ABUJA, Nigeria — Bola Ahmed Tinubu has congratulated renowned Nigerian economist and business leader Tony Elumelu on his 62nd birthday, describing him as a leading force in Africa’s economic transformation and enterprise development.
Elumelu, Chairman of Heirs Holdings, United Bank for Africa, and Transcorp, marks his 62nd birthday on March 22, 2026.
In a statement issued on Saturday, President Tinubu praised Elumelu’s contributions to business and philanthropy, noting his commitment to excellence and his advocacy for Africapitalism, a philosophy that promotes private sector-led development across Africa.
Okay News reports that the president particularly commended the work of the Tony Elumelu Foundation, highlighting its role in empowering young Africans through entrepreneurship.
He noted that the foundation has trained approximately 2.5 million youths across 54 African countries and supported over 24,000 entrepreneurs with non-refundable seed capital of $5,000 each.
Tinubu described Elumelu’s continued investment in youth development as critical to driving job creation and long-term economic growth across the continent.
The president also joined family members, friends, and associates in wishing the business leader continued good health and greater achievements.
The recognition comes as the Tony Elumelu Foundation intensifies efforts to align African entrepreneurship with global development priorities ahead of 2030.
Speaking during a virtual media briefing, Somachi Chris-Asoluka, said the foundation is increasingly focusing on supporting entrepreneurs whose businesses contribute directly to the United Nations Sustainable Development Goals.
The briefing was held ahead of the 2026 TEF Entrepreneurship Programme announcement, which will unveil a new cohort of 3,200 young African entrepreneurs.
Chris-Asoluka emphasised that the foundation’s selection criteria prioritise impact-driven ventures that address key development challenges across the continent.
“We want our entrepreneurs to actively contribute to the SDGs so that by 2030, Africa will no longer lag behind, but will be able to meet and surpass these goals,” she said.
According to her, the foundation evaluates applicants not only on profitability and scalability, but also on their ability to deliver measurable social and economic impact in areas such as education, healthcare, climate action, and digital innovation.
She added that empowering young entrepreneurs remains central to the foundation’s mission of fostering inclusive growth and sustainable development across Africa.
The Tony Elumelu Foundation continues to position entrepreneurship as a key driver of Africa’s future, with a focus on building a new generation of business leaders capable of transforming the continent’s economic landscape.
