Tony Elumelu, the founder of the Tony Elumelu Foundation (TEF), believes that eradicating poverty is the ultimate solution to insecurity and extremism.
In a series of tweets on Monday, the billionaire businessman stressed the importance of private sector leaders playing their roles in securing the future of the country.
According to him, his message was brought to light by the actions of TEF, which has continuously supported young entrepreneurs through non-refundable grants.
“In my engagement with fellow private sector leaders, my message is simple: We must see ourselves as the engine of innovation, the source of investment, and the creators of jobs. This is exactly what we have achieved at the @TonyElumeluFDN,” the United Bank for Africa (UBA) chairperson tweeted.
“When my wife Awele and I committed US $100 million to help democratise luck and empower our youth through the @TonyElumeluFDN, giving annual non-refundable grant of $5,000 seed capital to each beneficiary, now received by over 18,000 young ones.
“It was not out of an abundance of wealth, rather it was our own contribution in spreading prosperity and making the world a better and safer place for all of us.
“Poverty anywhere is a threat to all of us everywhere. The ultimate solution for insecurity and extremism is the eradication of poverty and the abundance of prosperity.
“This is why all of us must think of legacy and play our own role and part now that we can, to urgently support our young ones to become economically engaged.”
Elumelu further emphasized on the need for private sector leaders to work together in order to not only develop Nigeria, but also to inspire the entire black race.
The entrepreneur has been vocal about the private sector’s responsibility in reducing poverty in Nigeria.
In May, he urged investors and private sector leaders to prioritize the power sector as a way of creating millions of jobs for the youth.
