Elumelu emphasizes importance of private sector in driving economic change
Tony O. Elumelu, CFR, Group Chairman, Transcorp Group,
Elumelu emphasizes importance of private sector in driving economic change
Nike Popoola
The Chairman: UBA Group, Transcorp Group/ Chairman & Founder, Heirs Holdings Group & The Tony Elumelu Foundation, Tony O. Elumelu, has emphasized the importance of the private sector in driving economic change.
He spoke at the Chartered Institute of Bankers of Nigeria’s annual Banking and Finance Conference on Tuesday, with his keynote speech title, ‘Accelerated economic growth and development: The state of play and the way forward’.
He said, “We need a comprehensive strategy to support our vast and diverse population and unlock our potential. Nigeria is rich in resources, natural and human. But, time and time again, we have failed to invest in our people and our value chain.
“And by value chain, I mean not just our oil & gas or manufacturing, I mean power, I mean schools, universities, our institutions. All those foundations that provide the ecosystem for a country to succeed. A country that does not address its basic infrastructure needs, is a country that cannot realise its potential.
“At this time of uncertainty, we all – citizens and government – must transform this crisis into an opportunity—a blueprint for creating a thriving, people and investor-friendly environment.
“I talk of Africapitalism, the importance of the private sector driving economic change, but delivering it in a way that is just and equitable – but we cannot do good and do well when our people who strive cannot thrive.”
The GMD/UBA Plc, Mr. Oliver Alawuba, also urged African leaders to commit themselves to building a financial sector that powers our economy, lifts its people, and transforms the world.
Alawuba, who is also the Chairman Body of Banks’ CEOs & Chairman, 17th Annual Banking and Finance Consultative Committee said, “Let us not merely leave this conference inspired but let us leave it determined to execute – committing ourselves to building a financial sector that powers our economy, lifts our people, and transforms our world.”
The GMD said the Keynote Speaker, Mr. Tony Elumelu’s powerful words gave a renewed sense of purpose, providing a clear roadmap for Nigeria’s economic transformation through electricity access, security, and youth entrepreneurship.
He appreciated everyone who contributed to making the remarkable conference a resounding success, including the President of Nigeria, Bola Tinubu, who was represented by the Vice President, His Excellency, Senator Kashim Shettima; President Joseph Nyuma Boakai, President of the Federal Republic of Liberia, represented by His Excellency, Vice President Jeremiah Kpan Koung; and President Felix Tshisekedi of the Democratic Republic of Congo, represented by His Excellency, M. Daniel Mukoko Samba, Vice Prime Minister, and Minister of the Economy.
Some others are Minister of Finance, Mr. Wale Edun, and the Honourable Minister of Budget and Economic Planning, Senator Abubakar Bagudu; Governor of the Central Bank of Nigeria, Mr. Olayemi Cardoso; Governor Dauda Lawal of Zamfara State (represented by Mallam Abubakar M. Nakwada, Secretary to the State Government); Governor Bassey Otu of Cross Rivers State; and Governor Alex Otti of Abia State; and the Governor of Lagos State, Babajide Sanwo-Olu(represented by Mr. Abayomi Oluyomi, the Honourable Commissioner for Finance, Lagos State).
