Tony Elumelu Foundation Founder Clarifies Presidential Aspirations

Tony Elumelu, the founder of the Tony Elumelu Foundation (TEF), has unequivocally stated that he has no interest in pursuing the presidency of Nigeria. He made this declaration on Friday while engaging with questions during the unveiling of the beneficiaries of the foundation’s esteemed Entrepreneurship Programme in Lagos.

Addressing the audience, the Chairman of the United Bank for Africa (UBA) emphasized that he is not inclined to aspire to the presidency, asserting that not everyone can or should lead the country. Elumelu went on to express his pride in the accomplishments of the foundation over the past decade since its establishment.

He elaborated, “These 1,104 young men and women from 54 African countries will each receive a non-refundable $5,000 seed capital. We believe in spreading luck, democratizing luck, and fostering prosperity. We are convinced that the simplest way to propagate prosperity in Africa is by identifying our youth, encouraging them, and supporting them in starting their own businesses. This is the essence of our foundation.”

Elumelu highlighted the foundation’s impact, noting that to date, over 20,000 young individuals from across Africa have received over $100 million in support of their programs. He expressed joy in witnessing the progress of these young entrepreneurs and the foundation’s ability to collaborate with other global institutions.

He reflected on the journey of the foundation, emphasizing his gratitude for the opportunities to make a difference. Elumelu underscored that his family’s efforts are not driven by wealth but by the realization that poverty anywhere poses a threat to everyone’s prosperity. He expressed happiness in continuing to spread prosperity, not just within Nigeria or his family but across all 54 African countries.

Elumelu concluded by expressing his profound happiness that in his lifetime, he and his foundation are able to impact the next generation, reaffirming his commitment to the vision of the Tony Elumelu Foundation and its mission to drive entrepreneurship and economic growth across Africa.

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