very height of greatness.

OF CHARLES OSUJI AND OSUJI & SMITH LAWYERS

By the age of 30, Charles Osuji, an internationally trained lawyer from Nigeria, bought a 37-year-old firm wherein he had served as an articling student not long before. Today, Osuji & Smith is a thriving small-sized firm that offers multi-generational and multi-cultural perspectives to its client base. The firm’s diverse staff includes lawyers who are educated or trained abroad, as well as individuals who can speak English, Igbo, Mandarin, Cantonese, Bengali, Spanish, Japanese, Korean, French, Hindi, Punjabi and Urdu. Professionals at Osuji & Smith can bring their diverse legal, financial and lived experiences to the table, which is what sets the firm apart from others.

Charles Osuji acts as a role model for young professionals and as a mentor to the associate lawyers, articling students and legal assistants at the firm. For these reasons, Three Best Rated has consistently named Osuji & Smith, beginning in 2017, as one of the top-rated employment and business firms in Calgary.

Also on the endless list of those, who have one or two things to say about Osuji is the site LEXPERT Business of Law, who wrote in 2021 as follows:

In 2011, Charles Osuji uprooted himself — and his developing legal career — to move to Calgary from Nigeria. An internationally trained lawyer, he came to Canada knowing he’d have to become re-accredited and develop a new network of personal and professional colleagues — but Osuji wasn’t daunted by these challenges. He joined what is now Osuji & Smith Lawyers in 2013 as an articling student, was called to the Alberta Bar in 2014, became partner at the firm in 2016 and then, at the age of 31, made another bold move: he became sole owner of the firm. At an age when most lawyers are still preoccupied with learning their craft, Osuji stands at the helm of a thriving and fast rising small-sized law firm as managing partner and CEO.

Osuji was recently named one of Canadian Lawyer’s Top 25 Most Influential Lawyers; was recognized in both Canada and Avenue Calgary’s Top 40 Under 40 Award categoryies; won the Immigrant of Distinction — Achievement Under 35 Award from Immigrant Services Calgary; was recently recognized, and voted by his fellow lawyers across Canada, in Best Lawyers: Ones to Watch, 2022, for his outstanding professional excellence in private practice; and was a nominee for the Canadian Bar Association’s 2020 Douglas Miller Rising Star Award.

Osuji & Smith covers a number of areas of law including personal injury, immigration, civil litigation, business, wills and estate, real estate, family, and employment and labour. Clients, which represent a cross-section of Alberta businesses and individuals, benefit from the firm’s multi-generational and multi-cultural perspectives, and Osuji’s willingness to provide these different perspectives sets his firm apart in the Calgary market. He strives to bring an entrepreneurial, multi-cultural and holistic approach to the practice of law.

Osuji is dedicated to providing mentoring and leadership for his staff and is also “a volunteer extraordinaire.” He plays piano at his church, provides pro bono work such as with E-Fry and legal clinics and is a mentor for other newcomer professionals through the Calgary Region Immigrant Employment Counsel, where he participates in workshops and panel conversations as well as serves on the Board of Directors and as Secretary.

Despite his fast and furious rise in the Canadian legal community, Osuji remains humble, genuine and kind. His unique combination of high intellect, tireless work ethic and business acumen fuels this rising star, but Osuji remains grounded by his role as a model citizen for all young professionals.

A multi-award-winning lawyer across divides, Charles Osuji remains undaunted, churning out firsts after first.

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Edo Decides: The Battle of Godfathers

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By Eric Elezuo

The countdown to the Edo State governorship election winds down, today, September 21, 2024 with 18 candidates slugging it out with one for another in the race to occupy Osadebe House, home of the executive governor of the state.

Much as there are 18 candidates on the ballot paper, observers as well as stakeholders, have narrowed the contest to three main candidates vis a vis Asue Ighodalo of the Peoples Democratic Party (PDP), Olumide Akpata of the Labour Party (LP) and Monday Okpebholo of the All Progressives Congress (APC).

But even as these candidates are the ones that have their names on the ballot papers, popular opinion across board believe that they are just pawns being controlled by specific godfathers, who are at the sides pulling the strings of support either financially, mobilization or public relations. Consequently, the election has been termed a battle of godfathers behind the scene rather than a game of popularity among contestants.

For the governing PDP candidate, Ighodalo, the accepted norm among political stakeholders has remained that he is an extension of the outgoing governor, Mr. Godwin Obaseki, who eight years tenure ends on November 12. On the same hand, there is the Adams Oshiomhole factor, solidly pushing the candidacy of Okpebholo, a serving Senator of the Federal Republic of Nigeria.

However, while many are of the opinion that the Labour Party candidate, Barr Olumide Akpata, is a standalone candidate, with no particular pressure of godfatherism, many others say he is not alone, but is also being pushed by a godfathers they recognized as Mr. Peter Obi, the LP presidential candidate in the 2023 general election. Peter Obi, who represents the face of a new Nigeria among the youths, has featured prominently in most of Akpata’s campaign.

But for the two major godfathers, Obaseki and Oshiomhole, between whom there’s no love lost, the campaign season had been replete with mudslinging, verbal attacks and on few occasions, physical attacks. These issues have put a question mark to the decency expected as the elections kick off.

The attacks and no love status so far experienced led to the PDP’s refusal to participate in the peace accord signing ceremony, where other contesting political parties including the APC, signed.

The PDP queried the rationale behind the harassment of its members with security agencies, saying that if it did not stop, and if  the Special Forces forced on Edo is not to be withdrawn, they will not sign the accord. And they did not.

“We already have a very effective state police command, so why bring in these Special Forces to Edo to harass people,” a party chieftain, Emmanuel Odigie, who defected from APC said.

But this is not the first time Obaseki will Square up against Oshiomhole, who ordinarily, was his political godfather. Both met on the tuff of political exigency in 2020 while Obaseki was seeking a second term and Oshiomhole was supporting Osagie Ize-Iyamu. This present contest is a return or episode of the events that transpiref in 2020. Even if Peter Obi was a godfather in the present disposition, he is yet to get into any shouting match with the other godfathers or contestants.

Obaseki has described the election as do or die, but observers believe it goes beyond that as it is winner takes it all considering the extent of animosity brewing among the contestants. It will be recalled that 24 hours to the election, the three candidates suffered particular setbacks. While it was said that the candidate of the APC, Monday Okpebholo had been disqualified by the courts, it was also rumored that Akpata has withdrawn from the election.

On the other, political thugs allegedly loyal to Ighodalo and the PDP were apprehended with dangerous weapons. A statement by the Force Public Relations Officer, Olumuyiwa Adejobi, said they were getting ready to violently disrupt the Saturday election.

THE CANDIDATES

According to a ThisDay report, the election in Edo is described as a three horse race involving Ighodalo, Akpata and Okpebholo. These three are reported to have the highest of followership and has been prominent and visible in the campaigns.

The supporters of the candidates agree that they are not all equally matched, but that each has a comparative advantage his opponents lack.

Consider of review of their profile as portrayed by Wikipedia:

ASUE IGHODALO (PDP)

Asue Ighodalo is a product of King’s College, Lagos. He obtained B.Sc degree in Economics from the University of Ibadan in 1981, an LL.B from the London School of Economics and Political Science (1984) and a B.L from the Nigerian Law School, Lagos (1985).
Upon graduation from Nigerian Law School, Lagos, Ighodalo worked as an Associate in the law firm of Chris Ogunbanjo & Co between 1985 and 1991, and in 1991 he set up Banwo & Ighodalo, in partnership with Femi Olubanwo. The firm is consistently ranked as a leading Nigerian law firm in the areas of Capital Markets, Securities, Mergers & Acquisitions. Ighodalo’s core areas of practice include Corporate Finance, Capital Markets, Energy; Natural Resources, Mergers; Acquisitions, Banking, Securitization and Project Finance.In 2014, Ighodalo successfully advised Zenith Bank Plc in connection with a US$500 million eurobond issuance and Diamond Bank Plc in connection with a US$200 million eurobond issuance respectively.

He resigned from all corporate positions he held to aspire to become the governor of Edo State.

On February 22, 2024, Ighodalo emerged as the People’s Democratic Party (PDP) candidate for the 2024 Edo State governorship election. However, a Federal High Court sitting in Abuja nullified election on the ground that 378 delegates who were to vote during primary election were unlawfully denied their rights to vote.

His candidacy was eventually upheld by the Federal High Court in Abuja, which confirmed Ighodalo as the legitimately nominated governorship candidate of the PDP in Edo State, and dismissed the lawsuit challenging his nomination.

Ighodalo was the Chairman of the Board of Directors for Sterling Bank Plc, Dangote Flour Mills Plc and The Nigerian Economic Summit Group (NESG). He also sat on the boards of other public and private companies, non-governmental organizations (NGOs) and a statutory body including Okomu Oil Palm Company Plc, the Nigeria Sovereign Investment Authority (NSIA) and the FATE Foundation (an NGO committed to the development of entrepreneurs in Nigeria).

Ighodalo became the Chairman of Sterling Bank in August 2014. He is a member of Nigerian Bar Association (NBA), and is a past chairman of The NBA – Section on Business Law (NBA SBL). He is also a member of Association of International Petroleum Negotiators (AIPN), USA, Nigerian Economic Summit Group, International Bar Association (IBA), Nigerian Maritime Law Association, Commercial Law & Taxation Committee of the Lagos Chamber Of Commerce & Industry, London School of Economics Lawyers’ Group and Associate Member Chartered Institute of Taxation.

Ighodalo is married to Ifeyinwa, and they have two daughters, Omoehi and Ayomide.

He is the elder brother of Pastor Ituah Ighodalo, senior pastor of Trinity House, Lagos.

MONDAY OKPEBHOLO (APC)

Okpebholo was born on 29 August 1970 in Udomi-Uwessan community of Irrua. Okpebholo attended Udomi Community Primary School and Ujabhole Community Secondary School, both in Uwesan Irrua, Esan Central LGA. He completed his secondary education and obtained his senior school certificate in Jos, Plateau State. Afterwards, he obtained a degree in Business Administration from the University of Abuja and holds Masters’ degree in Policy and Leadership Studies from the same institution.
Okpebholo contested for the Senate Seat in Edo Central senatorial district, under the All Progressives Congress (APC) and was elected on 25 February 2023. On 13 June 2023, he was inaugurated into the 10th National Assembly of Nigeria, as the senator of the Federal Republic of Nigeria, representing Edo Central senatorial district.

In February 2024, he won the Edo State APC gubernatorial primary election.

In 2024, Okpebholo was summoned by Magistrates’ Court over allegations of falsifying date of birth which was stated as 1 August 1977, on his INEC voter card.

Previously, he was caught falsifying his date of birth as 29 August 1972 on a WAEC certificate while being a student at the West African Examination Council.

During the 2024 campaign, Monday Okpebholo was endorsed by Nollywood actress, Mercy Johnson-Okojie, whose husband is a Service member of the National Assembly under the APC.

Okpebholo is married to Blessing Okpapi Ekpe and together they have two children. Besides being a politician and a family man, he is also a committed Christian and an active member of the Redeemed Christian Church of God.OLUMIDE AKPATA (LABOUR PARTY)

Olu Akpata

Akpata was born on October 7, 1972, in Berlin Germany. He started his educational journey at Nana Primary School in Warri, then moved on to Federal Government College, Warri and later King’s College in Lagos. He obtained a bachelor’s degree in law from University of Benin, Edo state in 1992 and was called to the bar in 1993. He served in the National Youth Service Corps in Kano State.

Akpata began his legal practice in Delta state under the tutelage of Dr. Mudiaga Odje, Senior Advocate of Nigeria, OFR, who was one of the most seasoned litigators of his time.

In 1996, Akpata relocated to Lagos and teamed up with his cousin, Oghogho Akpata, who had just set up the law firm Templars the previous year. Akpata joined in the formation of Templars at the age of 23, and has grown the firm into what it is today, as one of the largest law firms in Nigeria with a workforce of about 100 lawyers, including two Senior Advocates of Nigeria, both of whom practice proficiently in diverse areas of Nigerian law.

Akpata is currently senior partner and Head of the Corporate & Commercial Practice Group of Templars. He has participated in some of the major groundbreaking transactions that have shaped commercial law practice in Nigeria and indeed the Nigerian economy. He was chairman of the Nigeria Bar Association Section on Business Law (NBA-SBL).

On July 30, 2020, he was elected as the president of the Nigerian Bar Association after acquiring a total of 9,891 votes of the total 18,256 ballots cast.

Akpata is riding on the popularity of his party leader, Peter Obi, and the sweeping waves the party made in the 2023 elections, where it overwhelmingly won Edo State.

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Tony Elumelu Urges Urgent Action on Africa’s Economic Growth, Youth Employment, and Energy Transition at UNGA

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UNGA: Elumelu To Call For Urgent Action On Africa- Focused Issues African philanthropist and business leader, Tony Elumelu, will make Africa’s transformative economic growth, youth employment, and energy transition central to the discussions at this year’s United Nations General Assembly (UNGA), taking place late September in New York.

 

Elumelu will call for urgent action in a series of engagements, including a roundtable discussion at the Clinton Global Initiative with former President of the United States, Bill Clinton, and at an event co-hosted by the World Food Programme (WFP) and the Tony Elumelu Foundation (TEF), led by WFP Executive Director, Cindy McCain.

 

Elumelu will bring his perspective both from extensive experience in building industry-leading businesses across the continent, and the success of the Tony Elumelu Foundation’s catalytic programmes empowering young Africans. Elumelu is a realist, challenging Africa and Africans to solve their problems, bringing African solutions, but also recognizing Africa’s responsibility to act.

 

As Chairman of United Bank for Africa (UBA) Group and pan-African investment company, Heirs Holdings, as well as Founder of the Tony Elumelu Foundation, Elumelu is a leading driver of Africa’s transformation agenda, helping shape the continent’s narrative on the global stage. His thought leadership and advocacy challenge conventional views, offering innovative strategies for collaboration and growth. The success of his Foundation in promoting youth entrepreneurship as a pathway out of poverty, has featured in case studies from Harvard, Chicago Business School, Stanford and Cambridge.

 

With over 60% of Africans lacking access to electricity and young people making up more than 60% of the continent’s 1.3 billion population, Africa faces challenges that impact the world. Africa, most recently with tragic floods in West Africa, is suffering climate driven environmental crises, caused by global emissions, whilst Africa’s development is held back by huge infrastructure deficits.

 

In a recent statement, Elumelu emphasised, “I have often said that there is nowhere else in the world you can reap the kind of investments as in Africa. However, I am acutely aware of the fundamental challenges our continent faces. Addressing the issues of sustainable economic growth, youth unemployment, genda inequality, and Africa’s energy transition is critical not only for meeting the continent’s basic developmental needs, but also for achieving the Sustainable Development Goals and unlocking the immense economic potential that Africa offers.”

 

An economist and visionary entrepreneur, Elumelu’s economic philosophy of Africapitalism, serves as a blueprint for accelerating Africa’s economic transformation, advocating for the private sector to take the lead in delivering social and economic wealth, and shared prosperity for all.

 

Alongside Elumelu’s advocacy, the United Bank for Africa, which he chairs, will host a networking gala on the sidelines of UNGA – a platform to spotlight investment opportunities on the continent. The Gala will convene prominent leaders across four continents, in commemoration of UBA Group’s 75th anniversary and the Group’s 40 years of operations in the United States.

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