TheCable

Tony Elumelu, founder of the Tony Elumelu Foundation (TEF), says eradicating poverty is the ultimate weapon against insecurity and extremism.

In a series of tweets on Monday, the billionaire businessman said it is important that private sector leaders play their roles in securing the future of the country.

Elumelu said his message was spurred by the actions of TEF, which has continuously supported young entrepreneurs through non-refundable grants.

“In my engagement with fellow private sector leaders, my message is simple: We must see ourselves as the engine of innovation, the source of investment, and the creators of jobs. This is exactly what we have achieved at the @TonyElumeluFDN,” the United Bank for Africa (UBA) chairperson tweeted.

“When my wife Awele and I committed US $100 million to help democratise luck and empower our youth through the @TonyElumeluFDN, giving annual non-refundable grant of $5,000 seed capital to each beneficiary, now received by over 18,000 young ones.

“It was not out of an abundance of wealth, rather it was our own contribution in spreading prosperity and making the world a better and safer place for all of us.

“Poverty anywhere is a threat to all of us everywhere. The ultimate solution for insecurity and extremism is the eradication of poverty and the abundance of prosperity. 

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

Elumelu said joint efforts by private sector leaders will not only build the country but inspire the entire black race. 

The businessman has been vocal about the private sector’s role in curbing poverty in Nigeria.

In May, Elumelu asked investors and private sector leaders to prioritise the power sector so that millions of jobs can be created for the youth.