Abuja, Nigeria – Tony Elumelu, the Chairman of Heirs Holdings and founder of the Tony Elumelu Foundation, met with President Bola Tinubu on Friday, February 13, 2026, at the State House in Abuja. The high-profile meeting between the African philanthropist and the Nigerian leader focused on the current state of the nation’s economy, with specific attention paid to recent monetary reforms and the critical power sector.
Okay News reports that Elumelu expressed confidence in the administration’s economic strategies, particularly praising the newfound stability of the naira, Nigeria’s currency.
Speaking to journalists after the closed-door session, the business mogul noted that the unification of exchange rates and other bold policy decisions have significantly improved the ease of doing business, effectively resolving the volatility that previously characterized the foreign exchange market.
To illustrate the shift in the financial landscape, Elumelu shared an anecdote about the changing nature of business inquiries he receives. He remarked that while the vast majority of calls he received in the past were from associates desperate to access foreign exchange, such requests have now ceased entirely. He attributed this development to the work of the Central Bank of Nigeria (CBN), noting that the apex bank has successfully restored predictability and confidence to the market.
Beyond monetary policy, the discussion also addressed Nigeria’s energy infrastructure, which remains a pivotal factor for industrial growth. Elumelu disclosed that President Tinubu has committed to fast-tracking the payment of outstanding debts owed to power generation companies. He emphasized that clearing these financial obligations is essential to empowering the generation firms to increase their output, thereby boosting the electricity supply required to drive the nation’s economic development.
