Events

Tony Elumelu Pushes for Africa to Embrace Private Sector Power

Published

11 months ago

October 22, 2025

Tony Elumelu urges African leaders to build predictable, business-friendly policies to unlock investment and drive sustainable growth at the Abuja Summit 2025

The Group Chairman of United Bank for Africa (UBA) Plc and Heirs Holdings Limited, Tony Elumelu, CFR, has called on African policymakers to create predictable, pro-enterprise environments that attract long-term investment and unlock the continent’s full potential.

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Delivering the keynote address at the Abuja Business & Investment Summit & Expo 2025, held on Wednesday at the Bola Ahmed Tinubu International Conference Centre, Elumelu emphasised that “predictable regulation attracts long-term investment, while inconsistency drives it away.”

He urged African governments to view private sector success as the foundation of national prosperity, noting that over 70% of Africa’s GDP and 80% of employment are generated by private enterprises.

“No nation has ever achieved sustained prosperity without a vibrant and virile private sector,” Elumelu said. “The private sector is reimagining what is possible on our continent.”

Speaking on the summit’s theme, “Empowering Sustainable Growth: Unlocking Potential in Emerging Markets,” Elumelu advocated for a new social contract between government and business, founded on trust, transparency, and partnership.

He said sustainable progress can only thrive where governments convert investor confidence into nation-building through stable and forward-thinking policies.

The UBA Chairman cited Heirs Holdings’ strategic investments in the Federal Capital Territory (FCT) as examples of how purposeful private capital can drive development, including the revitalisation of the Transcorp Hilton Abuja, the launch of the Transcorp Event Centre, and ongoing reforms in the Abuja Electricity Distribution Company (AEDC).

“How can we expect foreign investors to invest in our economies if we don’t invest in them ourselves?” he challenged.

“Make your money, but please bring it home and invest locally. It is an act of unpatriotism to save your wealth in economies that already have so much.”

Elumelu, who is also the Founder of the Tony Elumelu Foundation, stressed that Africa’s transformation will be driven by long-term investments in critical sectors that create prosperity and opportunities for all.

He commended the Minister of the Federal Capital Territory, Nyesom Wike, and the Minister of State for the FCT, Dr. Mariya Mahmoud, for their infrastructural drive within the capital, describing Abuja as a model for partnership between the public and private sectors.

In her remarks, Dr. Mariya Mahmoud expressed gratitude to Elumelu and other investors for their confidence in Abuja, reaffirming the FCT Administration’s commitment to making the city Nigeria’s premier investment destination.

The Abuja Business & Investment Summit & Expo 2025 (ABISummit2025), organised by the Abuja Investments Company Limited (AICL) and hosted by Ambassador Dr. Maureen Tamuno, serves as a platform to forge partnerships and translate economic visions into actionable strategies for sustainable growth across Nigeria and Africa.

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Rechael Okonkwo’s Carnival Brings Free Healthcare to 5,000 Residents

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1 week ago

September 2, 2026

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Culture

WAKE UP! Art Exhibition Returns for a Second Act

Published

2 weeks ago

August 27, 2026

Mariam Balogun

The contemporary art and photography exhibition “Wake Up!” is back again for a second edition.

Curated by Awele Onwordi, Wake Up! 2 exhibition pays homage to the Nigerian youth and burgeoning street culture which many of its contributing artists reference in their works.

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Titled “Young, Wild, Free”, the exhibition celebrates the creativity, resilience, freedom and cultural influence found in Nigerian youth.

Taking aim at societal issues and economic concerns, the exhibit reflects the youth and their refusal to compromise or bow despite all the challenges stacked against them while charting youth culture through art, music, fashion, skateboarding, photography and community.

The exhibition will be held, once again, at the Angel and Muse Gallery at 25 Sumbo Jibowu street off Ribadu Road off Awolowo Road in Ikoyi.

It will open on Saturday 5 September 2026 and will run until 11 September 2026
This second edition which focuses on celebrating, nurturing and exploring artistic practices rooted in youth and street culture will feature works from DENCITY and SUPERGLIDER HOUSE.

Exhibiting artists include Ajilore Kehinde – their work is deeply influenced by Nigerian street culture and works of other artists like Slawn, Peters Ejiro, etc, Chuka Onwordi – graphic designer who embodies themes of death, melancholy and beauty in his works, ZIDYEP – Abuja based creative whose works move between digital and physical spaces through art, graphic design and air brushing , Franklyn Okoye – graphic designer and artist whose works explore themes of identity and hyper-reality, Awele Onwordi – founder & curator of WAKE UP and multidisciplinary artist whose practice spans character art, creative logo design, album covers and more , Oluchi Kogolo – digital illustrator whose work explores street culture, personality and storytelling through a raw and playful visual style and Kozetuo Apeji – multidisciplinary artists who work explores experimental approaches to problem solving through both digital and traditional art forms.

Commenting on the exhibition in her curatorial statement, Awele noted that “despite economic instability, limited opportunities and socio-political challenges, Nigerian youth continue to shape culture through music, fashion, art, skateboarding, raves, photography and community.”

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Continuing and harping on the raison d’etre of the exhibition she said, “Young, Wild and Free exists to celebrate Nigerian youth while also creating a platform that supports and amplifies them.”