Elumelu Calls For More Investment In Nigeria’s Power Sector

Tony Elumelu, founder of the Tony Elumelu Foundation (TEF), has called for more investments in Nigeria’s power sector.

He spoke on Sunday in Abuja at the Nigerian Bar Association (NBA) annual general conference.

Elumelu, who is also the chairman of Transcorp Power Limited, said it was “ironic” that Nigeria has abundant gas resources but cannot optimally operate its power plants due to lack of gas.

He emphasised the importance of creating regulatory structures that deliver to hospitals and industries the sustainable, robust power supply that the country so urgently needs.

Elumelu, who delivered a stirring address at the Nigerian Bar Association’s (NBA) Annual General Conference yesterday, also made a resounding call for unity and concerted action.

Speaking before a distinguished audience, including President Bola Ahmed Tinubu, Elumelu underscored the imperative of nation building in Nigeria.

He hailed the recent economic decisions that have been taken to address systemic issues and encouraged further boldness in policymaking.

The serial entrepreneur pointed to a real-world example, the TransAfam Power Plant, where challenges with gas supply highlight the need for urgent regulatory reform.

Elumelu expressed his gratitude for the opportunity to address the gathering and commended the NBA’s choice of the topic, emphasising the shared ambition of all attendees – to contribute to a true renaissance of Nigeria. Highlighting the country’s vast potential and the remarkable achievements of Nigerians across various sectors globally, Elumelu painted a picture of Nigeria as a nation with boundless resources and talents.

He called for collaboration and unity, transcending individual backgrounds, religious beliefs, and political affiliations, stressing that nation building is a collective endeavour that demands the participation of every citizen, not just the government.

Drawing attention to the critical components of nation building, Elumelu outlined his vision for a renewed Nigeria. He stressed the significance of investing in the country’s youth, fostering an entrepreneurial culture, and building regulatory structures that reward success. The business magnate passionately advocated for empowering women and prioritising education to create a foundation for sustainable growth.

Elumelu also highlighted Furthermore, Elumelu called for a strengthened justice system, improved security measures, and a renewed focus on Nigerian identity. He underscored the importance of instilling pride in the nation’s citizens and the necessity of embracing the African concept of “Africapitalism,” which promotes equitable prosperity and shared values.

In his concluding remarks, Elumelu urged attendees to approach nation building with unwavering determination and empathy, reminding everyone of the responsibility to create a legacy of progress, unity, and hope for future generations.

He called for the transformation of Nigeria into a beacon of hope and inspiration for the entire continent.

Tony O. Elumelu’s address resonated deeply with the audience, igniting a renewed sense of commitment to the nation’s future. As Nigeria stands at a crossroads, his words serve as a rallying call for collaboration and action, reminding all Nigerians that the path to a brighter future lies in their hands.