Founder of The Tony Elumelu Foundation, Tony O. Elumelu, has called for unity and collaborative efforts in nation-building.

Elulemu, who made this known at the Nigerian Bar Association (NBA) Annual General Conference, thanked the president of the NBA, Yakubu Maikyau, for the opportunity to speak. He also commended the president on the choice of topic for the conference.

“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,” he said.

While acknowledging the immense potential of the country, Elumelu emphasized that Nigerians excel in various fields globally. He noted that from international leadership positions to business, arts, sports, and technology, the accomplishments of Nigerians are noteworthy. He specifically mentioned UBA (United Bank for Africa) as an African bank with a global presence and highlighted the broad impact of Nigerian businesses on the world stage.

“We champion the successes of Nigerians globally – 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.

“We live in a world, where the UK Secretary of State for Business and Trade grew up in Lagos and the United States Deputy Secretary of the Treasury, was born in Ibadan. 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!,” he noted.

However, the renowned entrepreneur and philanthropist acknowledged that these successes remain limited and rare, adding that the pressing issues faced by Nigeria, such as energy deficits, disillusioned youth seeking opportunities abroad, oil theft, and pipeline destruction, as well as the daily impact of climate change, are some of the obstacles that hinder progress and national unity.

Elumelu stressed that nation-building is a crucial, collective responsibility that demands the involvement of all stakeholders. He described it as an intricate process of forging a cohesive and united society, transcending individual interests and creating a shared identity, purpose, and vision. He emphasized that this responsibility should not rest solely on the government, but also on the private sector, philanthropies, civil society, and individual citizens.

Highlighting the need for a fundamental renewal of Nigeria’s social and economic infrastructure, Elumelu commended the tough economic decisions that have been made to drive progress. He then called for collaboration, unity, and empowerment of all sectors in order to reset Nigeria and build a prosperous future.

“We salute the political will and courage that have been found to address the root causes of issues, to introduce policies for the long term, not for the short term. Let us build on this boldness. Congratulations President Bola Ahmed Tinubu!

“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,” he said.

Elumelu also called on fellow private sector leaders to see themselves as the engine of innovation, the source of investment, and the creators of jobs.

“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 added.

He also called for investment in the power sector, adding that regulatory structures that reward success, deliver to the people, schools, hospitals, and industries should be created.

He added: “I have seen, the beginnings of what we can do. Let me give you an example: The TransAfam Power Plant that belongs to Transcorp Group has an installed capacity of 1000 megawatts.  The Federal Government of Nigeria made significant investment to acquire 240 megawatts fast power turbines from General Electric (GE). For context, 240 megawatts of electricity can power about one million homes in Nigeria.

“Yet GE has threatened to pull out of the project, because our nation – with some of the largest gas reserves globally, could not provide 65mm scuffs of gas needed for the comprehensive testing of the installed fast power plant.

“We have idle gas fields and there is so much private capital to make the needed investments for gas production. Yet, we cannot produce gas to power our economy and 21^st Century industrialisation.  Thanks to a short-sighted regulatory regime and self-serving policies that keep our people permanently in the dark.  This has to change.”