Connect with us

Business

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

Published

on

 

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

.

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”

 

 

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

Italian Oil Giant Eni Gets FG’s Approval to Sell Agip Oil to Oando

Published

on

By

Italian oil and gas giant, Eni, on Wednesday announced that it had received regulatory approval from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for the sale of Nigerian Agip Oil Company Limited (NAOC) to Oando Plc.

In a statement issued on Wednesday, Eni said it had received formal consent to finalise the deal. It will be the first deal to be approved under the Petroleum Industry Act (PIA) and under the new upstream regulatory body, the NUPRC.

Chief Executive Officer of NUPRC, Mr. Gbenga Komolafe had announced during an industry conference on July 3 in Abuja, that Oando had completed the acquisition of 100 per cent shares of Eni in its subsidiary, NAOC, adding that an announcement was imminent.

Confirming this in the statement, the Italian oil company said it had obtained all other relevant local and regulatory authorities’ authorisations.

“Having already obtained all other relevant local and regulatory authorities’ authorisations, this achievement will allow Eni to proceed to the completion of the transaction for the sale of Nigerian Agip Oil Company Ltd (NAOC), Eni’s wholly owned subsidiary focusing on onshore oil & gas exploration and production as well as power generation in Nigeria, to Oando PLC, Nigeria’s leading national energy solutions provider, listed on both the Nigerian and Johannesburg Stock Exchange.

“NAOC Ltd participating interest in SPDC JV (Shell Production Development Company Joint Venture – operator Shell 30 per cent, TotalEnergies 10 per cent, NAOC 5 per cent, NNPC 55 per cent) is not included in the perimeter of the transaction and will be retained in Eni’s portfolio.

“Eni remains committed to the country through investments in deepwater projects and Nigeria LNG,” the company stated in a statement.

 

 

The company also said it was developing plans for economic diversification in the country.

Eni said this includes assessing the potential production of agri-feedstock for Enilive bio-refineries and various nature- and technology-based projects, such as clean cooking initiatives to offset emissions.

Eni has been operating in Nigeria since 1962, actively engaging in hydrocarbon exploration and production, as well as power generation.

Currently, Eni has a substantial portfolio of assets in exploration and production, with an equity production of approximately 40,000 barrels of oil equivalent per day net of NAOC contribution. Eni also holds a 10.4 per cent interest in Nigeria LNG.

 

 

NAOC focuses on onshore oil & gas exploration and production as well as power generation, Eni said in the statement.

Aside from Eni, other companies in the process of getting approval are Shell Petroleum Development Company (SPDC), which is selling to Renaissance Consortium as well as ExxonMobil which is selling some of its oil assets to Seplat Energies.

Others are Chappal , which is buying from Total Energies as well Equinor which recently entered into a preliminary deal with the same Chappal Energies to sell some of its assets.

Arise News

Continue Reading

Business

NNPCL Invested Only 7.2% in Our Refinery, Not 20%, Dangote Confirms

Published

on

By

By Eric Elezuo

President, Dangote Industries Limited and Africa’s richest man, Aliko Dangote, has said that contrary to popularly held view that the Nigerian National Petroleum Company Limited (NNPCL) invested 20 percent stake in Dangote Refinery and Petrochemicals, the company has only 7.2 per cent share holding.

Dangote made the revelation while addressing a full house of top media executives during a press parley and tour of the facilities at the Ibeju-Lekki site of the refinery and fertilizer plant.

Speaking matter of factly, Dangote, who said that the success of the refinery will depend majorly on the line of the policies the government of the day take, noted that while NNPC was originally billed to acquire 20 per cent share holding, it could only afford to pay 7.2 percent, which it now owns, having failed to remit the balance, which was due in June. 

“NNPC do not own 20 percent stake in the Dangote refinery. They were meant to pay their balance in June, but have yet to fulfil the obligations. Now, they only own a 7.2% stake in the refinery,” Dangote confirmed.

 

Continue Reading

Business

CIBN Appoints UBA CEO, Oliver Alawuba As Chairman

Published

on

By

The Group Managing Director/Chief Executive Officer, United Bank for Africa, (UBA) Plc, Oliver Alawuba has been appointed as the Chairman of the Chartered Institute of Bankers of Nigeria (CIBN), the Body of Banks’ CEOs.

The CIBN announced this appointment on its website on Monday, July 8, 2024.

This prestigious appointment underscores Alawuba’s extensive experience and visionary leadership in the banking sector, as well as his unwavering commitment towards advancing the financial industry in Nigeria and across Africa.

In his role as Chairman, Alawuba will be at the forefront of fostering collaboration and driving strategic initiatives among the top executives of banks in Nigeria.

Like he has achieved as the GMD of Africa’s Global Bank, UBA, his leadership is expected to bring innovative solutions and strengthen the collective efforts of the banking community while addressing the dynamic challenges and opportunities within the financial sector.

The CIBN also announced the appointment of Mrs. Miriam Olusanya, the CEO of GTBank, as the Vice Chairman of the Body of Banks’ CEOs. Her appointment, alongside Alawuba’s, signifies a strong and unified leadership team poised to enhance the banking landscape in Nigeria.

UBA extends its heartfelt congratulations to Alawuba and Olusanya on their appointment and the Bank is confident that their combined expertise and visionary leadership will usher in a new era of progress and innovation for the banking industry in Nigeria, and that under their guidance, the Body of Banks’ CEOs will continue to play a pivotal role in shaping policies and strategies that will drive sustainable economic growth and enhance the overall stability of the financial system in Nigeria.

Continue Reading

Trending