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Elumelu Calls For National Unity, Heavy Investment in Youths and Women

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By Tayo Oyediji

 

 

 

United Bank for Africa (UBA) Chairman and Founder, Tony Elumelu Foundation, Mr. Tony Elumelu has called for governments and Nigerians at all levels to strive for national unity while investing heavily in youth development and women.

 

Elumelu who spoke at the ongoing 2023 Nigerian Bar Association (NBA) Conference which has its theme as:“Getting it Right, Charting Course of Nigeria’s Nation building’ noted that unity and inclusivity were key elements that will lead Nigeria to greater heights.

 

According to him ‘’We have come together today united. United with one ambition, one duty – nation building. Yes – United, whatever our backgrounds, geographies, religions, experiences, by a single desire – to ensure that our country experiences a true renaissance.

 

“Let us approach the task of nation-building with unwavering determination, guided by the principles of unity, inclusivity, and progress’. Let our pursuit of nation-building be characterized by unwavering determination, empathy, and the commitment to create a legacy of progress, unity, and hope for generations to come”.

 

Elumelu also urged a reawakening of nation-building consciousness amongst Nigerians, pleading with the government at all levels to invest heavily in youth development.

 

He asserted that nation-building entails a fundamental renewal of the social and economic infrastructure of Nigeria, stating that the country needed to invest heavily in youths, women, the power sector, security, social infrastructure and in brand Nigeria.

 

Elumelu also noted that “Nation-building, at its core, is the intricate process of forging a cohesive, harmonious, and united society, out of diverse individuals, culture, and ideologies. It is the art of constructing a shared identity, purpose, and vision that transcends all individual interests

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Elumelu who is also  the Chairman, Heirs Holdings, stated that already, Nigerians have shown their capacity as champions in all spheres of human endeavor and what is needed is our collective will to unite.

 

In his words “In international leadership positions at the WTO, at the UN, at the African Development Bank, at the Afreximbank, in technology, in music and entertainment, in business, in arts and in media, in film, in sports. Indeed, in virtually every human endeavour, Nigerians excel”. In business, the Nigerian private sector is showing globally our capability, our ingenuity, our institutionalisation.

 

“We have global businesses with Nigerian origins: Let me name one – UBA, the United Bank for Africa, the only African Bank that operates in the USA as a deposit taking bank. We are now in Dubai, Paris, and London – and just as importantly 20 other countries in Africa – who would have thought 20 years ago, that Nigeria would be home to Africa’s global bank!”

 

Having achieved these feats, Elumelu said “Transforming Nigeria is a journey that demands our collective dedication, building across political affiliations, ethnic differences, and socioeconomic differences. Great nations start with great people, not just great leaders. Our private sector, our philanthropies, our civil society, all citizens must be brought together and be empowered – as real, valued and executing partners for this national renewal, this nation building. It behoves on us all to collaborate in unity to reset Nigeria.”

 

Elumelu also harped on the supremacy of the rule of law. Urging the NBA to work assiduously towards achieving a country where the rule of law is upheld. He maintained that, “No country – and no entrepreneur, can truly thrive without the rule of law, without peace, without certainty and fairness – for all – for our young, our old, our women and our men, our future generations.”

 

As he is passionate about nation building, Elumelu observed that he was not alone “There is no one in this distinguished gathering, that does not want the best for Nigeria. Whether my learned friends of the Bar or our distinguished leaders present. We know the potential of Nigeria.We know the resources, human and natural, that Nigeria has at her disposal.

 

“It is the art of constructing a shared identity, purpose, and vision that transcends all individual interests. Transforming Nigeria is a journey that demands our collective dedication, building across political affiliations, ethnic differences, and socioeconomic differences. One that is not the responsibility of our government alone.

 

.So, what does this mean? 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.

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. 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. 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. 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.

 

“The nurturing of entrepreneurship is not merely an economic endeavour, but a social responsibility. By empowering our youth, 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”.

 

He also called for women to be duly supported to thrive “Nations that prioritise their young go far, Let us invest in our women. When a woman succeeds, families and communities are lifted out of poverty. Let us invest in our power sector, And let us invest in our social infrastructure, in our civil society, our courts of law and our administrators of justice, Let us invest in security, Let us invest in brand Nigeria, Let us invest in Nigeria”

 

 

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NNPCL Slashes Fuel Price by N80

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The Nigerian National Petroleum Company Limited (NNPCL) has effected another reduction in the pump price of petrol, marking the third cut this December.

A survey of filling stations in Abuja on Thursday showed that the state-owned oil company lowered the price to N835 per litre from N915, reflecting a N80 reduction.

The latest adjustment follows similar moves by independent marketers, including MRS, BOVAS and AA Rano, which recently reviewed their pump prices to between N739 and N865 per litre across the Federal Capital Territory.

Findings indicate that the downward review by NNPCL and other marketers was triggered by a drop in ex-depot prices, after Dangote Refinery and depot owners reduced rates to between N699 and N800 per litre.
NNPCL and several filling stations had earlier reduced fuel prices on December 4 and December 10, 2025, as competition and supply dynamics continued to influence pricing in the downstream sector.

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2025: UBA Group Dominates, Wins Banker Awards, Emerges Africa’s Bank of the Year, Third Time in Five Years

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Africa’s Global Bank, United Bank for Africa (UBA) Plc, has once again, reaffirmed its leadership as one of the continent’s most innovative and resilient financial institutions, as the bank has, for the third time in five years, been named the African Bank of the year 2025 by the Banker.com.

UBA also won the Best Bank of the Year awards in nine of its 20 African subsidiaries, bringing its total awards this year to ten as UBA Benin, UBA Chad, UBA Republic of Congo (Congo-Brazzaville), UBA Liberia, UBA Mali, UBA Mozambique, UBA Senegal, UBA Sierra Leone, and UBA Zambia, all came out tops as the best banks in their respective countries, underscoring the bank’s strength across West, Central and Southern Africa and highlighting the depth of its Pan-African franchise.

The Banker.com, a leading global finance news publication published by the Financial Times of London, organises the annual Bank of the Year Awards, and this year’s edition was held at a grand ceremony at the Peninsula, London, on Wednesday.

The Chief Executive Officer, UBA UK, Deji Adeyelure, received the awards on behalf of the bank, representing the Group Managing Director/CEO, Oliver Alawuba, and was accompanied by the bank’s Head Business Development, Mark Ifashe, and Head, Financial Institutions, Shilpam Jha.

The Banker’s awards are widely regarded as the most respected and rigorous in the global banking industry, celebrating institutions that demonstrate outstanding performance, innovation and strategic execution.

In its remarks on UBA’s winnings, the banker.com said, “For the third time in five years, UBA Group has won the coveted Bank of the Year award for Africa. UBA Group time after time punches above its weight against its larger African rivals. The bank this year also takes home nine separate country awards (one more than it gained for its last continental win in 2024), equivalent to around a quarter of the awards for the continent, and more than any of its continent-wide rivals.”

Continuing, it said, “Perhaps even more impressive is the fact that the awards were won across a broad geographic spread, going to lenders based in the Economic Community of West African States (Benin, Liberia, Senegal, Sierra Leone, and former member Mali), the Central African Economic and Monetary Community (Chad, Republic of Congo) and the Southern African Development Community (Mozambique, Zambia). Its award wins were particularly notable in the highly competitive categories for Benin and Mozambique.”

The Banker also highlighted UBA’s strong financial performance and commitment to future growth. In 2024, the Group recorded a 46.8 per cent increase in assets and a 6.1 per cent rise in pre-tax profits in local currency terms, while continuing to invest significantly in talent and technology. West Africa remains UBA’s heartland, with operating revenue and profit increasing by 87 per cent and 89 per cent respectively in H1 2025.

The bank’s digital and innovation leadership was equally recognised. During the year under review, and launched its Advance Top-Up buy-now-pay-later feature on the *919# USSD platform, expanding financial access for customers, while the bank’s chatbot Leo continued its strong growth trajectory, with transaction volumes rising by 29 per cent year-on-year in H1 2025. Notably, in August, Leo became the first African banking chatbot to enable cross-border payments via the Pan-African Payment and Settlement System (PAPSS).

UBA’s Group Managing Director/Chief Executive Officer, Oliver Alawuba, while reacting to the achievement, said the recognition affirms the bank’s long-term strategy and customer-first philosophy.

“This honour reflects the strength of our Pan-African network, the trust of our customers, and the dedication of our people. Winning Africa’s Bank of the Year for the third time in five years is not by chance; it is a testament to disciplined execution, innovation, and a deep understanding of the markets we serve,” Alawuba said.

“Our nine country awards across diverse regions of Africa show that UBA is not just growing, but growing with impact. We remain committed to driving financial inclusion, supporting economic development, and deploying technology that makes banking simpler, faster, and more accessible to Africans everywhere,” he added.

United Bank for Africa is one of the largest employers in the financial sector on the African continent, with 25,000 employees group-wide and serving over 45 million customers globally. Operating in twenty African countries, the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting-edge technology.

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ConOil, TotalEnergies Sign Massive Production Contract to Boost Nigeria’s Oil and Gas Output

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By Eric Elezuo

In a bid to boost Nigeria’s oil and gas output, Conoil Producing Limited has partnered Total Energies Limited to sign a massive production contract.

The contract-signing ceremony, which took place on Thursday, at LA DEFENSE, in Paris, France, saw the Chairman of Conoil Producing, and Commander of the French Légion d’Honneur (CdrLR), Dr. Mike Adenuga Jr., signing on behalf of Conoil while the Chairman and Chief Executive Officer of TotalEnergies, Mr. Patrick Pouyanné, signed for TotalEnergies, in whose headquarters office served as the venue of the event.

Details soon…

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