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Elumelu Urges Collaboration to Create Wealth, Empower Youth

Tony O. Elumelu, Chairman of Heirs Holdings Group, has called for collaborative efforts to create wealth and empower Nigerian youths.

Even as he emphasized the importance of good governance in contributing to the country’s development, he urged governors to prioritize youth empowerment in Nigeria.

He made the call yesterday at the opening of the Nigeria Governors Forum (NGF) 2023 induction for re-elected and elected governors with the theme: Governing for Impact (Building Sub-national Governance), which was held at the presidential Villa.


Elumelu emphasized the importance of a concerted effort to harness the country’s significant youth population and drive socioeconomic growth.

Elumelu emphasized the common denominator of having majority of young populations when speaking to governors representing states with diverse dynamics, including variations in population density, ethnolinguistic groups, natural resources, and economic activity levels.

He emphasized the significance of prioritizing youth engagement as a means of making a positive impact and catalyzing socioeconomic development at both the state and national levels.
Elumelu, who has advocated for entrepreneurship among Nigerian youth, urged governors to work together to create states that are more entrepreneurial and focused on wealth creation.

He emphasized the importance of creating an enabling environment by implementing sound financial and economic policies, reducing corruption, advancing technology, and improving regulatory ease, drawing inspiration from success stories such as Singapore and the East Asian Tiger Economies.

Elumelu emphasized the importance of setting a clear vision and strategy for achieving their goals in his address to the governors as presidents, CEOs, and lead mentors of their states.


He urged them to choose team members based on competence rather than loyalty, emphasizing that good governance required governors to govern their states effectively without relying too heavily on central government funds.

Elumelu also emphasized the importance of youth engagement and entrepreneurship in addressing issues such as youth disengagement, alienation, and unemployment.

He emphasized entrepreneurship’s transformative power, which allows people to express their creativity, pursue their passions, and make meaningful contributions to their communities.

He did, however, acknowledge the challenges that young entrepreneurs face, such as limited access to capital, hostile business environments, and insufficient infrastructure.

Elumelu encouraged governors to create favorable policies, ensure access to alternative funding sources such as grants, and foster an enabling environment for businesses to thrive in order to overcome these obstacles.

He cited the Tony Elumelu Foundation’s success in training, mentoring, and providing non-refundable grants to young African entrepreneurs.

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Elumelu hoped to replicate these results in each Nigerian state, emphasizing the potential for job creation and economic growth.

He advocated for long-term infrastructure investment in Nigeria, as well as the development of private-sector-friendly policies that encourage wealth creation and entrepreneurship.

He emphasized the importance of recognizing entrepreneurship’s potential to foster youth engagement and empower young people to contribute to the country’s development.

Elumelu urged leaders, policymakers, and stakeholders to work together to create an enabling environment in Nigeria that supports and encourages entrepreneurship.

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