Tony Elumelu says “poverty anywhere is a threat to us all” 

In the wake of growing poverty rates in the country, one of Nigeria’s foremost billionaire investors, Tony Elumelu has stated that poverty anywhere in the country is a threat to everyone. 

Taking to the social media platform X, Elumelu elucidated how, in his ongoing dialogues with leaders from the private sector, he consistently emphasized their pivotal roles as the driving force behind innovation, the wellspring of investments, and the generators of employment opportunities to lift people out of penury. 

According to him, the need to contribute his quota in poverty alleviation is what led him and his wife, Dr Awele Elumelu to commit $100 million to help democratise and empower youths through the giving an annual non-refundable grant of $5,000 seed capital to each beneficiary, now received by over 18,000 youths. 

Stating the intention behind his contribution he said,  

  • “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, urgently support” 

Elumelu maintained that he owes everything that he is worth to Nigeria citing the need to honour and respect the authority of the country and in “ doing so, deliver to our young ones the future they so rightly deserve. 

“Let history remember us for our collective efforts in building a nation that serves as a beacon of hope and inspiration, not just for Nigerians, not just for Africans, but for the entire black race,” he concluded. 



Tony Elumelu’s backstory 

Tony Elumelu is a renowned Nigerian entrepreneur, investor, and philanthropist. He holds the position of Chairman at Heirs Holdings, a conglomerate with diversified interests in sectors such as finance, energy, and hospitality. 

Through the Tony Elumelu Foundation, he has extended substantial support and mentorship to numerous African entrepreneurs. His efforts have empowered these entrepreneurs to establish businesses that not only contribute to economic growth but also foster job creation throughout Africa. 

Tony Elumelu’s leadership and contributions have left a mark on the African business landscape. His inspirational journey has ignited a fresh wave of entrepreneurial spirit, inspiring a new generation of business leaders. 



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