Tony O. Elumelu, CFR, Chairman of the United Bank for Africa (UBA) and Founder, The Tony Elumelu Foundation, has identified infrastructural renewal as the magic bullet Nigeria must do to get out of the woods and be on the path of sustainable development. This, according to him, requires the right investments – which he itemised as investment in Nigerian youth, Nigerian women, the power sector, the social infrastructure, and in security.

Speaking Sunday, August 27, 2023 at the Nigerian Bar Association (NBA) Annual General Conference in Abuja, Elumelu said: “Let us lead our nation building, by laying those important foundations for our nation – let us renew our infrastructure.

“When I talk of infrastructure, I do not mean just roads or rail, bridges, or ports, I mean the following:

“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 – I know the social and economic returns entrepreneurship creates.

“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.”

Elumelu declared that “poverty anywhere is a threat to all of us everywhere,” adding: “The ultimate panacea for insecurity and extremism is prosperity.

“This is why all of us must think of legacy and play our role and part now, that we can, to urgently support our young ones to become economically engaged, else we are doomed.

“We must give them hope. Hope of a better tomorrow.

“Let us not underestimate the power of hope. Hope is what fuels the dreams of our youth, what ignites the determination of our entrepreneurs, and what unites us in our pursuit of a better future.

“Nations that prioritise their young go far – it is no coincidence that an America that created Harvard and Stanford, also produced Amazon, Microsoft and Google – we need the same focus on our young, their futures and ambitions.”

Identifying other necessary forms of investment, Elumelu said: “Let us invest in our women. When a woman succeeds, families and communities are lifted out of poverty. I am a product of a hardworking woman who greatly influenced, supported, and groomed me. It is no surprise that in my businesses, women lead and flourish.

“Let us invest in our power sector – let us create regulatory structures that reward success, that deliver to our people, our schools, our hospitals and our industries, the sustainable, robust power supply that our country so urgently needs.

“Is it not ironic that a country with abundant gas resources cannot optimally operate its power plants due to lack of gas!

“And let us invest in our social infrastructure, in our civil society, our courts of law and our administrators of justice. 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.

“Let us invest in security: Banditry; kidnapping; oil theft; pipeline vandalization, transmission line cuts. These create uncertainties, fears, deprivation, poverty, and untold hardship.

“Let us invest in brand Nigeria: We know the frustrations. We know that joblessness of our youth is a betrayal of a generation; and the plundering of our commonwealth is inhumane and cruel, but we have no other motherland than Nigeria.

“Let us be proud of our country. In Washington, in Singapore, wherever you walk, you see homes, shops, offices proudly displaying their national flags. Do you see this even in government agencies here, even less in private homes or corporate places?

“Let us invest in Nigeria – so we are respected abroad and at peace and prosperous at home.

“When we speak, as we rightly do, of nation building, that is the Nigeria I dream of – it is the Africa I dream of.”

The foremost investor and philanthropist warned against further delay, noting: “There is an urgency, driven by our enormous younger generation, by the threat of climate change, by the clocks ticking on our natural resources, which will soon be left behind, as the world races towards green economy.”

In conclusion, he said: “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.

“I am a Nigerian, I owe everything to Nigeria. I am proud of Nigeria. I am proud to be a Nigerian – let us honour our country, let’s respect out leadership, let us honour our people, let us truly build our nation, and in doing so deliver to our young ones the future and destiny they so rightly deserve – in Nigeria and in our time.

“Let history remember us not for our individual achievements, not for the balances in our bank accounts but for our collective efforts in building a nation that stands as a beacon of hope and inspiration for the entire black race.

“Let us be inspired by the lessons of history, motivated by the sacrifices of our forefathers, guided by the wisdom of our elders, and energized by the aspirations of our youth.”

•PHOTO: President Bola Ahmed Tinubu exchanging pleasantries with Tony Elumelu during 63rd Annual General Conference of the Nigeria Bar Association (NBA) . . . Sunday in Abuja

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